Norway Proposes New Gambling Regulations
Preserving the authenticity and integrity of gambling is integral to maintain the spirit of the game. By its very nature gambling is often viewed in harsh lights. Incidents of unauthorized games and malpractices only add fuel to the fire. In order to combat such unethical playing practices, Norway has come up with certain regulations that are currently under review by the European Commission.
The EC has around 3 months to consider the proposal during which the Norwegian government cannot implement the said regulation. If after three months there is no voice of contention, then the regulations can be implemented.
The regulations are primarily focused towards ending unauthorized gambling practices and promote the monopoly system under which gambling operates in the country. The regulations have been framed by a collection of four Norwegian bodies: Labor Party, Christian People’s Party, Socialist Left Party, and the Center Party. They basically aim to monitor and block all transactions that are attributed to unauthorized gambling sources.
A brief overview of the regulations.
There are two main monopolies in Norway that control the gambling sector. Norsk Tipping and Rikstoto are both state-operated bodies and the country has no licensing system to allow foreign parties to function within the country’s economy. The new regulations proposed aim to protect the interests and monopoly of these bodies. Mentioned below are some of the key features of these new regulations.
- Banks and financial institutions have been dictated to withdraw payment and credit card services of Norwegian gamblers towards online gambling forums and unauthorized gambling platforms.
- The banks also need to report the account and personal details of gamblers engaging in unethical gambling. Added to this, the regulations grant the Norwegian Game Authority the power to cancel transactions that are carried out by gambling companies.
- The regulations also impose limitations on gambling advertisements. According to the current rules gambling advertisements can only be played on Norwegian television. Due to the presence of certain loopholes in the existing regulations, foreign companies can run their ads on Norwegian TV. The newly proposed regulations plan to capture such loopholes. It also aims to severely limit the advertisement freedoms of the state-run gambling agencies.
One way or another, these new regulations plan to increase the powers of the government and regulatory boards. By exercising greater control over their operations the government plans to reduce the impact of gambling on vulnerable population.