iGaming Industry
Norway’s Gambling Monopoly System Safest for Players, Norwegian Gaming Authority Head Says
Norway decided to retain the long-standing gambling monopoly model as it considered it was the one that would provide the safest environment for local players, Atle Hamar, Director General of the Norwegian Gaming Authority (Lotteri- og stiftelsestilsynet) said during the International Association of Gaming Regulators (IAGR) conference in Johannesburg, South Africa.
The important event was opened on October 16, gathering together representatives of the gambling regulators of a number of regulated jurisdictions to discuss the current state and the future of the global gambling industry.
The Norwegian Gaming Authority’s head further said during this year’s edition of the IAGR’s annual conference that they are committed to protecting Norway’s regulated market against gray market operations.
It is important to note that gambling services in the Scandinavian country are currently provided by two state-run entities – Norsk Rikstoto, which is responsible for the nation’s horse racing industry, and Norsk Tipping, which runs different other non-horse racing gambling operations.
While international operators are not licensed and authorized to operate in the country, the local market, just as other Scandinavian markets, has long been particularly luring to a number of online gaming and betting brands.
The potential regulation of international remote gambling operations was previously discussed by Norwegian lawmakers, but it became known late last year that the country would keep its monopoly system.
Norway’s Decision to Keep the Status Quo
Last December, Norway’s Minister of Culture presented a white paper on the state of the country’s gambling industry. According to the report’s findings, there was no need for re-regulation of the local market and that the existing monopoly system had proved to be the most efficient one and that it should be maintained.
Norway is not the only Scandinavian country where regulated gambling services are provided by state-run organizations. Sweden and Finland have been maintaining a similar model for quite some time now. Denmark, on the other hand, regulated its market in 2012 in a manner that opened it for interested international operators. Facing growing pressure from the European Union, Sweden and Finland have also considered scrapping the monopoly model, but it is yet to be seen whether they will eventually part with the long-standing status quo.
Earlier this year, Swedish officials released the results from a probe into the country’s gambling industry. The report recommended the introduction of a licensing system that would allow international operators to operate in a regulated environment. It is believed that Sweden will prepare and enact the necessary legislation by early 2019. Sweden’s gray market has been growing exponentially in recent years and it is believed that it was that trend that triggered the eventual implementation of a new regulatory framework.
Unlike its Scandinavian neighbors, Norway is not part of the European Union, which means that lawmakers will not be facing outside pressure to nix the monopoly system and that it is only up to them to decide when and if it should be nixed.…
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Source: EEGaming.
BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.
As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.
Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.
BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.
Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.
“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.
Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.
Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.
SoftGamings, the market leader in iGaming solutions and services, announced the arrival of the Tobique Gaming License on the market. The move reflects the company’s commitment to enhancing regulatory compliance and expanding its footprint in the competitive iGaming industry.
Tobique Gaming, managed by the Tobique First Nation in western New Brunswick, Canada, oversees the issuance of online gambling licenses through the Tobique Gaming Commission (TGC) — a regulatory body established under the Tobique Gaming Act of 2023. This initiative is known for its stringent standards and emphasis on responsible gaming. Furthermore, it promotes economic development within the Tobique First Nation community.
The Tobique Gaming license provides operators an entry point into the online gaming and gambling industries. With it, businesses and iGaming operators can conduct operations in various global regions and offer multiple services, from betting to casino games and lottery promotions. The best of all is the streamlined application process, which lasts only 4 to 6 weeks.
SoftGamings is fully prepared to support clients and those interested in obtaining this license. Leveraging its innovative technology and diverse game portfolio, SoftGamings is ready to support clients in navigating the application process and leveraging the benefits of the Tobique Gaming License. The company’s comprehensive services include game development, casino management systems, and payment integrations, making SoftGamings a preferred partner for numerous operators and developers worldwide.
Consequently, helping the clients obtain the Tobique Gaming license and being an entry point represents a significant milestone in SoftGamings’ ongoing efforts to refine its service offerings, maintain the highest standards of gaming integrity, and bolster its regulatory standing. As the company moves forward with this licensing process, it anticipates a positive impact on its operations and continued success in delivering exceptional gaming solutions to its global clientele.
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