European Governments Create New Online Gambling Regulations
There has been a change within the online gaming regulations. These changes have come from European governments. The changes have included and led to the following:
* driving deal talks
* the raising of costs
There has been a large amount of new regulations that the global online gambling industry has experienced. This is a wave of regulations that has spread across Europe.
The Market is in the Process of an Update
There have been numerous rumors regarding a gambling-equipment supplier in Canada, a proposed 720 million dollar takeover by a U.K. bookmaker, price disagreements, along with many other speculations. There has indeed been changes within the gaming industry. It ought to be known that this entire market is in the process of being updated. This is an industry that does have challenges that must be viewed and resolved. There are several European governments that are making the regulations. These changes will clear up any legal concerns that surround this industry. This is a process and an up-date that might have long periods of deal-making that may take months to complete and resolve.
The Government in the U.K.
The government has required that operators obtain a license. The online companies may also start being taxed. This is an item that occurred this year in the U.K. It has been claimed that there are many new rules that seem to be a threat to this industry’s smaller markets in Europe. This is an industry that must face higher taxes as well as higher regulatory costs.
Operators Viewing Other Options
There are many operators in this industry that are viewing options within a new industry. This would include looking into the industry of social gaming. They are viewing casino games that will cater to casual players. There would not be a prize except for play money. These options would have a focus and be tailored to tablet computers and smartphones. This is currently an industry that has been known to bring in several billion dollars of revenue.
The Desire for Common Rules
There has been a desire for a common set of rules to be made. There have been several MEPs that have encouraged Michel Barnier, the International Market Commissioner, to find a set of rules that are common and will cross the entire border of online gambling within Europe. This came about because there were a number of individuals who had concerns surrounding minors and the effects that gambling might have on them. This was a debate that had come up in February. The other concerns that had been expressed were the effects of the following items:
* money laundering
There have been numerous firms that are online that have been hoping to break into the overall national market. This is a billion dollar industry.
The European Commission had adopted some recommended principals. This was to ensure that the consumer was protected as well as all players online. The commission had adopted these principals in in July of 2014. It will be determined if there is going to be more legal governing from the European legal framework. There has already been numerous initiatives and studies completed.
New Regulations Pose Opportunity
There are some big competitors who will take the stance and claim that the new regulations are an opportunity. These changes also equal higher costs yet they make the industry very clear in many ways. When a market changes, it allows more room for further developments. These regulations just might prove to provide many opportunities in the long run.
The Betting Market Experiences Growth with New Regulations
There will be other countries adopting new online gambling regulations. This would include the Netherlands. Many countries have been establishing online gambling guidelines. This is leading to growth and opportunity in this online industry.
The Smaller European Competitors Are Threatened by Rules
It is true that the opportunities are grand within the online gambling area. It has also been noted that the new rules are also a threat to this industry’s European competitors. This would be the smaller ones involved. These smaller competitors have spent a large amount on the development and their marketing aspect . The threat is the higher costs that they must endure along with the taxes.
Still in the Talks
There are a large amount of business combinations that are still in the talking phase and business deals have yet to be made. There are some companies around the globe who are making their mark and creating a splash. It is hoped that all legal issues within this industry can be resolved and that the costs of the new regulations will resolve these talks that are in the process.
The Global Online Gambling Industry has Been Roiled
It is safe to make the solid claim that the New European Rules for global online gambling has shaken this industry up. This is a wave that is indeed roiling this industry. The deals are in the works and the talk has started. This billion dollar global online gambling industry is experiencing changes. Many firms have high hopes that this industry will only experience improvements with these European rules that have come about.