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Opening Norwegian Gambling Market To Overseas Companies Can Be Catastrophic: Report

Opening Norwegian Gambling Market To Overseas Companies Can Be Catastrophic: Report
Opening Norwegian Gambling Market To Overseas Companies Can Be Catastrophic: Report

A new study warns the opening of the Norwegian gambling market to overseas companies can have some serious negative implications.

The report finds that allowing the offshore gambling operators in the local market and ending gambling monopoly would dramatically increase the number of people having compulsive gambling issues.

The report by Olso Economics prepared on behalf of the Norwegian Sports Federation and ExtraStiftelsen Health and Rehabilitation, a body responsible for managing a percentage of state-owned operator Norsk Tipping’s profits, also warns that with the liberalization of the country’s gambling market would lead to a decline in social contribution from regulated gambling. It estimates that the decline could exceed NOK1.3bn (£118.7m/€129.9m/$144.0m) by 2023.

At present, twp gambling operators are authorized to offer gambling-related products and services to the locals. While Norsk Tipping can offer draw-based and casino games, Norsk Rikstoto offers totalisator games.

The two companies together contributed NOK5.5bn towards social programs in 2018.

Refuting the claims of the declining market share of the state-owned gambling entities, the Oslo Economics report said: “As we see it, the opposite is more likely to be the case. The government’s efforts to make money transfers between the unregulated operators and Norwegians appear to be becoming increasingly effective and the government is now considering measures that can block players’ opportunities for TV advertising through foreign TV channels.”

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Harry Matthew

Harry Matthew

Harry serves as a resident reporter for Casino Buzz. He has been responsible for building the content base and forms the core reporting strategies for the website. Along with reporting, Harry is an amazing baseball player with good record at university level. He can be reached at hm@casino.buzz

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