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Finland is stepping away from monopoly on gambling. Will Norway follow?

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After years of strict monopoly on gambling, the Finnish government has made a decision to open up for licensing. By the year 2026 it expects to have a functioning licensing system that will attract big international gambling sites to operate in Finland, which will in turn bring a significant amount of tax money to the budget and give the users a luxury of choice among various operators. 

Finland has maintained a strict monopoly on gambling since 2017, when three state-owned companies were forced to merge: Veikkaus, Raha-automaattiyhdistys and Fintoto. No other brands were allowed to operate in the country, leaving the users with no options to choose from, and no healthy competition that could have stimulated growth of the market.

When establishing the monopoly on gambling, the Finnish government believed it would contain the money people spend on bets within the country, while providing easy access to the gambling establishments, hence easy control. 

However, that turned out to be wishful thinking, as the reality now is very different. According to Tytti Tuppurainen, a current member of Parliament, the strict rules didn’t stop foreign betting companies from entering the Finnish market. Since it is obviously much harder to regulate online services than physical ones, online bookmakers can provide offers to users from Finland with or without a license. Now it is clear that what initially was supposed to be a well-regulated gambling market with only one state-owned operator to choose from turned into a “wild gray zone”. 

Now, the Finnish government is trying to undo the damage and switch to a license model, which is expected to be released in 2026. The main goal is to redirect the money that is now falling through the cracks (channelization rate is approximately 50% at the moment) and attract big gambling brands to Finland, where they will be able to work legally under the local law. 

Finland has been the last EU country to keep a monopoly on gambling. Now, when they have acknowledged that it failed, Norway might also want to reevaluate the benefits of having a closed market. 

Having a licensing system which allows brands to buy their way in a certain market proved to be a successful model in many countries. The regulation process becomes easier, when there are rules that official companies have to follow if they want to stay in the market, as opposed to authorities chasing online bookmakers and trying to block access to constantly reappearing pages. 

In Norway, the attempts to block illegal operators are countless. From DNS blocking to internet companies forbidding access to certain betting websites. However, new illegal gambling sites appear faster than anyone can block them. The users in turn are actively searching for new bookmakers instead of giving in to the official ones, making Norway a lucrative market for betting providers who are not afraid to get their hands dirty. 

Not earlier than when a functioning licensing system is established in both countries will there be real user protection from untrustworthy gambling providers.

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Win tickets to the BLAST Premier Fall Final: GG.BET is running a MEGA BLAST Competition for fans of ĐĄS2

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From 26 July, all GG.BET users can get involved in the new MEGA BLAST Competition with a €10,000 prize fund. The winner will receive two tickets to the BLAST Premier Fall Final CS2 tournament, taking place from 27-29 September in Copenhagen. To enter, you need to place bets on Counter-Strike 2 matches.

BLAST Premier Fall is a major series of Counter-Strike 2 tournaments which draws in millions of viewers from all over the world every year. The series consists of three stages: Groups, Showdown, and Finals. The Groups stage sees 16 Tier-1 teams duke it out. Only 6 of these can go on to compete in the final, while the rest will battle it out in the Fall Showdown for two additional spots in the final. BLAST Premier Fall Finals will be the concluding stage of the Fall series, and fans can look forward to electrifying action, heart-stopping twists and turns, and an epic $425,000 prize fund.

From 26 July to 4 August, as the Groups stage rages on, GG.BET will be holding its MEGA BLAST Competition. The winner will get their hands on two tickets to attend every day of the BLAST Premier Fall Finals. As well as these tickets, the bookmaker is also giving away a whopping €10,000 prize fund to the top 40 participants in the MEGA BLAST Competition.

How to take part in the MEGA BLAST Competition:

  1. Register an account with GG.BET or log in to an existing account.
  2. Go to the tournament page and press “Participate”.
  3. Place bets on Counter-Strike 2 matches. Every bet you place will earn you a certain number of points, based on the odds.
  4. Rack up points, keep an eye on the leaderboard, and wait for your winnings to roll in.

Bet on your favorites and get ready for some unforgettable fun! Head over to GG.BET right now so you don’t miss your chance to enjoy a festival of Counter-Strike action in Copenhagen.

