Huge Interest Generated in Dutch Gambling Market

Huge Interest Generated in Dutch Gambling Market

Since the Netherlands altered its rules surrounding online gambling, a mass of interest has been generated by companies looking to involve themselves in it. In fact, a total number of 79 companies have made their interest known in receiving a gambling licence from the regulatory body of the Netherlands, Kansspelautoriteit.

It was on June 5 that the body began an exploratory interest registration period, calling on international gambling companies to provide details of their interest with regard to offering their services within the Netherlands. That period came to an end on June 21, and it saw several big names put themselves forward as holding an interest.

The interest generated comes following the passing of the Remote Gambling Bill in the Netherlands this February. The bill had been left in a bit of limbo after it was first approved by the Dutch House way back in 2016. Yet, it didn’t seem like a priority after it was left without much attention provided to it for over two years. Yet, the Senate finally got around to legalising it, ensuring that the Netherlands now has a liberal gambling market, which will allow foreign companies to operate in a newly regulated market.

Kansspelautoriteit is now working on the rules and regulations surrounding the new gambling market, and to assist with this, the registration of interest procedure was set up. With such a grand response, it seems clear that the Dutch gambling market will take off upon the new laws coming to fruition.

Looking Ahead to January 2021

The Dutch Remote Gambling Act is supposed to come into effect on July 1 next year. Prior to that time period, the Chairman of Kansspelautoriteit René Jansen spoke of the necessity to know about the potential applicants it would receive from international companies. With such knowledge, a smoother licensing process will hopefully be introduced.

The Dutch Ministry of Justice and Security is currently reviewing the overall legislation for the liberalised gambling market. Once complete, the terms under which licences can be applied for and granted to foreign companies, will be set. The overall process of bringing in the laws and then allowing companies to apply for licensing is expected to see online gambling in the Netherlands finally arrive by January 1, 2021.

The introduction of the new Remote Gambling Act is set to replace the country’s outdated laws and rules surrounding gambling. The current regulations were introduced to the country over 50 years ago, and the reorganisation of this was actually expected to take place a lot earlier than 2019.

However, things now seem to be moving at a decent rate, despite the fact that Mr Jansen claims the reorganisation process itself has put quite the high demand on Kansspelautoriteit. That being said, the Chairman said that if needed, an external group of employees could be hired if necessary, to ensure that the licensing process and awarding of such to successful candidates is done as smoothly as possible.

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