Egypt Bookmakers

Egypt is one of the most historically significant and culturally diverse countries in the world and, therefore, has a rather specific approach to the regulation of gambling. Despite the fact that the majority of the population is Muslim and religion is often against gambling, Egypt has learned to compromise between the religious and economical aspects. This guide explains the specifics of Egypt bookmakers and sports betting in Egypt and provides useful information on the legal basis, historical background and more.

Egypt Bookmakers

1937: Gambling was first officially mentioned in the Penal Code.

1955: The allowance of casino gambling for tourists only.

1976: Legalization of lotto across the country.

2005: The legalizing of sports betting.

2018: The Anti-Cyber Law helps define the aspects of online betting.

History of Egypt Gambling Laws

Early Legislation

  • 1937: The Penal Code first refers to gambling in Egypt and underlines the fact that the activity has been a problem for the country for a long time.
  • 1940: Unofficial lottery activities started in the Greek neighbourhoods of Cairo.
  • 1941-1955: King Farouk I enacted a law banning gambling and this law is in consonance with Article 19 of Public Stores Law No. 38 of 1941.

Modern Legal Framework

  • 1955: Interestingly, casino gambling was allowed for tourists in the country after it gained its independence in 1955 even though the country is a Muslim nation. It should be noted that citizens are still not allowed to visit casinos.
  • 1960: Lottery was officially allowed in some of the governorates.
  • 1976: This paper will also discuss the nationwide legalization of the lottery and the formation of the Lottery Coalition.
  • 2005: The legalization of sports betting, this with the Egyptian National Post Organization signing a deal with Intralot to offer sports betting across the country.

Key Regulatory Bodies

The body that regulates gambling in Egypt is the Ministry of Tourism & Antiquities. This organization is in charge of licensing casino operators and ensuring that all the operations being carried out are legal.

Legal and Illegal Activities

According to Article No. 73 of the Penal Code, the following forms of gambling are regulated and legal in Egypt:

  • Card games
  • Lottery
  • Sports betting
  • TV games (including the promotional lotteries and raffles)
  • Table games
  • Video and computer games (excludes gambling)

Prohibited Activities

The unlicensed gambling activities are prohibited. Article 352 and 353 of the Penal Code clearly states that the offender shall be fined or be sentenced to a_detention_ for those who provide or engage in unlicensed gambling.

Gambling Licenses and their Fees

The ministry of tourism & antiquities is the government body that regulates the issuance of licenses to casino gambling establishments. Unfortunately, the price and procedures for such licenses may differ, however, they are crucial for business.

Gambling Taxes and Fees

Gambling operators in Egypt face stringent taxation policies:

  • Casino Gambling Tax: From one quarter up to half of the total earnings.
  • Online Betting Tax: With regard to the money obtained from online betting sites, winnings are subject to a 10-percent tax.

These taxes play a great role in the growth of the national economy; at the same time, they help to prevent the development of gambling vices.

Egypt Sports Betting

Football is the most popular sport in Egypt for betting, the Egyptian national football team has a great history of winning. However, other sports such as tennis, squash, handball and many other individual and team games also get the attention of the bettors.

Key Sports Betting Milestones

  • 2005: The activities of betting on sports became legal.
  • 2018: Anti-Cyber and Information Technology Crimes Law provided some guidelines on the legal position of online betting; however, online betting was still technically prohibited unless one has a local license.

Popular Betting Activities

Almost all Egyptian players prefer to bet on the international bookmakers because there are very few local betting sites. The offshore betting sites provide the customers with a variety of sports to bet on and the accepted currency is Egyptian Pound as well as other major currencies.

Sporting Event Glory Milestones

Egypt has been a country that has been known to have great sportsmen and women mainly in football and Squash. Here are some notable milestones:

  • African Cup of Nations: The Egyptian National football team also widely known as the Pharaohs has won the African cup of Nations seven times.
  • Squash Championships: Egypt is known for the production of some of the best squash players in the world and many Egyptian players have been crowned as the world champion severally.

Conclusion

Now let’s try to understand how to find your way in Egypt bookmakers and Egypt sports betting with the help of historical, cultural, and legal aspects. Nevertheless, it will be useful to describe these elements for those willing to involve in gambling activities within the country. Whether you are a tourist who wants to try your luck at a casino or a resident who wants to place a bet on sports, Egypt can provide you with a one of a kind experience of a classic meet the new.

FAQ: Egypt Bookmakers

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