The entire European Union is unified when it comes to financial affairs, and most of the European nations comply with EU’s policies. However, each member nation has its final say to enforce a particular law or not.
Now, coming to the online gambling laws, every EU state has their own set of regulations. The European Union has not framed gambling policies for the EU members to follow. Most EU states forbid companies to run online gambling activities within the countries, while some freely allow them in their territory.
Despite the restrictions, this hasn’t prevented the booming popularity of the online gambling industry. Lack of country specific regulation has helped this industry to thrive with each passing fiscal year.
While many European gambling sites are regulated by MGA or Curacao, some online casinos operate on pirated software. Their games are not fair. Players don’t receive winnings on time and customer support is unresponsive. Some gambling sites commit fraud and shut down overnight, leaving users unable to access their funds.
European Gambling Laws Country Wise
Germany: The country passed legislation in 2008 to prohibit all forms of online gambling in its territory. However, one German state started issuing licenses to casino operators and later revoked them.
Poland: Except for sports betting, all types of gambling are allowed by law.
UK: The United Kingdom has a liberal approach to gambling and betting in the country; there are no strict restrictions. However, there are regulations in place to unlawful betting activities.
Italy Showed Us the Way – Licensed Online Gambling Model
We come to Italy, which is creating a lot of buzzes these days in the online gambling industry. Until the year 2010, Italy didn’t allow its citizens access to international online gambling sites, apart from two sites operated by racing organizations and national sports. Then in 2003, the European Union launched proceedings against the Christian holy capital of the world.
In 2010, Italy opened its doors and lifted the ban & restrictions to welcome online gambling sites. The government licensing committee (AAMS) is authorized to permit gambling operators to legally and safely run an online gambling business. They even allowed real-time betting in sports and online gambling.
The licenses are being issued to casinos, poker, and other gambling games operators. The online gambling license is given for a period of 9 years, and during this time, the operator is required to comply with the rules of the governed. Otherwise, their license can be dismissed with immediate effects.
One important thing to note here before you file a license application to Casino AAMS is that you must have a security deposit equivalent to 1.5 Million Euros. It is to ensure that the earnings of the players will be paid, regardless of the circumstances.
Building an Online Casino Is Now Easy
There are several software that let you build a customized online gambling platform. Even if you don’t have any coding knowledge, you’ll find it easy to build one by following a few simple steps. Before you choose software for building your online casino, you must thoroughly analyze its market reputation. Do they have a 24/7 customer support to provide the best technical assistance you need? And don’t forget the pricing and features you get, weigh them to make a wise decision that script your future success story.
Let’s Wind Up
Before you launch your online gambling site, it is highly advisable to carefully check the rules and regulations of the country where you’ll be operating, to avoid legal hassles. In the coming years, several other European countries will implement Italy’s online gambling licensing model.