Gambling Laws and Regulation in Europe
In terms of financial significance, it can be said that Europe is a single state. Since Europe is in terms of economy very independent regulation of gambling games and gambling laws are governed also by the European Union. However it should be noted that the countries of the European Union are still responsible for their own gambling legislations especially since there is no regulation or legislation which is strictly covering the gambling industry and betting throughout Europe.
The European Union Gambling Market
On the other hand the European Union gambling market grows at high rate of around 3 percentage on yearly basis which is around 84.9 euros profit from gambling games. Online gambling industry has gained a huge base of fans and it is estimated that around 6.8 million of people in the European Union play online gambling games. Studies has shown that in 2012 online gambling platforms represented around 12 percentage of overall gambling market in the European Union which is over 10 billion euros of annual revenue. This number of more than 10 billion euros in annual revenues is expected to increase over 13 billion euros next year.
Online Gambling in the EU
Online gambling in countries which are part of the European Union is characterised by various legislation frameworks, and some European countries have individual regimes by private operator, while on the hand other countries have established regulatory systems which include multiple operators.
Online gambling is rapidly growing industry in Europe as well as worldwide in both terms of demand and supply. It should be noted that various kinds of online gambling providers often operate across European borders so they in fact operate outside of control and regulation of European countries and their national authorities. However, those players who search for online gambling services which operate across borders, risk of getting exposed to various frauds.
Online Gambling Jurisdictions
Several gambling jurisdictions are based in Europe and some of them are also part of the European Union. In other words these gambling jurisdictions based in the European Union are also subject to the regulation and rules of that body as well, and those which are not located here are independent. Online gambling jurisdictions are responsible for approving online gambling platforms and providing them with license which are required in order for gambling site to offer services in legal manner. Some of the European gambling jurisdictions include Malta, Gibraltar, Isle of Man and Alderney gambling regulatory body.
The European Gambling Commission
The European gambling commission is focused on online gambling platforms in given terms of cross-border nature. The gambling policy of the European Commission is built around primary initiatives which are presented in Communication on gambling in 2012. The European Commission mainly focuses on national regulatory frameworks in the European Union and enhancing cooperation in administrative way and effective enforcement. The European Gambling Commission is also focused on protecting consumers, vulnerable groups and minors. They also focus on preventing money laundering and fraud. This regulatory body also safeguards the integrity of sporting events and prevent match-fixing.
Online Gambling Laws
Many forms of online gambling are legal in France, Germany, Spain, Italy and other countries in the European Union. For instance, The French government in 2009 introduced a legislative bill which is related to online gambling and in 2010 there were officially legalized three forms of online gambling. When it comes to the Germany and its gambling laws in 2008 gambling legislation was introduced which banned all kinds of online betting and gaming. Exception was horse racing. However in 2012 the Interstate Treat on Gambling was introduced which allowed some private companies to provide certain gambling services.