Norway

No way Norway opens up its gambling business

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Nordic countries have always been very profitable for the online gambling and betting operators. Even though the population of these countries is not too large, the weather conditions and the customers’ net worth are making countries in this region a goldmine for online casinos and sports betting houses. Many international operators have been looking forward into obtaining Norwegian regulation and servicing the customer under a proper regulatory umbrella, yet recently it became clear that the chances of seeing Norwegian gambling regulated are very small.

Unlike other countries as Sweden, Finland and Denmark, Norway keeps a monopoly on its gambling and betting business. As seen on http://nyecasino.ninja/, until today there are only two state-owned companies that provide such services legally on the territory of Norway – Norsk Tipping and Norsk Rikstoto. Even though the aforementioned countries were not enthusiastic towards regulating gambling and betting services for the international operators, they were left without a choice as European Union guidelines are requiring every each of its member to do so. However, Norway is not a part of the European Union, which means that it can take any legislation regarding gaming.

One of the main reasons why Norway would like to keep its monopoly on both offline and online gambling is to control the popularity of such services. It is clear that ones the industry becomes more open towards private companies, Norway will experience some huge advertising campaigns by the large operators that would aim to take the largest slice of the Norwegian market. Apart from that, international players may take away a substantial market share, hence leave less profits for the state-owned gambling houses.

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Recently, the government of Norway has announced that it does not see any potential reasons why the local gambling market requires to be regulated. So far Norwegian monopoly on the gambling business has been working effectively and it is believed to operate in the best interest for the local customers. On top of that, Norwegian officials are expecting to implement more measures to promote responsible gambling.

No way Norway opens up its gambling business was last modified: January 20th, 2017 by CasinoNews.Today