Latest News
Norway set to reform gambling laws
The gambling industry is rapidly growing and taking over everything. With the development of the Internet and people’s engagement in social networks, online casinos have risen in number greatly. It has even evolved during the 2020 coronavirus pandemic.
Different forms of gambling in general require different management systems and many countries introduce regulations to somehow control various gambling channels. Deregulation sometimes leads to illegal gambling, therefore countries think it is better to introduce some laws, in order to control everything.
Norway is also on a path to join a list of countries where the regulatory framework of gambling is in work. According to the country’s main regulator called Lotteritilsynet regulations will bring more consistency to gambling in the country.
If we take a look at the current situation in Norway, the Scandinavian country has three legislative guides: the Lottery Act, the Gambling Act, and the Totalisator Act. This year the state also proposed changes regarding gambling regulations.
In Norway step by step, the newest casinos appear almost every month, which are known among local citizens as nyeste casinoer, and they have a lot of customers. However, the lack of regulations is sometimes a very big problem. Because of that Lotteritilsynet which we have mentioned above, wants to offer more consistent oversight of the gambling sector. You can find out more information about this topic by following this link.
At the same time, the country’s main regulator thinks that by introducing new reforms gambling will be available through legal channels and this will provide better control of the gambling industry.
Regulations also offer player protection and we are all familiar with the concept of responsible gambling. The safety of players is essential. Also, the industry will become freer.
We should note that the changes are already on the agenda of the European Commission, but are temporarily halted. However, the moratorium is expected to end on November 13.
Feature of the gambling legislation in Norway
The age limit for gambling is 18 years old. For those under this age, only scratch cards are allowed. Interestingly, citizens are allowed to host gambling parties at home – as long as it doesn’t turn into a business.
The government is systematically trying to drive foreign companies out of the Norwegian market. In June 2010, the authorities approved a law according to which all Norwegian banks are not allowed to service credit and debit cards used in land-based and online casinos around the world.
In 2004, slot machines accounted for 64% of revenue “on the ground” and 43% of revenue online. This growth was due to the fact that slots were poorly regulated by law. The Lottery Act gave only charitable organizations the right to gamble. But, at the same time, it did not forbid private companies to cooperate with these organizations, place slot machines and share the proceeds.
Since 2002, the Norwegian authorities have started to take action. They began to limit the number of slot machines, as the number of gambling problems, such as gambling addiction, increased with the growth of the industry. The Norwegian government banned slot machines entirely in 2007. In 2009, interactive video terminals appeared – a new form of slots. To play them, you need a special card.
Conclusion
Until these discussions, there was no visible improvement in the situation with the gambling business in Norway. Here they are very strict about gambling, preferring to keep them under the strictest control. Yes, the gambling business brings a lot of money, but for Norway, this is not an argument.
Recently, the Norwegian government has been focusing on the problem of gambling addiction. And it is more likely to give results.
New laws could have a completely different effect than expected. In 2007, analysts from the Norwegian Gaming Board showed that out of 3,000 players surveyed, only 1.3% consider themselves to be gambling addicts. The same study, conducted in 2010, after the introduction of new laws, showed that the number of addicts increased to 2.1%.
The Norwegian government should think more seriously about how it regulates the gambling business in their country. It may be worth allowing online gambling and providing equal opportunities for domestic and foreign companies. In any case, the Norwegian gambling business is performing well, which gives cause for optimism.
Industry News
MiFinity to Showcase Innovative iFrame at SiGMA 2024
MiFinity, a leading global payment services provider, is excited to announce its participation at SiGMA 2024, held in Malta from 12 to 14 November. Visitors can find MiFinity at Stand 2012, where the team will be showcasing its award winning PayAnyBank service, and the latest version of the MiFinity iFrame and demonstrating how it helps iGaming operators acquire and retain players with a seamless, flexible payment experience.
Paul Kavanagh, CEO of MiFinity, commented: “SiGMA is a fantastic opportunity for us to showcase our latest developments and engage directly with the iGaming community. The MiFinity iFrame is a game-changer for operators looking to streamline their payment processes and enhance the player experience. We look forward to demonstrating its capabilities and connecting with both existing and prospective partners.”
