Norway On Track for Regulated Online Gambling

Norway On Track for Regulated Online Gambling

Norwegian Culture Minister Thorhild Widvey is seeking to liberalize Norway’s online gambling laws.

Norway’s ambition to legalize online gambling has moved one action closer: the country’s customs Committee has requested an effect assessment on dramatic regulation proposals which could completely open the market up. The committee will closely examine the experiences of other countries, such as for instance Sweden, Denmark plus the UK, before drafting its own legislation that the federal government hopes to implement next year.

Norway currently has some of the gambling controls that are tightest in European countries. Online gambling is basically illegal in the united states, with just two companies that are state-owned to supply restricted games of possiblity to its residents, Norsk Tipping and Norsk Rikstoto. Norsk Tipping provides games like lotteries, keno and some sports betting, and falls underneath the jurisdiction of the Ministry of customs and Church affairs, which ensures that players are only allowed to place bets at certain times of the time and imposes restrictions regarding the amount players are allowed to bet. Norsk Riksoto, meanwhile, provides parimutuel wagering exclusively for horseracing.

Nothing to Bank On

In 2010, the federal government passed a law that banned Norwegian banks from processing all forms of gambling transactions, online and live, not just within Norway, but all over the planet, essentially bar Read more