The Netherlands can become one of the largest online gambling markets in Europe
The Dutch government has already spent years crafting the long-awaited Remote Gaming Act. Everything is ready to allow online casinos to provide their services in the country in a legal manner. The ball was set for this movement in 2012, when the gaming authority called Kansspelautoriteit (KSA) was created to revise the gambling laws that had existed since 1964.
Now the interesting fact is that the online gambling market in the Netherlands has already shown significant growth and looks set to explode. The Remote Gambling Act is all it needs to become the largest online gambling market in Europe.
But what are the different facets of this law and how will it help the online gambling scene in the Netherlands? Let’s find out!
Crucial regulations under the Dutch Remote Gaming Act
The Netherlands has historically taken a stricter approach towards the gambling industry. Although the Remote Gaming Act allows private operators to enter the market for the very first time and allows new types of gambling, the details of the regulations underline the unique approach taken by the Dutch in placing greater emphasis on player protection.
- Casinos (online and land-based) and other such providers must use a central registry (CRUKS) to allow all players to automatically register with the social security number they have. Additionally, players will be able to self-exclude themselves from any licensed website. Once the player is excluded, he will no longer access the site and the operator will no longer target him with marketing actions. Lotteries are exempt from CRUKS.
- Mandatory age verification using IDIN.
- Stricter regulations on promotion and marketing methods
Compulsory participation in CBD (controledatabank), which is the KSA’s control database. The database records all online casino activity and provides the KSA with direct access to keep control over the casinos.
How will this law affect and change the Dutch gambling scene?
After the law comes into force, providers are allowed to apply for their Dutch remote gambling license. So, by this year, players should be able to take advantage of the latest casino offers. He will open the gambling market in the Netherlands two major possibilities:
- New companies will start entering the market
- Existing companies will be able to significantly expand their offer
Currently, a few legal online gambling sites are gearing up to enter the Dutch market and make the most of the new opportunities.
Operators who take advantage of the dynamic
In June 2019, it was already reported that eighty providers had officially declared their interest in obtaining the online gambling license for the Netherlands. These vendors included some of the most well-known names. We strongly recommend that you learn more about real money casinos or, how they are called by locals, online casino echt geld.
In fact, many smaller gambling brands in the country have also announced their intention to provide online gambling services in the Netherlands.
The size of the gambling market in the Netherlands
In 2018, which is the last year for which full statistics are found, the gambling market contributed approximately 1.4 billion euros to the country’s GDP, which marked a growth of 9% compared to 2015. It is estimated that in 2015, around 9% of the total income came from illegal online gambling avenues. These avenues will be available through legal channels soon enough.
According to market plans after the entry into force of the new regulations, potential legal operators can have a turnover of at least 185 million euros. But it is important to remember that the number depends on the income that comes from tax revenue. Hopefully, all players who enter the legal arena are willing to pay gambling tax. It will still take some time before the market size is estimated.
Comparison of the Dutch market with other European countries
Although Dutch players have had to rely on illegal means or make peace with state-controlled limited offers, the market has grown from less than 500,000 players in 2015 to 1.2 million in 2020. In addition, gross gaming revenue increased significantly during this period and increased from 296 million euros to 3.1 billion euros.
When you think about gross gaming revenue, only Italy, Germany, France and Spain can surpass the position of the Netherlands. Dutch players spend far more than their German neighbors and remain on par with their French counterparts. As the Remote Gambling Act kicks in, Dutch players are sure to be playing even more as their options and available offers will both increase.
The end note
The new law will open up the market and increase Dutch online gambling revenues. Players can also enjoy their games with peace of mind knowing that their interests are being looked after by the government. All in all, nothing is stopping the Netherlands from becoming one of the biggest online gambling markets in Europe.