iCrowdNewswire Jan 18, 2021 9:43 AM ET
Generally speaking, European countries have progressive online gambling laws. Some nations permit all forms of online gaming, from lotteries and bingo to slots and card games. Others allow online casinos but control the industry so that the government keeps all the profits.
In light of that information, online casino players have varying experiences depending on where in Europe they live. In this article, we’ll talk about eight countries where online gambling is incredibly popular and we’ll highlight their iGaming laws.
The UK might have severed political ties with the EU, but it is still the biggest gambling market for online casinos in Europe. It has a long history with gambling legalization. However, the kingdom legalized online casinos in 2005 with a Gambling Act that helped create the Gambling Commission (UKGC).
The UKGC is one of the most respected gambling regulators in the world. It has legalized over 200 online casinos and 800+ sportsbooks. Unlike some regulators, the UKGC is pretty strict in enforcing its gambling laws. As a result, many casinos licensed in Britain tend to be safe, secure and trustworthy.
Besides safety, online casinos in the UK don’t charge players fees on their winnings. That means whether you win £100 or £10 million at a British casino, you don’t need to pay taxes. Another benefit is that the regulator works closely with operators to reduce problem gambling. And in doing so, you can bet on British casinos to help instead of admonish people that need gambling addiction help.
Finland runs online gambling through three government-owned organizations: Veikkaus, Fintoto and RAY. Each organization has a unique role. Veikkaus controls online lotteries, sports betting and instant win games. Fintoto, in contrast deals with land-based casinos while RAY is responsible for horse racing.
Based on Finland’s Acts of Lotteries law, foreign online casinos can’t set up their offices in the country. However, this doesn’t mean people in Finland’s can’t join offshore casinos licensed in Malta or the UK. Thousands of Finnish gamblers flock to foreign gaming sites every year in search for these benefits:
- High-paying games
- Fair Bonuses
- Quick payouts
- Reliable Customer Service
Luckily, there are many online casinos willing to accept Finnish players. dreamz.com, a top-rated casino licensed in Malta is one of them. It features 1000+ slots and card games, including live dealers. It has a series of bonuses and a mobile-responsive website that supports the Finnish language.
A former member of the British Commonwealth, Malta is now one of the biggest iGaming legalization hubs in Europe. It first legalized the industry in 2001 to help its citizens enjoy online casinos. Over time, it started to license casinos whose aim is to provide casino games throughout the world.
Today, Malta generates 12% of its GDP from online casinos. It licenses hundreds of online casinos and sportsbooks which together provide games to millions of people in the world. That said, the small Island off the south coast of Italy is pretty strict to casinos too.
Not only does the Malta Gaming Authority run background check on casino senior staff members to ensure they are professionals, but it also imposes measures to protect players. For example, every casino must secure its website, payout consistently and operate transparently.
For a long time, online gambling laws in Germany were complicated. Online casinos were licensed at a state level. The state of Schleswig Holstein used to have its own rules—it had more progressive gambling laws.
By comparison, the remaining states allowed private casinos to provide some form of online gambling through a treaty signed in 2012. Last year, the heads of all states met again to create unified iGaming laws. They settled on legalizing online casinos and sports betting starting July 1, this year.
Sports betting will be limited to a few betting markets and bet types—the final score and goal scorer. On the other hand, slots will be capped at €1 per spin and must not feature an auto-play function or a jackpot. Another rule is that states could prevent casinos from providing table games.
Sweden has been progressing towards liberal online casino laws over the years. However, it still runs the industry through a monopoly organization: Svenska Spel. Like many governments that monopolize the industry, Sweden restricts the iGaming industry to maximize tax income.
Unfortunately, that’s not something Swedish players appreciate. The presence of only one casino means Svenska doesn’t have to give out bonuses to players. What’s more, it doesn’t have to increase its gaming positions or work on customer service.
Against that backdrop, it’s not a surprise that thousands of casino players in Sweden prefer to play at offshore casinos licensed in Malta or the UK. These businesses provide a lot more games, bigger bonuses and quicker payouts. What’s more, they have large player pools, which makes live casino gaming more exciting.
Online gambling is legal in Italy and there are over 160 casinos licensed by the AAMS. Italians can also play at offshore casinos—this is the more preferred option because foreign businesses provide better overall experiences. These companies also don’t charge taxes on winnings, something Italy-based casinos do.
Norway provides online gambling is the same style as its Scandinavian neighbors—through a monopoly organization called Norsk Tipping. The website has slightly over 200 games from a few well-known software providers.
It’s relatively popular, especially now that Norway is fighting ardently to prevent Norwegians from using offshore casinos. Precisely, the Scandinavian country now requires all banks and e-wallets to block foreign casino payments. It has also suspended foreign casinos from advertising on local media stations.
Online gambling is legal in Denmark. However, Danish authorities require that all operators that want to serve its citizens to acquire a license from the Danish Gambling Authority. The DGA, like Norway, has been working hard to fight off foreign casinos for the last few years.
In 2018, the organization won a crucial legal battle which led to ISP providers blocking the IP addresses of offshore casinos. It’s still fighting these businesses. However, Danish players interested in offshore casinos have a few ways of getting around local restrictions.
The post Online Gambling Laws in Europe—These 8 Countries have Progressive Laws appeared first on Financial Market Brief.