MiFinity’s Business Development and Account Management teams will be on-site to discuss the new iFrame features in-depth and highlight how MiFinity can optimise payments for iGaming operators. They will also be showcasing MiFinity’s innovative suite of payment solutions developed specifically for the iGaming sector, including MiFinity PayAnyBank — a powerful tool that enables operators to send payouts directly to players’ bank accounts in multiple countries and currencies, enhancing the user experience with faster, more localised transactions and reduced FX fees.
The MiFinity Affiliates team will also be available to explain the benefits of MiFinity’s affiliate program, which offers some of the highest commissions in the industry and unique promotional opportunities via the MiFinity Bonus website.
Meet the MiFinity team at Stand 2012 at SiGMA 2024 to learn more about the company’s solutions and how they are transforming the iGaming payment landscape. Pre-book a meeting with the MiFinity team or drop by the stand during the event to explore how MiFinity can support your business.
Book a meeting here > outlook.office365.com/book/[email protected]/
Latest News
ECA and AGEM applaud creation of Association Assembly at ICE Barcelona
The news that January’s ICE Barcelona will include a major new feature dedicated to global gaming’s most influential trade associations has been welcomed by organisations in Europe and abroad.
Making full use of the additional space at the Gran Via Fira de Barcelona, the first ICE Association Assembly has been created to enable trade bodies to promote their values and create new opportunities for the gaming community across every sector and geography, including both the Brussels-based European Casino Association (ECA) and the Association of Gaming Equipment Manufacturers (AGEM), the global trade association for gaming equipment suppliers with its primary headquarters in Las Vegas.
Erwin Van Lambaart, Chair of the ECA confirmed: “Our members are already planning their week in Barcelona and they will be at this historic edition of ICE in great numbers. ICE is a pivotal event for the global gaming community and having a show floor feature which will enable us to engage directly with all sectors is a unique opportunity.
“Traditionally, our association’s involvement at ICE and its Conference program has primarily centred around networking and product development orientation—connecting with our members, regulators, suppliers, and fellow trade bodies. However, ICE 2025 marks a significant milestone. For the first time, the ECA will have the chance to fully interface with the global industry supply chain in its entirety. We are looking forward to this unique opportunity to articulate our vision for the future to a diverse and comprehensive audience, where innovation, responsibility and significant partnerships for guest and customer centricity will have centre stage.”
Daron Dorsey, CEO of AGEM added: “We represent the interests of our gaming suppliers whose well-known brands are global in reach, so to be given the opportunity to explain our agenda and engage with what is a truly international audience of association colleagues on the ICE show floor is invaluable.”
January’s editions of ICE and iGB Affiliate will occupy 120,000sqm of space compared to the 100,00sqm at ICE 2024. In a major endorsement of the opportunities offered by the relocation to Barcelona 72% of the 25 biggest exhibitors will have an increased stand presence at ICE 2025.
Industry Awards
Blask Wins Prestigious “Startup of the Year” at 2024 Starlet Awards
Blask, the pioneering AI-powered analytics ecosystem for iGaming, has been named “Startup of the Year” at the prestigious 2024 Starlet Awards. The company earned this recognition for developing a groundbreaking market intelligence platform that has redefined how gaming operators leverage data and market insights.
Award Recognition
The award confirms Blask’s revolutionary approach to market analytics and its significant impact on how iGaming companies access and utilise market intelligence. Powered by AI models including Computer Vision and Natural Language Processing, Blask analyses billions of data points across 2000+ active brands to provide unprecedented market insights.
The Starlet Awards recognition follows Blask’s recent SiGMA Asia Startup Pitch 2024 Award victory. “Winning these awards affirms our belief that innovation and bold ideas can reshape the iGaming landscape. The recognition underscores the impact of our cutting-edge AI technology and our relentless pursuit to transform data into actionable insights”, reflects Max Tesla, CEO and Co-founder of Blask
Blask provides operators with a strategic edge across multiple critical areas. Its real-time market analysis capabilities deliver instant access to crucial market metrics, while the high-granularity data available at one-hour intervals enables swift, informed decision-making. The sophisticated AI modelling system estimates GGR and FTD by analysing a comprehensive range of inputs, including historical data, third-party OSINT data, market performance, competitor metrics, historical brand performance, market reports, and public company disclosures.
Beyond analytics, Blask offers robust brand monitoring and competitor analysis tools, alongside strategic and tactical planning capabilities particularly valuable for market entry decisions and maximising performance during major events. The recently introduced customer profile feature harnesses AI to generate detailed, country-specific user profiles, adding another layer of strategic insight for operators.
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