Casino Gaming Regulation: Where Are We Heading?
Casino Gaming Regulation: Where Are We Heading?
In recent years, more and more countries around the world have decided to legalize betting practices.
This is happening for several reasons.
The main one is the realization that if a phenomenon is not regulated, but tends to be spontaneous among people, it is highly likely to generate illegal and therefore uncontrollable activities.
In other words, governments around the world know that prohibiting gambling creates the optimal conditions for the black market to flourish, with the additional harmful effect of not protecting players.
The second and relevant reason is the deprivation of the national budget of a profitable source of tax revenue.
As can be guessed, regulating gambling creates the possibility of taxation that can secure substantial revenues for the state coffers.
In short, more and more countries are coming to the conclusion that regulating iGaming is infinitely more beneficial than trying to prohibit it.
Therefore, considering several jurisdictions that find more advantages than disadvantages in the legalization of iGaming, it is fair to ask: what is the dominant global trend of legalizing wagering?
In the following, we will analyze the situations of some countries, including some that have recently been regulated, such as the province of Ontario in Canada.
Ontario - Canada
In Ontario, online playing was legalized in April 2022 and bookmakers are hoping for a bright future, as Canada's largest province became the first to allow private companies to offer gambling activities.
Currently, bettors in Ontario can play online slots and bet on sports through sites authorized by the provincial government.
Previously, Ontario was known to be a grey market, as bettors used offshore portals and the provincial monopoly, the Ontario Lottery and Gaming Corporation.
The latter launched Proline+ after the authorization of betting on certain sporting events.
As of July 2022, we have 31 registered iGaming Ontario operators in this Canadian province.
Each site is launched after a certain period of time, respecting a moderate and gradual growth in the number of operators.
The Alcohol and Gaming Commission of Ontario (AGCO), an industry regulator, considers the potential revenue growth of emerging markets, although no concrete figures have yet been published.
With several operators aiming to expand into the United States - where online gambling is legal - legalization in Ontario is a big deal.
Forecasts estimate that this province will become a leader for Canadian sports betting, even if it is not a real emerging market.
In fact, due to the cultural acceptance of wagering on offshore sites prior to regulation, players are accustomed to conditions similar to those in a more established market.
In Germany, on 30th April 2021, the federal states signed the State Treaty on Casino Gaming, and as of 1st July, regulations on online casinos and sports betting were released.
This state treaty on iGaming activities is designed to guarantee the protection of gamers who frequent online portals.
And it provides that an iGaming control and supervision organization will be established in the state of Saxony-Anhalt.
This body will be in charge of regulating German online portals and monitoring operators' compliance.
The law in Germany requires players to have a personal account with identity verification in order to prevent fraud and underage playing, which is prohibited.
In addition, for German players, there is a monthly deposit limit of €1,000 and a wagering limit per spin of €1 on online slots.
Finally, both slots and online Poker have been partially legalized, after lengthy negotiations as neither was initially considered.
In the Netherlands, the issue of revised gambling legislation officially started in 2012, although it had been needed since 1964.
In October 2021, the KOA (Remote Gaming Act) was established, which was originally supposed to come into force on 1st July 2020.
But for various reasons - including COVID-19 - the date was postponed several times, to be approved on 1st April 2021, although the market was reopened in October.
In short, the Netherlands holds a real record for the length of the process of legalizing online casinos.
The legislation was set by the Kansspelautoriteit, or KSA (Netherlands Gambling Authority).
To date, the KSA has granted gaming licenses to 10 operators, including:
René Jansen - president of the KSA - sees the legalization of iGaming as a smart move to protect consumers from abuse.
Currently, Dutch bettors can legally play at online casinos and gamble on sports.
We all know the difficult situation Ukraine is experiencing because of the war.
Back in 2019, Ukrainian President Volodymyr Zelensky presented an initiative in favor of the authorization of casino wagering, a bill adopted by the Verkhovna Rada on 14th July 2020, which was converted into law on 11th August.
After this measure, both land-based and online casinos, slot rooms and online Poker sites were legalized.
Although the first license was issued in 2021, operators in the sector had been waiting for legalization for more than 10 years.
The widespread opinion - including of the government - is that the development of the wagering industry in Ukraine is hindered by the operation of illegal online portals and illegal staking establishments, as well as by the lack of changes in tax legislation.
In this article, we have tried to understand the direction in which the world is heading towards the authorization of casino gaming.
Authorities in countries where bookmaking is legalized or plans to be legalized have high hopes for the flourishing of the gambling industry.
This, both in terms of long-term economic development and legalization.
Indeed, enacting laws in the field of online betting is crucial in reducing the level of corruption and can contribute to the development of social programs and related industries.
This, can create additional jobs and bring additional revenue to state coffers.
We would like to remind you to always opt for legality and to bet in moderation, without considering bookmaking as a tool to get rich.