The Netherlands grants its first licenses to operate online casinos.
Throughout Europe, nations are attempting to regulate the gambling sector, with a special emphasis on online gambling. This is due to the widespread existence of unlawful online casinos in all countries. To ensure the safety of players and generate revenue, many countries are revising their gambling legislation. While Germany has had the Gambling State Treaty in effect since July and gambling establishments can now apply for licenses, the Netherlands has also implemented legal regulation. Unlike Germany, licenses have already been granted to online casinos in the Netherlands.
The Elated Party-Goers
Thus far, 10 licenses have been awarded to online casinos, allowing them to legally offer internet gambling. One of them is the renowned online bookmaker Bet365, which has obtained a gambling license. Yet another contender is the state-run gambling provider Holland Casino, which operates casinos across the Netherlands. However, it remains unknown which of the remaining 8 licenses have been awarded.
On the other hand, numerous companies have applied but have not yet been granted a license. Naturally, the government has its reasons for this, as some well-known gambling providers have recently run out of money.
No License for the Bold Ones - No Permit for Entain and PokerStars
While Bet365 is now deemed a legal gambling provider in the Netherlands, the giants Entain and PokerStars are out of luck. Both had sizable market shares and generated millions in sales each month. Entain alone brought in a monthly turnover of 6 million euros in the Netherlands. Nonetheless, this will soon vanish, as the two gambling behemoths must momentarily halt their operations. The state also has valid reasons for its actions, but this will not appease gambling enthusiasts fond of these platforms.
No License for Unlawful Gambling Providers
The burning question arises as to why certain companies did not receive a license despite applying for one. The legalization of online gambling is viewed as a major achievement for the industry. However, the market leaders are the primary losers of this new law, courtesy of a singular reason. Giants Entain and PokerStars had previously provided their services illegally, earning them a penalty. No direct monetary penalty or the like will be imposed, but they will have to halt operations for the next six months. The loss of millions of dollars in the mid-to-high double-digit millions will be incurred, but they will ultimately recuperate. Both have expressed intent to wait out the penalty period before resuming their business legally. Nonetheless, the illicit actions of the past could result in harsher regulations in the future. It remains intriguing to observe how the situation will unfold within the next six months. Moreover, both giants will have to reapply for a license that must also be approved. It remains uncertain whether they will encounter any drawbacks in the process.
A Limited Number of Licenses
Gambling providers must act promptly when applying for a license, as the Dutch government plans on awarding a total of 35 licenses. This translates to 25 remaining spots, meaning providers cannot afford to procrastinate. They must demonstrate that they have adhered to all safety standards. Upon satisfying such criteria, they will also obtain their respective licenses. For Entain and PokerStars, this won't be a hurdle, as they'll submit their applications during their enforced hiatus. Consequently, their applications are expected to move quickly, as greater certainty is preferred to preserve their existing customer base.
GGPoker and PartyPoker as the Triumphant Underdogs
Providers GGPoker and PartyPoker are also well-liked and prevalent in the gambling sector. They possess an advantage over Entain and PokerStars, though, as they never provided their service in the Netherlands before. Consequently, they will not face any penalties and can swiftly secure their licenses. This is a significant advantage, as PokerStars patrons will now be in search of a new online poker platform.
For six months, bettors can play on these platforms, making customer satisfaction a foremost priority. Some may revert to PokerStars after the 6-month period, while not all will. This depends on the quality of the offered services.
Online gambling in the Netherlands: a popular pastime
Online casinos are increasingly popular and beloved in the Netherlands. In recent years, the industry has flourished even though it was illegal. In 2019, online casinos in the Netherlands generated over 400 million euros in earnings, showcasing the appeal of gambling online. In subsequent years, revenues have continued to climb, with no sign of abating.
Given that online gambling is now considered legal in the Netherlands, industry revenues are anticipated to soar in the coming years. Furthermore, the winter season is fast approaching, and due to the ongoing pandemic, many people could be forced to remain at home. This may become legally obligatory, though this is currently uncertain. Consequently, online casinos and bookmakers can expect a boost in income during the cold winter months. In addition, online establishments are enticing patrons with enticing bonus programs, boosting players' interest in gambling.
Read also:
- The CDU is pushing for additional medical study positions in Homburg.
- German enthusiast creates gigantic Harry Potter figure
- Vibrant, noisy, and piercing - Hamburg rejoices in the Schlagermove.
- New leader dismisses previous Schalke team.
Source: www.onlinecasinosdeutschland.com
