Norwegian Gaming Board initiates measures against money transfers.
To control illicit internet gambling, the Norwegian Gaming Authority (Lotteri- og stiftelsestilsynet) requested banks to cease money transfers from seven worldwide payment platforms. Their objective is to curtail the funds exchange between illegal internet gamblers and Norway-based players.
Recent audits of customer accounts by Trustly, Entercash, Earth Port, Inpay, Worldpay, and Norwegian firms Stay Cool and Betclic Everest Group affirmed their utilization for deposits and withdrawals with online gambling providers. The Norwegian Gaming Authority's analysis suggests that 90,000 transactions by Norwegian customers with a total value of 2.2 billion Norwegian kroner were facilitated across these seven accounts in 2016. The first two months of 2017 saw an additional 500 million kroner in transactions. Combined, this equates to approximately 290 million euros. Banks received a directive from the Authority on March 29th to discontinue any transaction exchange with those accounts. However, customers may or may not be refunded, depending on whether the gambling services can locate alternative payout solutions.
Norwegian Online Gaming Regulations
In Norway, gambling is restricted to state institutions. The Norwegian Gaming Authority legally authorizes solely Norsk Tipping AS and Norsk Rikstoto to engage in monetary-based gaming. Any practices beyond the state monopoly are deemed illegal. In response to an escalating prevalence of online gambling providers, the Norwegian parliament legislated in 2010 that Norwegian credit card providers and other payment service providers must refuse customers transactions with global gambling providers. This rule applies to both online and offline gaming operators. The law remains the legal foundation for today's money transfer restrictions.
Disputing the Continued State Monopoly
As expected, various viewpoints have emerged. The Norwegian government upholds the existing regulation framework, citing optimal supervision over gambling and safeguarding players from addiction impacts. Additionally, studies of potential Norwegian gaming and betting policies emphasized the state monopoly's relevance for player protection and using profits from state-owned corporations for community ventures, such as sports amenities. After launching this study in 2013, Norway's Culture and Church Minister, Linda Hofstad Helleland, urged against relaxing the state monopoly in late 2020.
The state monopoly doesn't only incur criticism from private gaming providers aiming to enter the potentially profitable Norwegian market but also from international organizations like the European Free Trade Association (EFTA). State monopolies clash with EFTA's free trade enforcement plans, and Norway, as an EFTA member, has endured censure and warnings previously regarding its gambling monopoly. Previously, Norway had to counter the EFTA court in cases like the 2007 one, which revolved around the prohibition of private gaming machines in the country. In one instance, the EFTA Court ruled in the government's favor, maintaining that gambling in Norway could only be conducted on state-run machines via a specific player card.
The circumstances in Norway bear similarity to Germany's regulatory framework. Nevertheless, it's hard to imagine a stern government response via banking restrictions akin to what the Norwegian Gaming Authority has undertaken. At present, Germany's gambling monopoly teeters under pressure from the EU Commission, while Norway maintains its grip on the situation, as evidenced by recent events.
Read also:
- Columbia University Faces Possible Expulsion Following Demonstrations
- Football turmoil in Munich: Last-minute penalty stuns Bayern
- Steinmeier Faces Backlash Over "Expert Caliber" Remark
- US State Department Lacks Own Standards in Regard to Israel
Source: www.onlinecasinosdeutschland.com
