New Online Gambling Deposit Rules in the Netherlands Starting October 2024

Online-deposit-limits-come-into-force-in-NetherlandsAs of October 1, 2024, Dutch online gamblers are subject to a new set of stringent deposit rules to promote responsible gambling. The measures are part of the Netherlands’ ongoing efforts to ensure player protection, particularly focusing on deposit limits and encouraging self-awareness among players about their gambling behavior.

The newly introduced rules include strict thresholds on monthly deposits, particularly limiting the net deposit amounts players can make. For adults, the limit is set at €700 per calendar month, while for young adults aged 18 to 25, this threshold is significantly lower at €300. Once a player reaches these limits, they are temporarily barred from making further deposits until the start of the next calendar month. These automatic resets aim to prevent overspending and reduce gambling-related risks.

New Rules on Setting Personal Deposit Limits

In addition to the mandatory deposit thresholds, the new regulations require that players set personal deposit limits when registering with an online casino. If a player attempts to set a limit higher than €350 per month (or €150 for young adults), they must engage in a mandatory contact moment with the operator. This interaction, conducted via phone or chat, serves to inform players about the risks of excessive gambling and to direct them to available resources for support, such as the national self-exclusion system, Crucks.

Players who exceed their deposit limits will also encounter pop-up notifications that provide real-time feedback on their gambling behavior. These messages, appearing every 30 minutes during gameplay, remind them how long they have been playing and indicate when they are halfway to their pre-set limit. The regulations are designed to raise awareness of responsible gaming practices and promote safer gambling experiences for all users.

For those who wish to increase their deposit limits beyond the established threshold, proof of financial stability is required. Players can share income statements with operators to verify their ability to manage higher spending limits, with a general guideline being that players can deposit up to 30% of their net income. However, this is not a mandatory process—players can wait until the start of the next month to reset their limits.

Industry Response and Impact on Operators

The Dutch gambling trade association, VNLOK, has voiced its support for the new measures, emphasizing their role in ensuring a safer gambling environment. “VNLOK members have already taken extra-legal measures to provide additional protection for players,” said VNLOK chair Helma Lodders, pointing to previous efforts such as the Online Gambling Advertising Code and stricter limits for young adults. According to Lodders, these measures align with VNLOK’s goal of maintaining a responsible and regulated market.

However, concerns have been raised by industry experts regarding the potential financial strain these regulations might place on operators. Gambling lawyer Alan Littler warned that the increased operational costs associated with implementing these rules, alongside the anticipated decline in consumer spending, could make it more challenging for companies to do business in the Dutch market.

Adding to this, the Dutch government has approved a series of tax hikes for gambling operators, with the gambling tax rate set to rise from 30.5% to 34.2% in 2025 and reaching 37.3% by January 2026. This additional financial burden, combined with tighter regulations, has raised fears that some players may turn to illegal gambling sites that do not adhere to such strict guidelines. VNLOK also acknowledged this concern, with Lodders stating, “Well-intentioned measures can thus have a counterproductive effect,” pointing out that over-regulation may lead to the unintended consequence of driving consumers to unlicensed platforms.

Future Regulatory Changes on the Horizon

Looking ahead, the current Dutch Remote Gambling Act is undergoing an evaluation by the country’s gaming regulator, Kansspelautoriteit (KSA), which is expected to conclude by the end of October. This review will assess the effectiveness of the existing laws and could lead to further amendments. Depending on the findings, additional regulatory changes may be introduced, raising concerns about their implications for both operators and players.

Meanwhile, several companies in the Netherlands gambling sector are developing solutions to help operators comply with these new rules. For example, I-Finance Services has introduced an Affordability Check tool to verify players’ income data, and Bluem launched its Budget Check system, which allows for income verification without giving casinos full access to players’ financial accounts. Trustly has also announced plans for a KYC solution to assist online casinos in adhering to the new regulations.

Source:
VNLOK, vnlok.nl, October 1, 2024.

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Wyoming Registers New Sports Betting Records in October

wyoming-smashes-online-sports-betting-records-in-october-Wyoming, the American state that is widely known as the “Equality State”, has registered new records in the month of October 2023 when it comes to its regulated online sports betting market.

Bettors in the state wagered 21.2 million dollars in October using licensed online bookmakers, an amount which is an all-time high since the state opened its legal online betting market.

The previous record set in the American state was 19.2 million dollars, and it was set in September 2023. Moreover, the figure registered in October 2023 represents an increase of 23.4 percent compared to the same month of 2022.

