The gambling market in Norway has been on the rise since 2012. The regulatory body figures reveals that the gambling market has grown sixty five point seven percent ever since 2012. All of Norway’s betting services are provided by Norsk tipping and Risktoto- The only two state run operators.
More recently in 2017, Norway’s figures were released by the country gambling regulator lottery. It showed that Norway’s gambling market was worth NOK43.7 and $5.4 billion in 2017. Over two billion dollars were also reported back in unregulated online gambling sales. Although this is officially reported here, the numbers could be much bigger. Other companies target Norwegian customers and make money off of them. It is impossible to properly calculate the total income received accurately.
Norway’s monopoly models been criticized over and over by the gaming industry and European authorities but Norway is sticking with the method. They believe this monopoly model best protects its customers. Norway’s gambling market sales have gone up so much that it has been covered by shows and publications. This gambling market has no shortage of money and is the more popular thing to get involved in. A closer look at numbers and details from this gaming industry are delved into.
The Norwegian population is 5.23 million and out of that amount, 2.2 billion people gamble. The largest percent of gamblers are men. Numbers show that 62% are male and 54% are women who participate in gambling. Number games and scratch off cards were the products that generated the most money. The gross revenue generated NOK11.1 billion. The high number of gambling activity has created way for problematic gamblers in Norway. It is reported that 122,000 are problem gamblers or at risk gamblers. The games that seem to be frequented by the problem gamblers are poker, online sports and online casino betting. These fields have the highest amount of activity from gamblers at risk. The market in Norway is very desirable.
In 2016, $107 million or NOK866 million was reportedly spent on advertising on TV to Norwegian consumers. Norsk tipping and Risktoto are the only two who are able to advertise on TV here but other companies found a way in. These other companies are able to advertise through exploiting regulations and finding loop holes. Ads are being placed across other channels and coming from the outside of Norway. This is how foreign companies are getting away with still advertising. Norwegian lawmakers became aware of this back door strategy and decided to crack down on these unregulated services. Legislation proposed that the loop hole be closed so that foreign companies are not allowed to advertise on TV anymore.
These new rules quickly got approved by Norwegian Supreme legislation. These rules are now waiting to be approved by the European commission. These rules are now in a three month stand still being reviewed. If there are no comments from the European commission or they approve it, these rules will go into effect after September 5th.