The major goal of European gaming regulation is to provide the most precise and up-to-date laws possible. It is past time for individuals involved in the gambling industry on this continent to be aware of current trends in European gaming legislation. Then we got in touch with Exycasinos experts and the guys shared the relevant info.
Increased fines and taxes
Europe is a fantastic place to gamble safely and fairly. Not only is this realm absolutely legal and controlled, but players can also withdraw their winnings at any time. New tax regulations have been implemented, which require operators to pay more taxes. As a result, many operators are switching to crypto transactions to decrease fees. However, while gambling taxes are exempt in some countries, such as the United Kingdom and Italy, players in other countries, such as France, must pay taxes.
In terms of sanctions, new restrictions have been implemented to impose tighter measures in order to protect the athletes. As a result of their failure to protect their customers, gambling organizations will face large fines. It's worth noting that fines levied against gaming companies have climbed dramatically in the last five years.
Politics of responsible gambling
In Europe, a trend in gambling regulation is a push to promote responsible gaming among clients. The goal of this policy is to combat gambling addiction as well as underage online gambling. To assist compulsive gamblers and to reduce gambling-related problems, free autonomous organizations and other associations have been established.
Some of them are well-known for providing the greatest and most effective gambling harm reduction methods. In the United Kingdom, for example, every licensed gaming and gambling operator must participate in the GameStop program. This self-exclusion policy prevents gamblers from accessing regulated betting websites if they believe they are suffering from gambling addiction.
Customer safety is paramount
Scams are becoming less common in the gambling industry, so player safety is becoming increasingly vital. When it comes to customer protection, the casino regulation is the first name that springs to mind. Despite their economic interdependence, European countries regulate their gaming industries independently. In truth, each country has enacted its own gambling regulation in order to protect gamblers and promote responsible gambling.
Despite this, the European Gaming and Betting Association (EGBA) was established to license and regulate the gambling business in the European Union (European Union). This Brussels-based trade group aspires to collaborate with EU authorities and other gambling watchdogs in order to provide the best possible client protection.
Offshore operators are under pressure
In several parts of Europe, the number of remote betting and gaming enterprises has expanded. The regulatory authorities have made significant changes to these offshore operators. Financial constraints, tougher rules, and increased gaming tax rates are among the obstacles they face. Indeed, the more companies that sell or advertise their products in European countries, the greater pressure they will face.
Advertisement prohibition
Gambling advertisements are likely to exacerbate gambling issues, particularly among adolescents and the vulnerable. Advertising for gambling products has been banned entirely or partially in some countries. On January 1, 2019, Italy's rules prohibiting gaming ads went into effect. However, the Italian advertising and communications regulator, Autorita per le Garanzie nelle Comunicazioni (AGCOM), just released a new rule that allows advertisers to follow this advice. This prevents regulated and non-ADM casinos from advertising themselves directly on the Internet, television, and other forms of media.
Apart from receiving a license from the national regulator, foreign gaming enterprises frequently receive preferential treatment as compared to domestic gambling companies. This type of pressure has become common among offshore corporations operating in Europe.
