Dutch Online Gambling Market Has Massive Potential
February 16, 2021
The online gambling industry is quickly growing and expanding as more regulated markets find their feet.
The Netherlands is among the latest planning the launch of a regulated online gambling market later this year.
Despite being slow to launch, there are clear indicators that the Dutch online gambling market will quickly become one of Europe’s largest regions.
New Gambling Legislation for 2021
The Netherlands has been slow to progress in terms of implementing new regulations for the online gambling market.
In the past few years, officials have started working on the new regulatory framework which will allow for foreign operators to apply for licensing within the region for the very first time. There has been a range of setbacks resulting in a pushback of the launch of the online gambling market.
The latest being to get all operators and industry professionals 100% ready for a slow and effective launch.
The new Remote Games of Chance Decree will entail details rules and regulatory requirements regarding the licensing system for all remote games. It also sets new rules for advertising, recruitment, and the prevention of addiction.
It takes into account all there is to consider, especially when it comes to player safety. There are requirements in place that practically determine how operators are expected to run especially when it comes to licensing, the prevention of money laundering, match-fixing and other crimes. As well as registration procedures and storing data safely.
The secondary legislation forms part of the Remote Gaming Act and will come into effect on the 1st of April 2021. From there, the 6-month waiting period begins, with online gaming set to officially launch on the 1st of October 2021.
According to new regulatory requirements, all online and country-specific providers are expected to connect to the Central Register of Exclusion of Betting Games (CRUKS). This is part of the new regulatory requirements and a system set in place to enhance digital safety in the virtual gambling space.
An Instant Growth Spike
According to a white paper released by Online Casino Ground, there is a belief that the Dutch online gambling market will become one of the biggest within Europe.
The main reason being due to players finally being able to enjoy more variety in legal gambling options locally. One of the biggest setbacks for the region to date has been the current restrictions on online gambling options such as sports betting.
The ban on sports betting alone has resulted in almost 50% of sports bettors seeking entertainment from unlicensed sites.
More research has revealed that about 32% of players enjoy Roulette and 31% prefer Blackjack, 25% partake in slot gameplay, and 12% prefer a mix of bingo, online poker, and baccarat. When going deeper into the numbers, it has also been revealed that the number of online casino players has grown from a mere 500,000 in 2015 to more than 1.2 million in 2019!
The new laws introduced will expand the betting options and legal game variety which means Dutch players will more than likely start moving towards licensed operators. In return, this will result in a speedy market growth considering the mass number of players currently active within the region.