For casino operators, 2021 is set to be a lucrative year. Gambling is one of the most prized pastimes, players being somewhat motivated by the suspense and the thrill of the game. Most importantly, people try to entertain themselves, de-stress, and manage anxiety. Many are turning to casinos, particularly online ones, resisting the urge to visit their favorite venues.
While web-based gaming has always played an important part in the gambling industry, it’s now expected that the growth will be considerably bigger as compared to the land-based casino sector. According to the predictions, the Dutch online gambling market is set to become Europe’s biggest.
The Netherlands will finally open the online gambling market in October this year. It’s anticipated that, by 2024, there will a licensed and unlicensed market of about €827 million in size, if we exclude the bonuses. To be more precise, most of the revenue will be channeled towards the legal offering.
New legalization has come into force, allowing offshore operators to apply for a license for the very first time. A great many companies have indicated their interest in entering the regulated market. Needless to say, players are eager to embrace the new offering. For the time being, online casino operators operating under offshore authorities don’t pay any tax.
Dutch iGaming launch has been delayed several times within the last years
The Dutch gambling scene is currently monopolized by Holland Casino, which has 14 gaming establishments across the country. The entertainment venues ensure variety when it comes down to the choice of games and food. Nevertheless, residents prefer playing online, on websites hosted locally, but their numbers are thin.
Players can leverage promotions like no deposit bonuses and free spins. Basically, they can play games that pay real money without risking their own cash. How often does playing for free in online casino really happen? Well, we can’t say.
The Dutch state monopoly is no longer feasible at a time when the market forces are increasing within a liberalized European market. As mentioned earlier, many casino operators are looking forward to offering their services to Dutch players. In any case, years have been spent working on the Remote Gambling Act.
The Netherlands, most like Germany and Ukraine, hasn’t rushed to launch the online gambling market. The highly-anticipated launch has been delayed several times. The Remote Gambling Act was supposed to come into effect from July 1, 2020, enabling iGaming firms to do business. Nonetheless, this envisioned launch didn’t take place.
So, what explains these inherently unacceptable delays?
Responding to the numerous inquiries, the Dutch gambling regulator (Kansspelautoriteit) explained that the delay is inevitable, as it’s necessary to create a sound environment. And that takes time. In spite of the fact that implementation proceeded energetically, it soon became clear that more work needed to be done.
For those of you who don’t know, the Dutch iGaming licensing portal launched following a delay, which is attributed to a technical mishap. Apparently, there was a minor flaw in the web-based application portal. The Kansspelautoriteit expects to license at least 35 casino operators by October 1. It’s rumored that at least 79 gambling companies are struggling to enter the Dutch online gambling market.
Given that the monopoly will be deconstructed, it doesn’t come as a surprise that Holland Casino is interested in moving its operations online. The state-owned and land-based casino operator recently struck a new deal with Playtech, which will build a live casino facility right next to Holland Casino’s existing locations.
Not only does Playtech have the necessary scale to deliver cutting-edge software, but also responsible gambling tools. Soon enough, Holland Casino will be online and Dutch players will be able to play slot games, among many others, over the Internet. If you’d like to know more about online slots, seek free slots information and tips. Getting back on topic, it’s safe to guess that Holland Casino’s online launch will be a success.
The technical challenges that come after the launch of the Dutch online gambling market
The online gambling market in the Netherlands will most likely present strong growth after licensed operators’ breakthroughs. An ever-increasing number of people are gambling online because it’s more advantageous. In addition to convenience and promotional offers, benefits include banking options, reward points, and the ability to choose the desired stakes.
Despite the appetite for tax revenues, there are several obstacles to overcome in a relatively short period of time. It’s necessary to design an infrastructure that fully supports online gambling and find the right people to run the system. In other words, the real challenges don’t start until the Dutch online gambling market is officially launched.
Ingenious pieces of technology need to be introduced to the industry, of which mention can be made of cybersecurity tools, machine learning models, and blockchain payment processing. Casino operators that wish to succeed in the new environment must do more than just provide popular casino games.
They have to ensure superior graphics, offer support for several languages, and acquire sufficient hosting, among other things. To reach intended and potential customers, gambling companies need to make an effort. Numerous brands will be competing in the regulated market, so it’s difficult to make an online casino stand out from the crowd. It may be difficult, but not impossible.
Finally, yet importantly, huge progress will be made once the Dutch online gambling market is launched in October. It will attract quite a few casino operators even if the licensing fees are steeper. Online gaming will become safe, secure, and profitable for everyone involved.
The Dutch online gambling market is confronted with some serious challenges, which it will need to overcome to secure future earnings. Technologies are changing all the time, not to say that customer behavior and beliefs don’t remain the same for too long. The good news is that the challenges aren’t insurmountable. If the industry adapts to evolution and changing technologies, it stands a real chance of surviving and even flourishing in the years to come.