Each Scandinavian country has its own rules when it comes to the regulation of gambling or online casinos. There are different approaches regarding iGaming or land-based casinos and you will see different policies working under each regulatory body. If you dig into the information on gambling, you will see tax-free countries like Belgium and Canada, and other countries like India opposing the concept of online gambling or even simple gambling.
As such, there are different countries in Scandinavia each following its own rules that regulate gambling. To know more about the different countries and their regulatory bodies that are impacting gaming and online betting, or the gaming industry, you can visit this blog. Moreover, the rules and regulations of online gambling in Scandinavian countries are discussed below:
Legalities in Denmark
In Denmark, there exists no difference between poker and casino games or/and gambling legalizations. If you are interested in Fantasy leagues, you will have to require a license to regulate pool betting. Moreover, there is no license for free prize draws and the gambling duty over the prizes is expected to be paid by the operators. GDA takes full control of casino gaming, betting activities, poker, and bingo. They take care of the betting regulations, lotteries, digital casinos, and land-based casinos or betting in any form. Denmark is a tax-free country where gamblers do not require to pay anything for their rewards.
As long as the subscribers are following the Swedish Gambling Act, they are allowed to maintain online casino operations within the jurisdiction of the country. The impact of this law came within the country in 2019. This act mandates any company that intends to involve in gambling or gaming at their respective sites to secure a license to operate under the jurisdiction of the government.
This law not only covers online casinos but also land-based casinos, and covers any kind of practices related to sports betting or lottery platforms that may exist online. Swedish Gambling Authorities took over the charge of assessing, overseeing, and regulating any company that is mandated to operate any kind of casino in Sweden.
The Monopoly of Two Gambling Companies in Norway
The Norwegian Gaming Authority takes the charge of controlling both private and state lotteries, horse riding, and other gambling activities. There exist two companies that take charge of gambling and possess a monopoly in the country. Norsk Tipping is responsible for the regulation of sports betting and lottery while Norsk Rikstoto is designated as the single organizer of horse riding.
Moreover, if you want to arrange gambling at your residence, you are allowed to do so unless or until you run it as a business. You are allowed to bet on any online betting site in Norway but the authorities do not allow you to directly transfer your money to foreign betting sites as banks are not involved in these betting activities. Moreover, you will have to pay a tax of around 28% if you win a bet that exceeds 10,000 NOK ($1180) in profits.
It is interesting to see how these Scandinavian countries deal with their regulatory activities in terms of gambling, including online gambling. Time will tell how the lenient rules and pressure on the governments of these countries will lead casino operators to establish themselves within these territories.
This is a paid guest post.