Online Gambling in Luxembourg
Online gambling in Luxembourg started in 2007. Players can readily participate in instant-win online games offered by Loterie Nationale.
As far as other forms of online gambling is concerned (like online sports betting or horseracing), there are currently no laws that address them.
Many assume that the general ban on gambling in Luxembourg extends online, but with no laws explicitly forbidding it, players still partake in online gambling.
Online gamblers from Luxembourg get to enjoy online poker, online casino games, and online sports book wagering by simply accessing foreign online gambling sites.
There are hundreds of these out there, and most accept players from Luxembourg. Because these sites are hosted in other countries, they are not bound by the laws in Luxembourg, so they cannot be shut down.
Though the government of Luxembourg may not provide online casinos and gambling sites with licenses, there are some very successful gambling companies that come out of Luxembourg, namely Gaming VC Holdings S.A.
One of Gaming VC Holdings' ventures, BetBoo, was even named Latin American Operator of the Year at the eGaming Review Awards. Gaming VC revenue rose at a massive rate of 30% over the last quarter of 2009. Plans for the company, however, see it shifting from Luxembourg to the Isle of Man in the near future. This move will introduce much lighter taxing to the company.
About Luxembourg
Luxembourg, officially known as the Grand Duchy of Luxembourg, is a landlocked country in Western Europe. Luxembourg is bordered by Belgium to the west and north, France to the south, and Germany to the east.
Luxembourg covers an area of about 2,586 square kilometers (approximately 999 square miles). It has a population of over half a million people. Luxembourg, being a representative democracy with a constitutional monarch, is ruled by a Grand Duke. It is the world's only remaining sovereign Grand Duchy.
The country has a highly developed economy, with the world's highest GDP per capita according to the International Monetary Fund and the World Bank.