The popularity of online gambling in Europe has grown exponentially in recent years. Most EU countries allow at least some types of online gambling. Some countries allow all games, while others allow only certain types of gambling.
The industry has put a lot of effort into building its own customer base in many European countries and currently the best online casinos are based on this continent. Besides online casinos, there are many other gaming-related activities such as casino comparison sites. Popular Scandinavian brands focus on compiling lists and reviews of all online casinos on the market. How they affect the economic market, check out these helpful tips.
Online casinos in Europe are no different from casinos in other countries, but what makes them so popular? One of the reasons must be that Europe has some of the strictest gambling regulatory bodies in place, which builds trust between players. These oversight bodies demand transparency and ensure that all players in Europe have the right to bet on established and regulated gaming sites. European regulations also require operators to adhere to strict responsible gaming and data protection policies.
Regulation of gambling in the EU
In the single market of the European Union, a gambling operator located in one of the EU countries can promote and sell its services throughout the market. This is possible because the freedom to provide services also extends to gambling.
Each Member State has the right to conduct gambling operations through the system of its choice. However, regulation is always mandatory. Gambling regulation options include a licensing system, a monopoly, or a combination of the two. Whichever system is chosen, it should help in the fight against money laundering, terrorist financing and gambling problems.
Most European countries have chosen a licensing system to regulate their gambling. This means that in order to offer games, they need to obtain a license. The general policy is that some games based on luck (such as lotteries) remain in the hands of the state monopoly. Only Finland and Norway have a monopoly on all gambling.
The license is proof that the online casino is properly regulated and controlled by an official regulatory body. Licensors, i.e. gambling authorities, regularly check their licensed casinos to ensure a safe gaming environment for players, and also provide support in case of any problems.
Malta Gaming Authority
Tiny Malta in the middle of the Mediterranean Sea is familiar to many online casinos. It is the most prominent licensor in the European online casino market and the Malta Gaming Authority (MGA) has many years of experience in licensing and regulation. The gambling license issued by the MGA gives operators the right to offer their services on the entire EU free market.
One of the reasons for the popularity of MGA is the rather favorable taxation system in the country for gambling operators.
Applying for an MGA license is a complex and time-consuming process, and obtaining a license is not easy. Before receiving it, the casino undergoes a thorough investigation, after which it must follow all the rules and regulations established by the MGA. The casino operator is also required to provide its customers with information about responsible gambling and gambling problems.
For players, one of the best news is that the MGA requires its licensed casinos to separate player funds from casino funds. This prevents the casino from mixing players' assets with their own in case the casino runs into financial difficulties.
Other licensors
A gaming license issued by the Estonian Gambling Authority is a viable alternative to MGA. The licensing system combines features of both the Maltese model and the more conservative national licensing system popular elsewhere in Europe. Online casinos licensed in Estonia provide a safe gaming environment for players living in the European free market. Oddly enough, Estonians themselves are not allowed to play in any licensed casinos outside their country.
