Europe’s online gambling sector has grown astronomically over the last decade. Contrary to the past when state monopolies controlled the gambling sector, private and public companies now offer online gambling. For this reason, the sector is heavy regulations and each company needs to have a valid license.
Across Europe, there is no uniform legislation to govern online gambling. Each country is at liberty to draft its own rules and regulations. As such 75% of the countries have adopted multi-licensing for different online gambling products. This has been instrumental in creating an attractive online gambling market hence better products for players.
What are Multi-licenses
While some countries will require a single license to encompass all gambling activities, the multi-licensing system has gained popularity. With this, most companies now have to acquire different licenses for each gambling product they offer. For instance, a different license is essential for casino gaming, poker gaming, and sports betting.
The acquisition of multiple licenses is costly for gambling operators. Each license is acquired at a one-off amount and needs renewal. Nonetheless, different licenses for each product amount to better quality and player protection.
How license regulations work in Europe
Although EU law addresses some e-gaming / internet gaming issues, each member state is largely permissible to enact its own gambling rules and regulations. There is no EU-wide structure for gambling, and it is uncertain whether one will ever be established.
In 2017, the European Commission ended its infringement processes and complaint handling in the gaming sector. The Commission does not consider it a necessity to utilize its infringing powers to promote an EU Digital Single Market in the field of online gambling services. In each nation, national courts are now in charge of settling such issues.
However, one stringent law is the Know Your Customer (KYC) mandate. This implies that each and every player must be correctly known prior to playing. Furthermore, the Anti-Money Laundering Directive compels gambling operators to conduct a risk-based evaluation on all players in order to reduce the danger of money laundering and crimes.
Overall, there aren’t many strong restrictions prohibiting people from gambling online. Online gambling rules are often applied to the gambling industry, with consumer safety as the primary purpose.
If you want to start your own online casino or bookmaker, it is critical to speak with an expert lawyer ahead of time to prevent costly fines. Also, you may find more details and updates, on this Italian website.
In some nations, the market is accessible to private enterprises as long as operators meet the licensing requirements. This is true in the United Kingdom, which has a robust gaming business. Other nations, on the other hand, criminalize everything apart from state-owned monopolies.
Here are the three categories to think about:
Open licensing
If the state meets list of licensing requirements, it gets the license. An example of this is Malta.
Restricted licensing
Although there is a limitation on the number of licenses, the process permits gaming enterprises to apply (Belgium, Czech Republic, Greece).
State monopoly
Under this only one (government-owned) enterprise get the license. (Norway, Poland, Slovakia, Sweden, Switzerland).
