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The Netherlands is well-known for its liberal legislation and liberal opinions on a wide range of social concerns. When it comes to gaming policies, on the other hand, this is not the case. In this regard, the county has always maintained a policy that may be considered relatively severe.
There has been a slow but steady push toward changing this in recent years, which is great news for anyone who lives in the Netherlands and wants to gamble. This is especially true when it comes to internet gambling, as the government sees it as a potential source of revenue and one that thrives on the most recent technology advances. Internet gambling is a prominent illustration of this.
A Quick Overview of the Netherlands’ Gambling Industry
Gambling has been practiced in the Netherlands for a very long time. It is thought to have begun in the 14th century, and the government has used a variety of laws and tax rules to maintain strict control over the activity ever since. A regulating agency that regulates all forms of gambling, on the other hand, is a relatively new concept.
The Betting and Gambling Act, passed by Congress in 1964, was a landmark piece of legislation. It was quite strict since it took the position that gaming should be prohibited if it is not licensed. This means that only the government can sanction gambling, which was the case until the late 1990s when laws began to relax.
The regulatory body for gambling
The majority of states and counties that allow gambling have a centralized agency in charge of awarding licenses and overseeing the activity. For a long period, the Netherlands did not adhere to this pattern. This organization was founded in the year 2012. Kansspelautoritet is an entity that is formally part of the Ministry of Justice, and it works to achieve three basic goals.
Organic News on the Internet
It works to combat addiction, which is the goal of all government entities dealing with gaming, protects players, and combats illegal gambling. This is the purpose of all government agencies involved in gambling. Kansspelautoritet uses a variety of policies and institutions to achieve these goals within this framework.
Gambling on the internet
Internet gambling is a relatively new phenomenon around the world, including in the Netherlands. However, due to the country’s long history of gambling and its tech-savvy population, it has quickly expanded in popularity. One of the reasons why internet gambling has become so popular in the country is because of this.
More than one and a half million people in the Netherlands engage in active online gambling, and this figure is steadily increasing. The market was only worth about $500 million five years ago, but it has already grown to be worth almost $3 billion. This includes earnings from foreign gambling sites that particularly target the Dutch market.
The Gambling Hall of Holland
The Dutch gambling industry is mostly based on Holland Casino, which is a prominent component of the market. Since the 1970s, the country has had a casino industry that is wholly overseen and controlled by the state. As a result, it is the most important gambling establishment, and if you’ve ever gambled in the Netherlands, you’ve almost certainly done it at one of their casinos.
The Dutch government receives 100% of Holland Casino’s after-tax profits from the country’s 14 casinos, all of which are operated by Holland Casino. The casino has variations of all of the most popular games, and its site in Amsterdam is both the largest and most well-known at the moment. Slot machines are the most common sort of gambling gadget, with around 42.000 in use at any given time.
Betting on sports
Furthermore, gambling and sports betting are both immensely popular in the Netherlands, and both are managed by the same organization. Because soccer has the biggest average number of viewers, the majority of bets in this country are put on the outcome of matches. The sport that comes in second is field hockey.
In addition, bets can be placed on golf and tennis tournaments, and cycling is a popular pastime in the Netherlands, acting as both a sport and a mode of transportation. Because cycling has such a large fan base, the sports betting business naturally places a high value on the sport.
The Unlawful Gambling Enforcement Act was enacted to combat illegal gambling
The remote gambling statute, enacted in the Netherlands, governs online gambling. This regulation was created when online gambling was already prevalent, as the government attempted to keep up with the rapid technological improvements required for it.
The fact that the law allowed outside investors to invest in the sector was the most significant change that it brought to the industry. This was not possible before 2019 when the regulation was finally passed, but it was rather common because offshore gaming has various loopholes.
The coming period
The changes that will occur in the gambling industry throughout Europe and the rest of the world, in general, are likely to mirror those that will occur in the Netherlands in the coming years. Because there are numerous benefits to adopting bitcoin as a payment method, and because the Dutch market is ready for the transition, the industry will turn its focus toward cryptocurrencies as a means of exchange.
A younger demographic that is just starting in the gambling field is more likely to be interested in online gambling because it is safer and more tempting to them in this day and age. As a result, there is a shift away from land-based casinos and toward online gaming.
To summarize, gambling may be traced back centuries in the Netherlands, where it has a long and storied history. On the other hand, the gaming rules and regulations in place today are quite new, and in comparison to what you may imagine when you think of Dutch legislation, they are quite rigorous.
The Central Gaming Authority was founded in 2012 to protect gamblers and prevent gaming addictions from developing. Given the prevalence of online gambling, the Netherlands has little trouble sanctioning the activity. The rules have recently been amended to allow foreign investors to participate in the gambling industry. Given how frequently cryptocurrencies are used as a method of payment, there is a significant likelihood that the industry will continue to develop in that way.