EC Allows Denmark to Open Bingo and Horse Racing Markets

EC Allows Denmark to Open Bingo and Horse Racing Markets

Danske Spil, the group that operates the official lottery in Denmark, had been running the online bingo and horse racing markets in the same country over the years under a monopoly. That dominance is about to end as the European Commission has announced that Denmark will allow private operators to start offering their own bingo and race betting functions. This comes amid a three-month period in which the draft law was analyzed while other laws from other parts of the European Union had expired.

 

About the Draft Act

The new draft act being passed in Denmark will allow the online bingo market to be made available to groups that can get licenses for operating in the state. The effort is being held to get the market to become open to more people while also using strong rules with regards to keeping all games fair. Transparency and regulation are being heavily promoted in the process of making the casino activities work.

 

The move encourages added competition in Denmark. This effort highlights the potential for additional groups to enter into the country to encourage more entities in offering their games.

 

Stopping a Monopoly

The move by the Danish government is being used to keep Danske Spil from being the only group in the country that can offer betting functions. The work was held to make the efforts more attractive and viable to a larger variety of people around Denmark while providing a general sense of competition in the field.

 

Regulation of the market has been ongoing since 2012. While regulations are being used for a variety of fields of betting, poker operators can still work with their own international liquidities. A 20 percent tax on all gross revenues that come from online poker functions and other gaming activities still stands.

 

Allowing For More Bingo

One major move in this effort comes from how the bingo market is to become fully regulated. Danske Spil has been aiming to offer bingo activities over the years but the market has been relatively tough to figure out. This comes as the market had been unregulated for the most part. Additional protections and monitoring are being promoted to ensure that the online bingo industry in Denmark will be protected and transparent regardless of the entities responsible for providing bingo games to the public.

 

Additional Moves

Some added efforts are being made to help with making racing activities a little more liberal. Contributions would be made to help improving upon the horse racing betting industry in Denmark. About 8 percent of bets in such races will be provided to many local authorities while ensuring that horse racing events are properly promoted and funded as desired to make them a little more noticeable and prominent around the country.

 

Additional information on what is to happen in Denmark is slated to be released in the near future. The moves come upon the market being a little more open to a larger variety of entities which want to do business in this country.

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