Estonia is one of the countries that was most affected by the recent economic crisis. The effects were so strong it seems its entry into the Eurozone seems have been postponed indefinitely. The economy of the small Baltic state fell 36% following the crisis, one of the hardest hit countries in Europe.

This situation led the Estonian government to seek in online gambling as a lifejacket for its finances. The legislation draft includes two phases: from 2010, Estonian citizens will be allowed to play at sites owning a local license, but after 2011, the Estonian market will open to all foreign operators. In the period between the first and second phase, the Government will develop regulations for foreign operators.

The Estonian government intends to impose a tax of 5% on gross revenues, hoping that these funds help restore the national economy. Although the bill’s rules have not yet been defined, several foreign operators have already shown great interest in this market, considered the gateway to other Baltic markets.