Estonia is preparing to welcome a new surge of international investment after making online gambling legal.

The legalisation will also boost public finances through a specific taxation imposed on gaming operators, the Estonian Free Press reports. This year Estonians will be able to play nation-based gaming platforms such as the one set up by Olympic Casino group. Full international access to the Estonian gaming market will come into force in 2011.

According to the news provider, the decision to legalise online gambling comes after the success of the Baltic Poker Festival and the policy of other European governments to boost revenues from gambling by adopting ad-hoc legislation.

The Estonian market could be a gateway to high levels of investment for the whole Baltic market from international gambling operators, the report added.

This week, the market analyst Mondo Visione reported a marked increase in international investment interests in Estonia in 2009 as its stock exchange saw the second highest number of transactions in the last decade.