Playing casino games was never as easy as it is now. They are available online and can be played at your own convenience from any part of the world. Most of the people who join the online casino games, try to figure out who is giving a good deal and welcome bonus, payment and withdrawal options, the range of games on offer, etc. Very few try to figure out how genuine the platform is.
If you register at a less reputable online casino just because the number of free spins on offer is huge, it may put you in an unwanted situation. This is something that you need to be aware of before you even sign up for a particular casino. To avoid such circumstances, you must have basic knowledge about the laws and regulations of online casino gaming as they are formulated to protect you and your money.
You should know that a pretty high of players from the EU still participates in online casinos who are not credited by their countries. We can see this on the example of Germany and Scandinavian countries who’ve decided to regulate this field in order to prevent malicious influences. A high majority of online casinos are registered in countries like Malta, Luxembourg, San Marino, and territories like The Isle of Man.
Even though there is nothing wrong with them operating within these countries, they are not credible to operate in other countries. The reason many online casinos choose these countries as their native ones is that they are tax-free and they don’t have the set of regulations that prevent online casinos from operating. As we’ve already said, there is a high number of players who play on this type of casinos even in this day and age.
As you can imagine, every country in the world has its own set of regulations when it comes to online gambling and gambling as of the whole. In fact, we can see that some of the countries in the world have different sets of regulations, heavily based on the provinces or states within the country. Therefore, you need to inform yourself pretty well before you actually start to participate in gambling activities.
iGaming in Sweden
Previously, monopoly prevailed in the Swedish Gambling as only two identities Svenska Spel and AB Trav & Galopp along with some of the so-called charitable non-profit organizations were given permission to operate gambling services. However, with the introduction of the latest Swedish Gambling Act on 1 Jan 2019, private players from the open market are now allowed to apply for the licenses to provide online gambling services.
The main objective to come up with this act is to protect the people from problem gaming and also to generate revenue for the state. The Swedish state will get 18% as tax for these casinos now. The regulations of this act are applicable equally to one and all. As you can presume tax payments are made on a yearly level. Swedish Gambling Act provided players from this country with an opportunity to see the difference between credible casinos and other, uncredited casinos.
If you take a look at the situation before this law was passed, you will see that Sweden had nearly 30% share of total Scandinavian revenue from their online casinos. This is only one perspective. When you see that this percentage resembles only about $2.5 billion, you will see why this regulation was essential for the country, which has a massive potential to earn from online casinos.
iGaming in Denmark
Danske Spil that held a monopoly over Denmark’s gambling industry was formed in 1948. It continued to hold the position for more than 50 years. In 2012, Act No. 848 was introduced with a new set of rules and clauses pertaining to online casinos and the gambling industry. These new laws have been drafted in a view to modernize and channelize the Danish gambling industry. This is a law that introduced some of the most essential things needed for the gambling industry, and online casinos in particular.
Prevention, Protection, Safety, and Supervision are the main four points of Act No. 848. However, the Danish Gambling Authority is still not very liberal in granting licenses for private service providers like the Swedish. Instead, they are more concerned about improving the gaming experience of the players by enforcing the above four points. After all of this information, you can see the conclusion and why this regulation was needed.
iGaming in Norway
iGaming at international online casinos is formally prohibited in Norway. Norsk Tipping and Norsk Rikstoto are the only two permitted iGaming services provide in the country. This is the reason why many Norwegians think that the online gaming industry here is a kind of monopoly. And since Norway is not a European Union member, it is not under any pressure to change its laws and the monopoly continues.
However, the Norwegian people love playing online casino games on international online websites that are reputable and trustworthy. A recent study has revealed that the number of Norwegian iGamers playing on international online casinos is only increasing every quarter.
Services such as NorskCasinoHEX.Com give a possibility to play demo games for free as well as to choose a reliable casino to play for real money. The online casino allows a number of alternative payment options that are popularly being used by the Norwegian iGamers, such as Paysafe Card, Skrill, Ecocard, Zimpler, WebMoney, etc.
It is high time that the Norwegian government takes note of the current situation and comes up with some competitive rules and regulations on the gambling industry. It will surely be a win-win situation for the government as well as the players if the rules are loosened a bit.
The Bottom Line
It’s highly important to know what is the regulation of online gambling in your country. Thankfully, this is public regulation that everyone can see and you will have absolutely no boundaries when you want to see these. We’ve provided you with the set of gambling regulations in the Scandinavian countries, Norway, Sweden, and Denmark. Since online casinos are a pretty common activity in these countries, we felt obligated to provide some insights into these regulations.
Since EU regulations are not at the appropriate level in this field, every particular country needs a set of regulations of its own. Also, some of the things that are particularly interesting in this field need to be regulated in order to prevent all of the unwanted things that can emerge every now and then. There is no escaping them without a proper law.