The European Gaming and Betting Association today issued a statement in response to recent media reports that Norway has blocked payments to and from bank accounts discovered to be used for processing gambling reactions
The association, which represents a number of online gambling companies servicing gaming and betting customers across Europe, once again slammed Norway’s current online gambling regulatory regime calling it unsustainable and pointing out that the latest news came as evidence of that.
The Times of Malta reported over the weekend that the Norwegian Gaming Authority (Lotteri- og stiftelsestilsynet) has penned warning letters to six Malta-licensed online gambling companies and has ordered that Norwegian banks block transactions to and from accounts used by the companies for gambling-related purposes.
The move came as part of Norway’s ongoing efforts to purge the local online gaming space from unregulated operations. The state-run Norsk Tippin and Norsk Rikstoto are the only entities currently authorized to provide gambling services in the Scandinavian nation. Lawmakers have long refused to replace the current monopoly system with a more liberal one that allows international companies to obtain licenses from the local regulator and operate in a regulated environment.
Norway’s neighbor, Sweden, liberalized its gambling market on January 1, 2019, opening it to international operations. However, Norwegian authorities seem to remain firm on their stance that the monopoly system provides the best consumer protection tools.
EGBA Calls For “Well-Regulated and Controlled Environment”
In today’s statement, EGBA said that instead of blocking payments to prevent Norwegian gamblers from “making informed and free choices”, the country’s authorities should move to develop a regulatory framework “which is fit for the realities of the borderless, digital age.”
It is important to note that some of the companies affected by the Norwegian Gaming Authority’s recent actions are EGBA members.
The association’s statement reads further that in an age when gambling customers expect variety the monopoly system allowing just two state-run companies to provide gambling services is not sustainable. EGBA also noted that gamblers can easily access unregulated websites and the country is thus losing tax revenues, while putting its task to keep control of the local market in serious jeopardy.
EGBA said it supports the establishment of a “well-regulated and controlled environment” that will keep players safe, and the best way for Norway to create such an environment is by introducing a multi-licensing system. According to the association, the economic and social reality will prompt Norway to confront the re-organization of its market at some point.
EGBA’s full statement can be read here.
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