Online gambling in the EU

Henry Boehm Comments Off on Online gambling in the EU

Six of the top ten countries for gambling are in Europe: Spain, Greece, Norway, Italy, Finland, and – in third place overall – Ireland, which is beaten only by Singapore and Australia. With the continent of Europe clearly a hot spot for the thrill of gambling, you may well be interested in taking a closer look at how online gambling operates in the EU.In the EU, gambling forms a booming market: it is estimated at nearly 85 billion euros, with an annual growth rate of 3% or thereabouts. Of course, in this modern age, it should go without saying that online gambling forms a significant aspect of this market. In the EU, regulatory frameworks vary from country to country, so the exact structure of the online gambling scene will depend on each individual nation. Overlooking this variety is the European Commission, which since 2012 has been taking significant steps to ensure that EU gambling legislation is as clear as possible.In some countries, including France, Denmark and Hungary, domestic monopolies are in force; this means that online casinos are only allowed if they have been granted permits by the government of the country. However, other member states are rather more liberal.In early 2015, multiple European governments collectively overhauled online gambling legislation. The intention behind this move was to end some of the more ambiguous aspects of the gambling scene, making it a fairer world for everyone concerned. However, smaller European gambling outfits were faced with higher fees thanks to the new regulations, making it harder for them to gain a foothold in the competitive market. The full impact of these legal changes on the online gambling scene of the EU remains to be seen.We hope that this quick overview of online gambling in the EU has answered any questions that you may have about the subject.

Categories: Gaming