The gambling industry is growing so rapidly in Europe, both in the offline and online segments. However, not all countries give the green light to running the gambling business.
In some states, casino games are considered illegal; in others, gaming clubs are strictly controlled by special regulators. If you want to gamble without any risks, then you need to know everything about the jurisdiction and regulatory body issuing a license. In this post, we will talk about the regulation of the gambling business in Europe.
Online Gambling in Europe — Facts You Need to Know
It is estimated that by 2020, the total GGR of online gambling in Europe has reached around €25 billion. And this number mainly refers to bets on sporting events, online casinos, and online lotteries. Poker revenue was only 6%, which is still a lot considering the financial scale of the business. By the way, if you want to spin the reels of your favourite slot machine online or make a bet at the playing table, then winmeisters.co has plenty of entertainment options.
Countries Giving the Green Light to Gambling
Each state has its own rules governing the gambling industry and approaches local and foreign operators in different ways. Thus, for example, the below-listed countries legally permit online gambling activity:
By the way, gambling regulators in countries such as Cyprus, Bosnia and Herzegovina, the Czech Republic, Iceland, Luxembourg, Serbia, and Slovakia do not apply any legal requirements to foreign playgrounds.
How to Get a License for Gambling in Europe
Every jurisdiction has its own requirements for issuing gambling licenses. Some of them are strict, while others may seem to be moderate when regulating industry participants.
- Latvia — In Latvia, the activities of gambling clubs are controlled by the Inspectorate for Supervision of Lotteries and Gambling. The regulatory body issues a license and “considers” candidates to manage the legal side of the institution. There are several main types of licenses in Latvia. The cost of the license depends on the type of games offered and the site.
- Malta — The licensee is granted by the LGA (Lotteries & Gaming Authority). In addition to issuing a license, the organization carefully monitors the company’s compliance with the rules of doing business. The procedure itself is quite simple as local authorities have created comfortable conditions for the development of the gambling industry in the country.
- Estonia — In Estonia, both a land-based gambling establishment and an online casino can be registered with no problems. The casino business is regulated by the Estonian Tax and Customs Board.
- United Kingdom — The gambling industry in the UK is developing very dynamically. All establishments function well in the country if the two have the documents issued by the UK Gambling Commission (UKGC). In addition to issuing official licenses, the regulator monitors compliance with the rules and regulations of all organizations and in case of any violations applies penalties.
Without a license, a casino cannot legally run the business and serve customers. So if you do not want to risk your money and want to stay on the safe side, then register in licensed casinos only.