Since the entry of modern gambling and crypto, Netherlands has tapped into the world of online gaming. Recent reports and statistics reveals that there are approximately 1.8 million people taking part in offshore online casino gambling. That’s only 10% of the population, but it has grown by 20% in the last two years. Following this, the Dutch Government announced that online gambling is now legal in their jurisdiction.
Enactment of the Law
The continuous growth of the online gambling industry in the Netherlands is the fastest growth West Europe has ever seen. Further research shows that the total online casino market of the Netherlands is worth around 600M EUR—or about 680M USD. Within the study, it also revealed that the most popular online casino games in the country are poker, bingo, blackjack, and roulette. These games mostly trigger men ages 18 to 35.
The impressive contribution of the industry to the country’s economy caught the attention of the government. So years after the legalization bill was passed by the House of Representatives, the Senate finally voted for it to become law last February 19, 2019. It will allow the country to receive fixed taxes set at GGR (Gross Gaming Revenue) 29%. However, the law will not only focus on profit out of taxes. Another motivation of the government to legalize it is to protect the country’s citizens from gambling with scammers and illegal operators.
Not only does this open doors to fiat gaming sites, but also Bitcoin-powered casinos that seek to expand its coverage. This gives players an opportunity to experience the diversity of online gambling. With various payment methods available and a plethora of games present, the online gaming experienced is improved further.
Requirements For All Parties
Full details regarding the terms and conditions of the law have yet to be revealed, it will take some time in order for the law to be in full effect. But the first set of licenses granting online gambling operators permission to fully operate will start to circulate in 2020. The first legal providers will also enter the market in the same year. Concerning this, the government is requiring all parties to meet and satisfy the following conditions:
- Gambling operators and providers must make a report concerning possible gambling addictions
- Gambling operators and providers must regularly pay taxes in the Netherlands
- Organizations that have received a fine from KSA in the past are not eligible for a license in the first two years.