Gambling flourishes in Slovakia

Slot machines and roulette wheels in Slovakia are more profitable in relative terms than automobile factories and the IT sector, the Hospodárske Noviny daily reported on a Wednesday story. Gambling is prohibited in many major cities in the Czech Republic, while Austrians also have considerably limited access to it. On the contrary, gambling is flourishing in Slovakia. Companies in this field engaged in the most profitable form of business in 2013, even overtaking Slovakia's economic leaders: automobile factories and IT. According to FinStat figures, profitability stands at 12.61 percent in gambling, as opposed to 11.29 percent in IT and 6.47 percent in the car industry. The state has jumped on the bandwagon recently, increasing the deductions concerning certain forms of gambling two years ago. For example, in the case of slot machines the deductions were raised from €1,900 to €2,100 a year per machine. Thanks to higher deductions, the state budget should be enriched by €3.2 million this year. According to analysts, the other side of the coin should be kept in mind, namely the number of people addicted to gambling. The EU estimates that 5.5 percent of the EU population has a problem with gambling and has called upon states to be more responsible, therefore. Slovakia has taken multiple measures that should help to prevent and fight gambling addiction. Besides higher deductions, cities, towns and villages can completely prohibit gambling, depending on support in a local referendum.