The new gaming regulator for Norway, named Lotteritilsynet, has just revealed that it will be creating a new amendment towards its legislations in banning unlicensed operators. This amendment will be taking place effective immediately on 1st January 2020.
Back in 2010, Norway was able to revise its gaming regulations and create an official ban on any gaming operator that does not have a Norwegian license, authorization by the Lotteritilsynet. However, even after this ban was put in place, it has been reported that over NOK6 billion (over $659 million) were invested in these companies.
Normally, Norwegian banks have a system put in place to help put a stop to these transactions. Unfortunately, it appears that non-licensed operators have found holes in this system by alternating between other forms of payments. This can be done by switching third-party sources or covering up a player identity so that the transactions remain anonymous.
With these new changes put in place, the primary objective will be to put an end to these loopholes so that operators cannot commence any operations without an official license. For example, they will now have the power to request blocks on payments according to which company they are using, and which payment plan they have set up. This will give them more control over how the operators organize all their transactions with customers.
The lawyer and advisor to Lotteritilsynet, Gram Skar, issued the following statement regarding the new amendments.
“We see the effect of today’s work, but the purpose of the changes is to make the ban on payment services more effective. This means that we can, to a greater extent, prevent gaming companies from accepting deposits from Norwegian players,” Mr. Skar said.
Offshore operators have been reduced in their operations by 19% over the past year since last October. Official companies have been currently rising by 6% on an annual basis.