Norway On Track for Regulated Online Gambling

Norwegian Culture Minister Thorhild Widvey is seeking to liberalize Norway’s online gambling laws.
Norway’s aspiration to legalize online gambling has moved one step closer: the country’s community Committee has required an impact assessment on dramatic legislation proposals that may completely open the market up. The committee will closely examine the experiences of other nations, such as for instance Sweden, Denmark together with UK, before drafting its own legislation that the federal government hopes to implement the following year.
Norway presently has some of the gambling controls that are tightest in Europe. Online gambling is basically unlawful in the nation, with just two state-owned companies permitted to supply restricted games of opportunity to its residents, Norsk Tipping and Norsk Rikstoto. Norsk Tipping offers games like lotteries, keno plus some sports betting, and falls under the jurisdiction associated with Ministry of society and Church affairs, which ensures that players are merely allowed to place bets at certain times of the day and imposes restrictions in the amount players are allowed to bet. Norsk Riksoto, meanwhile, provides parimutuel betting exclusively for horseracing.
Nothing to Bank On
In 2010, the government passed a law that banned Norwegian banks from processing all kinds of gambling transactions, online and live, not just within Norway, but all over the entire world, basically barring Norwegi (meer…)