This is too much for common sense, i think. I mean that this point "“Excise duty on betting at 20% of the amount will be wagered,”" is beyond good and evil. In all normal countries casino pay tax for their income and in some EU countries gambler pays VAT from what he won. Not from total wager amount, this would be too stupid.
If I understand it correctly, there's a certain winning amount for it, not 20% for every amount won because what if the winnings is just small.
But generally, the purpose of that terms is to discourage betting that's why they imposed a crazy tax like that.
Several months from now, let's see if that will really minimize and discourage betting on their place.