 

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MANCHESTER CITY TO MARK GLOBAL PARTNERSHIP WITH SUPER GROUP-OWNED BETWAY AT THE NEW YORK STOCK EXCHANGE

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Manchester City has today announced a new multi-year partnership with leading global online betting and gaming brand, Betway.

As part of the club’s pre-season tour of the United States, and to mark this significant deal, leading figures from Manchester City and Super Group will be on-site for the iconic NYSE bell-ringing ceremony later today. Ferran Soriano, CEO of City Football Group, along with Neal Menashe, Super Group CEO, will ring The Opening Bell at 9:30am EDT.

The agreement will see Betway become the club’s Official Global Betting Partner from the start of the 2024/25 season, as Manchester City joins the brand’s extensive sports sponsorship portfolio which includes teams from across the Premier League, La Liga, NBA and more.

Ferran Soriano, City Football Group CEO, said: “We are pleased to announce Betway as our Official Global Betting Partner today. As a globally recognised brand, Betway has a strong pedigree and history of working with high-profile brands within the sports space and we’re excited to work together throughout the partnership.”

Super Group CEO, Neal Menashe, commented: “We are absolutely delighted to become Manchester City’s Official Global Betting Partner. This agreement cements our place in the top tier of Premier League partners, ensuring that our Betway brand reaches fans in all corners of the globe.”

Throughout the duration of the partnership, Manchester City and Betway will collaborate on a number of activations and exclusive content opportunities, in addition to the brand featuring across digital and in-stadia assets.

Manchester City and Betway will also work together to provide all players, coaches, management and staff in-depth, industry leading training on all relevant codes of conduct relating to betting integrity and responsible gambling. This is in addition to the work Manchester City already does to support players and staff in this area.

The Opening Bell ceremony can be viewed live.

 

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Compliance Updates

Acquiring a Curacao Online Gaming License in 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed

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The “Acquiring a Curacao Online Gaming License, 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed” report has been added to ResearchAndMarkets.com’s offering.

This report includes valuable insights into the financial and procedural aspects, including detailed information on costs and timelines associated with acquiring a Curacao license.

In 2023, Curacao introduced the “Landsverordening op de kansspelen” (Ordinance on Games of Chance) to modernize and regulate gambling legislation. Since March 2020, the Gambling Control Board (GCB) has been authorized to regulate offshore gambling games and oversee the issuance of Curacao licenses. As of 2023, there are 16 companies providing legal services for registration and licensing in the territory of Curacao. The license fee, as per GCB regulations, is 36,000 ANG or 19,800 USD, payable upon license issuance.

Research Timeline and Data Relevance

The research was conducted in two stages. The first stage, studying the regulator and Open Data Search, took place in December 2023. The second stage, writing the report and partially updating the data from the first stage, took place from the end of April to the end of May 2024.

Goals and Objectives

  • Describe the information about the Curacao license and the issuing regulator.
  • Describe the requirements and conditions for obtaining a Curacao license.
  • Describe the costs and timelines for obtaining a Curacao license.
  • Briefly study the market, find and suggest the following lists:
    • Legal companies offering services for company registration and obtaining a Curacao license;
    • Communication agents and integrators working with the Curacao license;
    • Suppliers and vendors working with the Curacao license;
    • Payment systems working with the Curacao license.

Key Topics Covered:

1. Goals and Objectives

2. Research Timeline and Data Relevance

  • Document Markup
  • Raw and Combined Data
  • Terms & Glossary

3. General Information

  • The Regulator
    • Registration of Operators With Sublicense
    • Application for an Online Gaming License

4. Requirements and Conditions for Obtaining a License

License Conditions

  • General Prohibitions
  • Safe and Secure Environment
  • Equipment and Application Software
  • Player Registration
  • Payment Transactions
  • Games
  • Terms of Use
  • Resolution of Complaints
  • Administrative Responsibilities
  • Publicly Available Information
  • Reports
  • Policies and Procedures
  • Suspension and Revocation of License
  • Additional Conditions
  • Supervision

Recommendations or Minimum Requirements for the Business Plan

5. The Cost of the License

6. Decision Term and the Validity of the License

7. Application Method and Forms

8. Contact Information

9. Companies for Registration and Licensing

10. Integration Companies

11. Suppliers and Vendors

12. Payment Systems

13. META

14. Appendix: Terms & Glossary

For more information about this report visit researchandmarkets.com/r/izeo6g

 

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