LeoVegas integrates into NBO association.
The Swedish online gaming company LeoVegas has joined the Norwegian Online Gaming Association (NBO - Norsk Bransjeforening for Onlinespill). This move is aimed at strengthening the rapidly expanding industry, which is currently being severely restricted by the Norwegian government. The NBO, on the other hand, is working to abolish the Norwegian gambling monopoly. The two sides seem to have become more entrenched, so LeoVegas' entry is a significant statement.
Focus on modern gambling policy
LeoVegas, a Malta-licensed online gaming provider known for popular slots like Starburst, Cats, and Ariana, is the latest addition to the NBO. Established just 18 months ago under the leadership of Carl Fredrik Stenstrøm, the association now has five members, including the prominent industry players Betsson Group, ComeOn, Kindred Group, and GiG (Gaming Innovation Group).
The reasoning behind this membership is that the Norwegian government has been attempting to suppress online gambling for years while holding a monopoly. Currently, Norsk Rikstoto and Norsk Tipping are the only legally licensed operators in the country. Rather than guiding the market towards EU-compliant regulations, the rapidly evolving sector is facing increasing restrictions. LeoVegas intends to advocate for comprehensive gambling reform in the future.
Stenstrøm, the NBO's leader, was previously a commercial director for the horse racing monopoly Norsk Rikstoto. LeoVegas' involvement is viewed by industry expert Stenstrøm as a noteworthy sign to the government. The inclusion of a market leader highlights the credibility and impact of the gaming association.
Hans Uhrus, LeoVegas' Communications Director, confirmed their appreciation for the NBO's efforts and desire to fortify their alliance. Together, they hope to challenge the gambling monopoly and create a new and appropriate gambling policy. Additionally, the NBO is advocating for the repeal of the Norwegian advertising ban.
Criticism of the gambling monopoly
Since its launch, the NBO has been advocating for the abolition of the Norwegian monopoly in favor of a more accessible licensing system. They argue for regulating the market to support sports and cultural initiatives. They also aim to steer customers away from illegal sites, where inadequate player protection measures are often found.
The NBO asserts that only Norway and Finland still maintain a gambling monopoly in the European Union. Defending a monopoly is only viable if it benefits consumer protection. However, that is not the case, as demonstrated by recent statistics. Over 250,000 Norwegians still use the services of foreign online gambling companies.
Stenstrøm has observed the growth of online gambling for some time. The monopoly model is outdated as players and gambling products no longer respect national boundaries. Consequently, Norway needs regulations to control the entire market and weed out unscrupulous operators.
Monopoly threatens player protection
The NBO cites concerns about a concerning rise in gambling problems, as evidenced in a University of Bergen study released in May, which revealed that 55,000 individuals in the country suffer from gambling issues, compared to the 34,000 count in a 2015 study. 9,000 individuals between the ages of 16 and 74 were surveyed.
The NBO deplores this trend and insists that the only effective solution for reducing risks is the termination of the gambling monopoly. A legislative shift could enable more regulated customer activity. The flow of consumers to illegal websites could be reduced, as has occurred in the newly regulated Swedish market.
Norway maintains its stance
Despite the cogent arguments, the Norwegian government remains committed to upholding the current laws. Early this month, a revised gambling legislation was submitted to the EU Commission for ratification, aiming to harmonize the lottery law, gambling law, and totalizator law. This initiative purportedly aims to address gambling problems while safeguarding vulnerable players.
A spokesperson underscored the government's goal of ensuring responsible gambling. Their objectives align with the primary objectives of Norwegian gambling policy, which include curtailing problematic gambling activities and enhancing player protection. Ongoing efforts to prevent criminal activities and private profits from gambling are also emphasized.
For now, the existing prohibition on funding foreign gaming providers will remain in place. Bjørn Helge Hoffmann, Head of Norsk Tipping for Responsible Gambling, contends that despite Norway's gambling issues, abolishing the current monopoly is not a viable solution, but rather strengthening it. We'll see how things unfold.
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Source: www.onlinecasinosdeutschland.com
