iGaming Business – The Czech Republic Supreme Audit Office (NKÚ) has announced that the country is losing about K600 million (€21.6 million/$28.3 million) each year due to illegal online betting.

According to the Czech News Agency, the NKÚ also filed a criminal complaint over the Finance Ministry’s spending on the information system for state supervision and criticised such supervision over lotteries for being ineffective.

The NKÚ said that many companies in the country are operating illegally and without the payments of contributions from their profits.

The Finance Ministry is aware of the situation and, having cited a 24-year-old law as the problem, it plans to introduce a new law that will allow legal operators based in other European Union member countries to offer gaming and lottery services in the Czech Republic.

The new bill, which the Finance Ministry said could boost state budget revenue by at least K1 billion, is due to be submitted to the government later this month or in October.