Unleash Your Inner Gambler With Leovegas Casino Games

Unleash Your Inner Gambler With Leovegas Casino Games – The Dutch gambling market is growing rapidly. On the previous page, we wrote about the changes in the Dutch gambling law, such as the plan to liberalize the gambling market and the opening of the online gambling market. This plan has now become a reality. The Remote Gaming Act («Wet COA») came into force on 1 April 2021: according to René Jansen of the Netherlands Gambling Authority (KSA), everyone in the KSA has been waiting a long time. time In this blog, I will inform you of the latest developments in the gambling market, and give you some tips on how to apply for online gambling, since it is well underway and half the game is finished.

An emerging market needs an active regulator. KSA has not been idle for the past few years. Since the Gambling and Gambling Act has recently banned online gambling, it is illegal to offer gambling services in the Netherlands past and present. Currently, Toto (sports betting) and Runnerz (racing and horse racing) can offer online betting. Other providers must ensure that their services are not located in the Netherlands. KSA has fought against illegal gambling because the reliability and fairness of these services cannot be guaranteed. On September 17, 2019, the KSA fined Royal Panda and LeoVegas ¥400,000 and ¥350,000, respectively. Both companies tried to get involved in online gaming by allowing Dutch users to pay with the IDEAL payment system in the Netherlands. On January 8, 2021, the KSA also imposed a €500,000 fine on Virtual Coin Gaming and a €100,000 fine on everyone involved. The banned company offered online gambling games in the Netherlands through the FutGalaxy website.

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These examples show that KSA is actively exploiting the (recently) illegal online gambling market. But fighting against illegal online gambling is futile. An important feature of «remote» games is that there is no physical contact between the provider and the player. In the past, most European countries did not issue licenses for online gaming services, so many companies set up offices in countries to reach European users (Malta is a case of the Netherlands). The endless nature of the Internet and rapid technological advances make it impossible to adequately capture it. Many European countries such as Italy, France, Germany, Spain, Belgium, Denmark and Sweden have legalized and regulated the market based on the desire of companies that want to open offices in Europe and offer online gambling. Based on this development and the high level of illegal gambling in the Netherlands, the Netherlands is also one of the last countries in Europe to open its online gambling market.

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There are already calls to open up the Dutch gambling market. In 2005, a bill was introduced to allow Dutch casinos to offer their services online. But this bill was defeated in the Senate (Erste Kamer). The first concrete objective to fully regulate the online gambling market can be found in the 2012 VVD and PvdA coalition agreement. This coalition agreement expressed a desire to «modernize» gambling policy and «regulate» online gambling.

This culminated in a draft law in 2013 that implemented plans for a coalition agreement. After a long legislative process, the DIM COA was approved by the Parliament (Tvede Chamber) in July 2016 and the Senate in February 2019. , Anti-drugs, consumer protection, fraud and crime prevention, KSA Moyan KOA and subordinate regulations were included in the licensing process. . As of April 1, 2021, it is now possible to apply for a license on the KSA website. The first group of licensees should be able to offer their services from October 1, 2021.

Since the Clean COA has only been active since April, the (recently) largely illegal market is uncharted territory for all participants. Several parties, including KSA, have analyzed the online gaming market in the Netherlands to influence market size.

More than 1 million people in the Netherlands engage in online gambling from time to time, and the online gambling market in the Netherlands is worth 1.1 billion euros. Most (70%) of the services offered are expected to be legal after entering the wet KOA. KSA expects 9 out of 10 current players to move away from illegal suppliers. In addition to assessing the size of the market, KSA also tries to predict the number of gambling service providers who want to enter the online market. A survey conducted in 2019 showed that more than 125 companies in the Netherlands and abroad expressed interest in the license. Depending on the number of license applications, KSA itself expects to issue between 70 and 80 licenses in the licensing process. This prospect coincides with the recent opening of the online gaming market in Sweden. The Swedish equivalent, KSA, has now issued more than 80 licenses.

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Estimates can be made based on information published on the KSA website during the licensing process. One thing is for sure: the wet COA license application process is tough. To quote Rene Jansen, chairman of the KSA: «I assure you: getting [the license] is not easy.» Interested companies must comply with strict requirements regarding drug prevention, consumer protection, fraud and crime prevention. The process now consists of 16 sub-themes, which are summarized below.

(1) General requirements for the licensing process The license application must be submitted in the Netherlands. The cost of the application is 48, 000. To ensure the credibility of the interested applicant (2), it is necessary to check the legal institutions and the predecessors directly and indirectly. An organization chart should also be provided. In addition to trust, the applicant’s honesty (3) also plays an important role. To prevent gambling fraud and abuse, the applicant must analyze the integrity policy, including the integrity security. In addition, KSA puts a large store on the applicant’s resume (4). The applicant must demonstrate that his gambling assets are different from his working capital, and he may be required to provide a guarantee.

Finance is another important aspect of licensing. The applicant must (5) prepare a policy document to demonstrate that adequate safeguards are in place for the secure processing of payment transactions. In addition, it is necessary to indicate that the payment instrument used is provided by a licensed credit institution. In addition, the applicant must (6) ensure that gambling funds are segregated from other assets. This can be done in the form of a bank guarantee, trust account, trust account or other security. Finally, the applicant must provide (7) a financial guarantee. It can do this, for example, in the form of a bank guarantee, deposit or guarantee.

Another important aspect of the licensing process is that the applicant meets the requirements of (8) Money Laundering and Terrorist Financing (Prevention) (Wan ter voorkoming van witwassen en fincieren van terrorism) and (9) Sanctions Law (Sanctiewet). , and anti-match-fixing requirements The applicant must establish an anti-money laundering policy to meet the requirements under the Money Laundering and Terrorism Financing (Prevention) Act. The sanctioning act requires the applicant to complete the application in part on a digital application form. These legal requirements (10) also apply to foreign cases. An external policy and an external agreement should be in place and a compliance officer should be appointed to ensure compliance with legal requirements in external cases.

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In addition, several requirements regarding player registration, data storage and monitoring of gambling systems apply. The applicant must, for example, demonstrate that he can confirm that the player (11) is registered with the Central Release Register (CRUKS). For this, the applicant must submit proof. The applicant must also (12) establish an internal monitoring system. A policy document should be prepared for this purpose, describing the system and describing the officers responsible for protection. In addition, the applicant must have (13) control information that allows the KSA to access the digital data. The applicant’s gaming system must also be inspected by the inspection department. The results of the gambling system review (14) must be submitted to the CSA.

Finally, several conditions apply (15)

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