Norway Curtails Offshore Online Gambling Operations

Published Wednesday, April 25, 2018 - Online-Casinos.com
Norway Curtails Offshore Online Gambling Operations

The delicate balance between governments and the online gambling industry has long been a concern as the changing views of politicians and critics upsets the operators projected bottom line. There are many jurisdictions where the discussion related to investments in the gambling industry has become a bone of contention.

Norway is currently going through a time when its parliament’s opposition is Norway’s calling for the nation’s oil-based pension fund to divest its significant holdings in gaming companies. The government’s Norsk Tipping is included in the fund which reportedly holds NOK26b ($3.3b) worth of gaming operator’s shares in the portfolio. Now a coalition of Norway’s opposition parties have secured a favorable committee vote on six of eight proposed methods to strengthen the nation’s gambling rules. These new measures are to be formally adopted by parliament on May 7 2018. These new rules include granting the NGA new powers to investigate companies that allow advertising and marketing of unauthorized gambling products. The organization will be allowed to impose financial penalties on firms that are in violation of the regulations.

The organization also put into place the DNS blocking of unauthorized offshore gambling sites offering punters from Norway gambling products. This rule was imposed instead of an IP blocking effort, with the DNS block will just warn gamblers that access to these sites is not condoned by the government but consumers can still choose to continue if they want to.

Minister of Culture Trine Skei Grande’s has also launched efforts to curtail Norsk Tipping’s monopoly by introducing a program to license international gambling operators.  Norsk Tipping will also be required to cut some of its marketing activities in Norway in an effort to make sure the monopoly isn’t allowing harm to come to problem gamblers in Norway.

The payment processors and banks were ordered to be aware of certain accounts and to stop processing online gambling payments associated. But some processors simply changed account numbers. Now however the NGA issues the name of companies, rather than account numbers.

 

 

 

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