Gross gaming revenue also registered an all-time high of 2.3 million dollars, an increase of 15 percent year-on-year and 53.3 percent compared to the 1.5 million that were generated in September 2023.

Taxable gaming revenue also set a new record in October, amounting to 1.4 million dollars. That figure represents an increase of 21.7 percent from October 2022 and no less than 172.6 percent when compared to September 2023, when the total taxable gaming revenue in Wyoming amounted to just over half a million dollars.

DraftKings On Top of The Market

The most successful online bookmaker in Wyoming in October was DraftKings, with revenue of 1.4 million dollars and a handle of 12.5 million dollars. FanDuel ended the month in second place with revenue of 402,961 dollars and a handle of 4.9 million dollars.

BetMGM grabbed the final podium place with revenue of 387,344 dollars from a handle of 3.5 million dollars, while Caesars was in fourth place with revenue of just 73,028 dollars from a handle of 378,622 dollars.

The Wyoming onlines sports betting market is set to become more competitive as Fanatics Betting and Gaming will join the fray after having taken control of PointsBet Wyoming LLC.

Fanatics Betting and Gaming is a division of Fanatics, the global sports retail giant, and it has struck a deal to acquire the United States operations of PointsBet earlier this year. The purchase price was 225 million dollars and it was approved by the PointsBet shareholders.

However, the effective transfer of the operations to Fanatics Betting and Gaming will only happen when the operator will receive all necessary approvals in each state. Fanatics Betting and Gaming has so far rolled out its online sportsbook in Virginia following the acquisition of PointsBet U.S.

Source: “Wyoming smashes online sports betting records in October“. iGaming Business. November 23, 2023.

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New York Hits the US-Record $2 Billion Sports Betting Handle in October

The State of New York hit the nation-wide record as the total sports wagers placed through online operators totaled to more than $2 billion in October 2023. Such a handle also brought $166.3 million in revenues to mark the highest market level since the launch of online sports betting in the state in January 2022.

$2.01 Billion in Player Bets

new-york-mobile-sports-bets-break-2-billion-in-octoberNew York players reportedly wagered a total of $2.01billion using online platforms and mobile betting apps to hit the handle 30.5% higher than in the same month of 2022. The figure also represents a 14.2% higher level than $1.76 billion wagered in the state in September 2023.

Consequently, the market hit the record monthly revenue of $166.3million to exceed the September 2022 record of 165.5 million and stand for a 14.1% higher level than October 2022.The remarkable online sports betting result was extensively driven by several leading operators.

77% Market Share of FanDuel and DraftKings

FanDuel kept the New York market leading position with a 50% share in total revenues generated during October and the handle of $891.9 million representing a 44.5% stakein overall bets processed in the market in the given period. DraftKings followed with a 35.6% revenue share and the $652.3 million handle to get hold of a 32.5% share in the total market handle.

Individual Operator Contributions

The remaining around 15% of revenues and 23% of online bets placed in the state in October 2023 have been split to six major operators with their individual revenue and handle contributions standing as follows:

  • BetMGM: Revenue $7.2M; Handle $107.6M
  • Rush Street Interactive: Revenue $3.3M; Handle $114.2M
  • PointsBet: Revenue $1.3M; Handle $27.6M
  • Resorts World Bet: Revenue $894,039; Handle $7.7M
  • Wynn Interactive: Revenue $313,363; Handle $12.3M

Mets Owner and Hard Rock Partners for a Casino License

The $2 billion record handle testifies about the season of the increased gambling-related activities in New York. Another argument supporting the trend comes from the recently made announcement that Mets owner Steve Cohen would partner with casino giant Hard Rock International to bid for the last of the three casino licenses available for a casino development in downtown New York.

$8 Billion Metropolitan Park Casino Development

The billionaire and the top-tier casino operator revealed plans to build an $8 billion Metropolitan Park casino and entertainment complex next to the Citi Field Stadium in Queens, New York City.

The hotel and casino project includes separate sports betting facility, as well as a wide range of amenities, such as a music venue, food hall, an entertainment park, and the associated parking and retail facilities.

Obtaining Support to Bid For the License

Cohen has reportedly hosted multiple community workshops and conducted more than 20,000 door-to-door conversations with local community members. The project has thus secured the support of more than 89% of the pooled community members who signed the petition to support the project and help Mets owner take a lead in the metropolitan casino license race.

Source: “New York sets US-first with $2bn online sports betting handle in October”. iGB. November 13, 2023.

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