As the world continues to change and we shift to a new normal, the new normal and the future of gambling in Europe looks quite, grim.
Collectively, regulators want to set the bar for more regulations, tighter advertising rules and dig deeper into bonus structures. Many UK Gambling organisations are calling for a change in the Gambling Act. The change would reflect the online gambling scene and change from a liberal spectrum to a more organised regulated market. Germany is following suit, as they plan to make gambling more stringent and planning on introducing betting limits. The hub of European Gambling Sweden, the place where all casino sites aim to operate, also are making some changed. On the agenda? Limiting the deposit amounts for players, and taking a stance on deposits, bonus and free money awarded to players.
Many casino sites are currently looking at the European gambling scene, to establish where is the best jurisdiction. Some key points from each market include the following
The United Kingdom
The United Kingdom has always been one of those markets that casino sites what to crack into. Regulated by the gambling ACT that was published in 2005 and reviewed in 2014, the UK market needs a change. At least this is what entities such as GambleAware, the UKGC and YouGov advise. The feel of the current UK market is deemed as being too folk and liberal and causing the mounting gambling addictions era in the UK.
A survey conducted by GambleAware places a whopping 2.7% of the whole United Kingdom’s population as having a gambling addiction. Not a cool position to be in for the UK, and a worse position for casino sites that want to operate or set up shop here.
Drawing in an 11Billion Annual revenue, the UK market has been under the microscope for many years. MPs a calling for reform in-laws and regulations, whilst casino site owners are opposing these planned changes. Like it or not, the last say always goes to the ones laying down the laws, and we envisage the UK’s gambling scene will change drastically pretty soon.
The days of Labour’s liberal gambling facade are over as the UK sets to implement the following changes
- Banning of all gambling ADS, online and via Tv.
- Reviewing the slot limit from 100 GBP down to 2GBP. A reduction of 98 GBP in stake limits.
- Banning of all VIP schemes and programs
- Conducting independent financial checks on all players
The changes above could have a catastrophic move on many casino sites. First and foremost, we will see all the banning of in-game betting ads on TV. These normally remind us that we need to place our bets on the exact match score. Slot limits will now be much lower, with many casino sites citing this move will just leave them starving, jobless, closed. VIP schemes will no longer be a thing once MPs introduce a ban on all loyalty programs. This translates to the high rollers seeking new grounds outside the United Kingdom to make the lucrative big deposit and get the perks in return. And finally testing the waters, casinos would need to have each player go an independent financial check to see if the amount being gambled is affordable.
Many casino operators have expressed their dismay to the changes being proposed, however MPs and backed by the UKGC, Gamble Aware and entities that vowed to eradicate gambling addictions. MPs know this will be a bold move to combat gambling, and this is the only way to go ahead, killing UK casino sites in the process.
The introduction of banning id credit card usage for gambling purposes was the first step, and the anti-gambling movement will not stop there.
Germany is looking like a promising market. Having legalised online casino sites and poker play from July 2021. With the introduction of these new laws, a new and independent body with regulating the market and make sure that everything is running smoothly.
Of course, new laws on gambling bring new regulations that casino sites would need to adapt to. Some of the regulations will definitely outline the amount of money a player can deposit per gameplay, a move that is not going down well with operators that want to operate in Germany. Limiting deposits will definitely limit the amount of money that casino sites can make in revenue.
A deposit limit per month will be capped at 1000 Euros, which is quite lucrative unless you are a high roller. Spin stakes will also be capped at 1 Euro per spin initially, and the time for gambling advertising will be fixed from 9 pm and 6 am. A move that hopefully will not sway youngsters to the gambling route. The autoplay function for slot machines will also be banned, a move that did not go down well with casino sites everywhere. Side games to a game will also not be allowed, and fixed jackpots are also being halted with immediate effect.
More enforcement is also targeted to happen in Germany, with many illegal sites being warned and another closing down. Question is, will the new Germany rules and the UK rules have an impact on casino sites?
We still remember the days when NetEnt set up home in Sweden and the rest was history. That was the day that Scandinavia kicked off the buzz of online gambling and Europe looked on and followed suit. During the first quarter of 2020, NetEnt racked in a solid 496.7 Million, can you imagine how happy Sweden is with NetEnt? The answer is very.
However, not everything is bells and whistles and Sweden’s top lawmakers are currently looking into ways and means on how to make the market more regulated. As Sweden goes through the covid -19 pandemic, they are topic lockdowns and isolation will not result in the Sweded turning into gamblers. Some restrictions that they have put in place include a personal player deposit limit set at 5,000 SEK and the maximum bonuses that a player could scoop is 100 SEK. Not much, casino sites can do, however, players will also have playing time restricted by law.
What are casino site operators saying?
There are 2 sides to every story, and 2 sides to every coin. And this is what casino site operators are stating. Players could either abide by the new roles or just head to an offshore site where restrictions are not imposed. Will this diminishes or set a spike in gambling addictions. This is what is currently being argued. On the other spectrum, casino sites are pretty sure that having all these rules are regulations will either kill their business or they will just stop operating in these markets.
In the meantime, we will keep an eye out and let you know which casino sites are worth a visit or not. The choice is still there!