Thursday, June 20, 2024

Polaris of Enlightenment

Thursday, June 20, 2024

Polaris of Enlightenment

The casino market in the Nordic countries

Published 21 May 2024

The Nordic countries differ significantly in terms of online casino regulations. In Sweden and Denmark, national authorities control the gambling operators, while Iceland has blocked all forms of gambling. The same applies to Norway, whose government tries to block Norwegian players from playing at online casinos. We will take a closer look at how the regulations differ in the various Nordic countries.

Sweden – How the Largest Nordic Country Operates

In Sweden, online casinos and betting have been appreciated for many years. Previously, Swedish players turned to foreign casinos, but since January 1, 2019, a national license similar to that in the United Kingdom has been in place.

Swedish players today are spoiled with extremely fast withdrawals thanks to BankID and fast payment services. Swedish casinos have the fastest payouts out of all the Nordic ones because the casinos offer Swish, a mobile payment method with instant withdrawals.

Since the introduction of the Swedish license, several improvements have been made for Swedish players, but there have also been more restrictions. For example, only one bonus per player and license is allowed.

Denmark Was the First with a National Gambling License

Sweden’s neighboring country, Denmark, was the first to implement a national gambling license as early as 2010. However, significant changes were made in 2019 that are still in use today. Denmark has a population of approximately 5.7 million, and the Danish government works hard to block unlicensed gambling operators.

Internet service providers are required to block casinos that do not have a Danish license. Danish casinos face a 28% tax rate higher than Sweden’s 18%. Danish players cannot deposit more than 10,000 DKK into their gambling accounts.

Norway Actively Works Against Online Casinos

In Norway, there is active work to combat gambling operators that do not have a Norwegian license. Only Norsk Tipping has the right to offer gambling, and to stop foreign casinos, the Norwegian state has blocked several payment methods.

Norwegian players also have to pay taxes on gambling winnings. It is impossible for Norwegian players who play with operators other than Norsk Tipping to get tax-free winnings.

Finland Allows Most Forms of Gambling

In Finland, both online and land-based casinos are legal. Finnish players can choose to play at Finnish casinos or with international operators. Many choose the Finnish options because the money goes back to the Finnish people. However, it is also possible to play with casinos licensed in Malta or Curacao.

Iceland is the Strongest Opponent of Online Casinos

No Nordic nation works as actively against online casinos and gambling as Iceland. The small island nation implemented a law in 1926 that banned all forms of gambling. The regulations have been partially modified, but all forms of gambling are still illegal, and there is currently no indication that this will change.

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