Cherry Online Casino Gains Polish Sports Wagering License

US Players are focusing on the US changes in sports betting laws, but Poland has also been making some changes to their laws and licenses.

Poland has awarded Cherry Online Casino with a sports betting license.

Cherry AB is a Swedish company. Cherry Online Polska is a subsidiary of Cherry AB and the entity that gained the sports wagering license in Poland. On June 28, 2018, the company announced it was the ninth operator to gain a license through the Ministry of Finance. It is the second business to gain a license under new sports gambling regulations in Poland.

The licensing process took six months to provide the company with the legal means to operate their online company. Patryk Wlodarski is a business consultant who helped Cherry submit the request. He stated the company is proud to be one of the first granted a license in the regulated market.

The gambling bill was amended in 2017, which has allowed the Swedish based company access to the country. Cherry has their subsidiary in Warsaw, which is the one that is holding the license. They are in a position to provide the first online sportsbook brand to Polish citizen.

Cherry has also joined the ranks of E-Toto, Fortuna, forBet, Milennium, TotoLotek SA, LV Bet, and TotalBet in terms of gaining a license through the Ministry of Finance.

Polish Gaming Laws

Poland began considering a bill to change their gambling laws in 2017. In April 1, 2017, the bill was approved. However, it took over a year for the acceptance of the laws and the final paperwork to be completed. Poland is considered the country that will attempt to open up Europe for international operators. Their new law allows for casino games, sports betting, poker, and bingo. Right now, sports betting, is the only type of gambling that is not part of the monopoly.

For a while, there has been a monopoly on gambling in Poland with Totalizator Sprotowy. It is a state-run gambling operator. The new law opens sports betting up, but according to the new laws, all other areas of gambling are still monopolized by the state-run corporation.

With a new and immature industry, sports betting operators will need to get used to the new regulations and the players. For the first year, the government has managed to make $105 million in taxes, which shows that the industry is on track with making a decent income.

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