The Algerian economy relies
heavily on global oil and gas prices. While President Abdelmadjid Tebboune's
government has put forward reforms to strengthen the
private sector and the nation is enjoying a gas bonanza amid the energy crisis caused by Russia’s invasion of Ukraine the nation is heading for a crisis. The trade deficit remains a major challenge and is estimated at $30bn for 2022.
ALGERIA
Te Algerian economy relies heavily on global oil and gas prices. Whilst President Abdelmadjid Tebboune's government has put forward reforms to strengthen the private sector and the nation is enjoying a gas bonanza amid the energy crisis caused by Russia’s invasion of Ukraine the nation is heading for a crisis. Te trade deficit remains a major challenge and is estimated at $30bn for 2022. Te economy continues to be characterised by state interference, corruption, and a lack of competition.
No great surprise then that the gambling monopoly is still in place. Pari Sportif Algérien (PSA) runs traditional lottery games and a very limited number of sports betting games and there is no authorised online lottery platform. Indeed, online gambling in general is banned with the ban extending to horse race betting as well. Bets can only be made at the small number of racetracks that operate harnessed trotting events. In addition the government has imposed a whopping 40 per cent tax on lottery and horse race winnings.
In 2018, the government adopted a law that defined its first e- commerce regulations. It stipulated
P24 WIRE / PULSE / INSIGHT / REPORTS
that online markets must host their website in Algeria and be registered at the Algerian Commercial Registry. Te law prohibited the online purchasing of tobacco and alcoholic beverages and medicines, online gambling, and gaming services, betting and lotteries. While the government in theory actively enforces its ban on online gambling, offshore operators target the market.
EGYPT
Ultimately, Egypt only replaced one autocratic ruler (Hosni Mubarak) for another (Abdel Fattah el-Sisi) - who is arguably even worse. Today, an estimated 60,000 people are imprisoned for their political views, compared with 5,000 to 10,000 in the last years of Mubarak’s tenure, according to human rights groups.
With a population of more than 103 million people - nearly a third of Egyptians now live in poverty. Unfortunately Egypt continues to suffer from an economic crisis. In October, Egypt’s currency fell to 24 pounds against the dollar after the Central Bank of Egypt implemented a flexible exchange rate to secure a $3bn loan with the International Monetary Fund (IMF). Further economic woes look likely. Egypt has sought loans to pay for grain imports and it is also struggling to get to grips with increasing consumer prices as the currency continues to drop in value. Annual inflation climbed to 15.3 per cent in August. Meanwhile Egypt’s foreign debt has climbed from $37bn in 2010 —to $158bn as of March. Like Algeria the state's hold over the economy has for decades discouraged foreign investors and put pressure on the private sector leading to an overall lack of investment.
Players are not prevented from
playing via offshore sites. As such many international gambling companies operate and accept bets from Egyptian residents and there are no laws in place preventing local residents from doing so. Tey are however prevented from entering any of the 23 casinos located in five-star hotels or four- star hotels in tourist areas. A number of well known casino operators are present in Egypt including Caesars Entertainment and Lucien Barriere. Since Egypt is a Muslim country it follows the Sharia law which determines any act of gambling as illegal. Te currency used within the casinos is
The lottery is in decline partly because it is argued that the lottery is against Islamic teachings, but beyond this
argument the lottery product is limited and as is the case in Algeria, there is a huge tax on lottery winnings - over 40 per cent. Sports betting is legal. In 2005, the Egyptian National Post
Organisation teamed up with Intralot and signed an agreement for the provision to offer sports betting nationwide.
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