FAD Magazine

FAD Magazine covers contemporary art – News, Exhibitions and Interviews reported on from London

The Impact Of Covid-19 On The Gambling Sector In The Netherlands

Covid-19 particularly hit the slot machine industry and Holland’s Casinos in 2019 and 2020. On the other hand, Lotteries did not suffer the same financial setbacks as the land-based gambling industry. In today’s article, we look into the full effects that the recent pandemic brought onto the Gambling sector in the Netherlands.

A Recap Of The Last Few Years

Holland Casino’s stake in the Dutch gaming industry “plummeted considerably” from 10.7 percent in 2019 (€288.9 million in revenue) to 6.4 percent (€124.7 million) in 2020, according to Market Scan 2022.

In 2020, Holland Casino produced €158.9 million in net gaming income from gambling machines, with an extra €506.2 million generated from the food sector and arcades. In 2020, earnings from gaming machines would decline a whopping €665.1m from €1.19bn in 2019.

As a result, net gaming revenue fell from €2.7bn in 2019 to €1.94bn in 2020, ending a period of expansion in the business. The biggest contributors were still the lotteries and slot machines.

Sports Betting

According to the KSA, the sports betting business was already flourishing before the debut of the freshly regulated online gambling market in October of last year, but the Covid-19 outbreak had hampered it.

Up until Tuesday, October 2, the Netherlands had just two authorized sportsbooks: Loto BV and ZEbetting & Gaming, all under the Toto brand.

Current and Future Gambling Situation Of The Dutch Gambling Market

Following the debut of the recently regulated online gaming market in October, KSA expected that the average expenditure on land-based gambling in the Netherlands would continue to plummet.

It is expected that online casinos will continue to develop, but that they will be shared among a larger number of businesses. The number of licenses is now up to 11, but more are expected to apply for licenses to operate in the 2nd period of this year. 

Sports bettors on the other hand are free to bet on sports using online sites. Nowadays, you can find many detailed reviews on how to pick perfect online sportsbooks in NL, so it’s always recommended to check out a comprehensive review site comparing the best bookies available. In doing so you ensure your bets are first and foremost in safe hands.

Thankfully legalization helps bookies and regulators join forces to provide punters with the best and fairest experiences possible. So much so that recently the KSA rolled out a warning to consumers using unlicensed offshore sites that all unlicensed gaming sites will soon become impossible to enter from the Netherlands.

The Current Gaming Laws In Holland

For starters, let’s make it clear that internet gambling is legal in the Netherlands, just like land-based gambling. The very first Wagering Act (‘Wet op de kansspelen’) was passed in 1964, and this has been the situation ever since.

Since then, the landscape has undoubtedly evolved dramatically. That’s why an updated Remote Gambling Act was passed in 2019 to bring existing rules up to current day standards. This law was not introduced until the spring of 2021 as a result of delays caused by Covid, however, to the best of our knowledge, sports betting firms in the Netherlands can now reapply for licenses to operate. Online casinos, on the other hand, are an exception, as the state-owned Holland Casino is the sole provider in this market.

Sport betting firms in the United States are regulated by an independent body that holds them to the greatest standards of security and fairness, just like in other major internet gambling nations. The Netherlands Gaming Authority, or ‘Kansspelautoriteit,’ is in charge of keeping an eye on things here.

What Have The Netherlands Gambling Authority Been Up To

On top of overseeing compliance with the wagering and gambling Act, an administrative body in Holland must cope with the impacts of the last few years’ global pandemics. According to the Netherlands Gambling Authority, operators and advertisements that take advantage of the existing market conditions will be rigorously monitored since March 2020.

Such parties, according to the Authority, shall be dealt with in accordance with its rules and regulations. Even the European Betting & Gaming association chipped in warning consumers with a public announcement stating the Stichting Speel Verantwoord has officially joined in to make sure gambling operators refrain from utilizing any form of advertising in reference to the recent Covid-19 pandemic.

In addition, the Central Exclusion Register (CRUKS) meetings for the land-based sector have been canceled. On the Netherlands Gambling Authority’s website, you can now discover information on CRUCKS.

Conclusion

There’s still much more to come in the Gambling sector for Holland and one can even say that this is a sole exhibition of marketing. This is especially true when you consider how young their online gambling scene really is. With time we should see more interesting advertisements, the Remote Gambling Act shaping up, and newly licensed bookies continue joining the list of licensed gambling sites. 

Categories

Tags

Related Posts

Trending Articles

Join the FAD newsletter and get the latest news and articles straight to your inbox

* indicates required