The Vatican City is an independent city-state situated in the city of Rome, Italy and is famous as the center of Christianity and the headquarters of the Roman Catholic Church. However, the situation is quite different concerning gambling, especially Vatican City bookmakers and sports betting, which is the focus of this article. This article offers information on the legal frameworks of bookmakers in Vatican City, legal bodies, bans, permits, taxes, and achievements in sports.
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Table of Contents
Summary of Key Events
Bookmakers Laws and Legislation
The Catholic Church has never been very supportive of gambling since it has the potential of encouraging vice and addiction. In the present times, the Vatican has made specific efforts to avoid concentrating on any form of gambling such as the bookies and sports betting. Below is a detailed timeline of Vatican City’s gambling laws:
- 2019: The council for the economy of the Vatican in its recent meeting decided to put an end to all forms of gambling.
- June 2020: The Apostolic Constitution “Praedicate Evangelium” which was approved approved the formation of an Investment Committee to manage ethical investment, hence excluding gambling.
- October 2020: All related organizations were required to submit lists of their investments of which none was to be associated with gambling.
Regulatory of Vatican City Bookmakers
In Vatican City, the regulation of financial activities, including those indirectly related to gambling, is overseen by various entities:
- Council for the Economy: This body of the Catholic Church therefore act as the watchdog to ensure that the investments made are in conformity to the ethical standards put in place by the Church.
- Investment Committee: Under the creation of “Praedicate Evangelium”, this committee assesses all the investments to determine if they uphold the moral standards of the Church.
Licenses and Charges of Gambling for Bookmakers
Since the Vatican has placed a blanket ban on gambling, it means that there are no permits or charges to be made to bookmakers and sports betting. Thus, the Church’s position is inflexible to the extent that no organisation under its domain can engage in or invest in gambling.
Prohibited and Allowed Bets
Gambling in any form such as bookmakers and sports betting are completely banned in Vatican City. This is due to the fact that the Church has always emphasized on the value of life, the dignity of the person, and the welfare of society.
Gambling Taxes
Having analyzed the current situation regarding the presence of gambling activities it is possible to state that there are no taxes related to bookmakers or sports betting in Vatican City as these activities are prohibited. Rather, the focus is made on the ethical investments that can also be useful for the development of a just world which is sustainable.
Vatican City Sports Betting
Although there are no sports betting activities in Vatican City or allowed within the city, it does have its own sports and physical activities association known as Athletica Vaticana. This organization promotes the use of sports for unifying people, professionalism, and healthy living.
Sporting Event Glory Milestones
- 1985: It was obvious that Vatican City national football team had its first game against Austrian journalists and they won.
- 2013: National men’s cricket team of Vatican City formation.
- September 2021: Vatican City now has its own cycling team and this team joined the International Cycling Union.
- November 2021: Thus, Vatican Taekwondo became a part of the World Taekwondo Federation.
- 2022: The first time Vatican City had entered the competition of the Mediterranean Games.
Some of the famous Sports teams and activities that are offered include:
- Football: Vatican City has a men’s and women’s national football team, and a local league known as the Vatican City Championship even though it is not a member of FIFA.
- Cricket: It has a cricket team for men which was formed in the year 2013 and it plays only friendly matches for the promotion of interfaith harmony.
- Cycling: Therefore, Vatican Cycling being part of the International Cycling Union it was able to compete for the first time in the UCI Road World Championships in 2022.
- Taekwondo: This paper therefore explains how the Vatican has gradually engaged the international sports arena through joining the World Taekwondo Federation.
Conclusion
Therefore, Vatican City has a very aggressive policy towards gambling in all forms, including bookmakers and sports betting and only supports ethical investments in line with Catholic values. Even though there is a ban on gambling, it encourages sports with the aim of bringing people together and nurturing moral standards within the society.
FAQ: Vatican City Bookmakers
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