Click Now!

Danish Government to Open Online Bingo and Horseracing to Foreign Operators

Danish Government to Open Online Bingo and Horseracing to Foreign Operators

If you live in Denmark there is good news as the European Commission (EC) has permitted the Danish government to open up its online bingo and horseracing wagering markets and therefore bring to an end the monopoly position of state-owned gambling operator Danske Spil.

The Danish government is eager to liberalise its bingo and horseracing markets in accordance with the EU’s business laws. The government previously asked the EC for a review of its draft laws in preparation for the opening of bingo and horseracing to licensed European betting operators.

Back in 2012, Denmark passed its gambling regulatory framework that allowed for licensed casino, poker and sports betting operators to compete in its new markets.

With a 20% tax on gross gaming revenues for online gambling services, international operators consider Denmark a viable market. Now the government is expanding to open all of its gambling sectors, including online bingo and horseracing to its licensing portfolio.

The Danish government said that online bingo would be better served by regulated enterprises that could tap into a market demand that is double the size of that offered by Danske Spil.

The government also said that it wants to reverse the decline in attendance and turnover of horseracing. Under the current system it deemed that maintaining the sport was no longer a viable option.

Following the announcement the CEO of the trade body the Danish Online Gaming Association, Morten Ronde, said, “We are happy that the monopoly on online bingo and betting on horse races is finally broken. This is something we have been arguing for since 2012. We feel that the new rules will bring further innovation and growth to the industry.”

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

COMMENTS

comments