Norway’s gambling regulations
If you know anything about Norway you probably know that they like to do things their own way.
If the country decides to step its foot down and adapt changes or regulations that practically no one around them agrees with, they will still do it. One of the best examples of this is the never-ending negotiations that stretched out for years between Norway and the EU about the fishing regulations. Since fishing is so important to the country they weren’t willing to let an outsider decide how to do things even if it would have made things much easier for everyone involved. So Norway is stubborn and has been for a long time.
Unique gambling regulations
Another industry that also showcases just how true this statement is is their gambling industry. The regulations around casinos and playing online are unlike anywhere else and even though the European Union has been pressuring the country to adat more universal regulations, and some of its immediate neighbors like Finland and Sweden have finally caved in on the regulations Norway is still playing in its own lane and has no current plans to change their gambling system.
The way gambling works in Norway is practically completely unique to the country, who has a gambling monopoly and has allowed only 2 casinos to function within the borders.
The two companies allowed to offer gambling services to Norwegians are Norsk Tipping and Norsk Rikstoto. You can apply for the permission to offer very limited gambling services but you can’t get a license to be called a casino and as if that was not restrictive enough, all the gambling venues, no matter how limited their services are, are obliged to allocate 35% of their learning to Norsk Tipping and 30% to “good causes”
Pressure from the outside
European Free Trade Association has raised multiple concerns over Norway’s approach to gambling but to this day Norway is still operating its gambling scene in the same old way.
Clearly, these measures are too restrictive and most people agree that it is directly connected to Norway’s desire to protect revenues that come from gaming services.
Norway’s unique approach to handling gambling does not stop there. They also have quite a weird attitude towards online gambling websites that allow Norwegian citizens to play. If you decide to play on a website that does not operate under any of the aforementioned licensed casinos, you won’t really get into any trouble, but the operator will.
These policies are “designed” to protect users but in reality, they are subjecting them to even more regulatory issues, considering how many websites have access beyond the Norwegian firewall.
A branch of an international company in Norway, labeled as the new casino Spinia Norway has already expressed its concern for the local customer base as gamblers become more and more reckless in where they spend their time. It is predicted that sooner or later, this blatant cover-up of the regulation is going to lead to somebody getting scammed.
Because the policies are so strict the players have to find other ways to gamble without getting the casino in trouble and this is where cryptocurrencies and blockchain services, in general, come in extremely handy. This has created a completely new wave of bitcoin casino and cryptocurrency gambling venues that offer their clients easy to gamble without having to put the casinos at risk.
Future of gambling
The gambling industry as a whole has benefited greatly from the introduction of these technologies not only are these payment methods faster and more effective, they have created a unique experience for the customer that makes the process of making deposits and withdrawal that much easier. The introduction of cryptocurrencies into the Norwegian gambling industry has definitely helped the local gamblers to feel at ease when playing with websites that don’t operate under the two companies that have monopolized the entire gaming community.
What’s more interesting is that even though the government officials in Norway are aware of these trends they still refuse to give their citizens what they want, meanwhile they’re missing out on even bigger revenue by not creating more casinos that could operate in the country with the license.
The opinions around cryptocurrency and casino accepting cryptocurrencies aren’t overtly negative but still, the monopoly of the gaming industry seems like something Norway wants to hold on to for any cost.
This type of approach stunts the growth of the industry but meanwhile the citizens that do want to be limited in their choices are using cutting edge technology to get the services they want and deserve. Despite the many calls from the outside to change their existing policies, Norway refuses to cooperate and is stubborn in the ways in which it deals with the possibility of accepting other options for its gambling scene. Many countries have already embraced the pers of operating crypto-focused casinos and overall, making the transactions with crypto, It seems like Norway is still not there on its journey towards a healthy gambling system.
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