The online gambling market is one of the billion-dollar sectors with the quickest growth rates globally. Online gambling has changed from a realm dominated by poker to a legitimate alternative to physical casinos thanks to a perfect storm of technology possibilities and a post-Covid reality.
The Netherlands has opened its internet gambling sector after ten years of trying to establish laws. Less than a dozen casinos initially joined the market today, there are around 20, and more are anticipated in the upcoming years. The list of betting sites in the Netherlands is easy to find, giving you plenty of information about what they offer.
Uniqueness Of The Dutch Market
The Dutch market has a few extra quirks besides its legal origins. To direct the development of internet casinos, the KSA, the office for gambling regulation, was established. As a result of legislative delays, At that point, it decided to use three essential website metrics to prioritize its efforts:
- Making use of Dutch words or symbols (think windmills and wooden shoes)
- Advertising on Dutch-language media outlets
- Offering payment options in Dutch
Online casinos could thus mainly get away with a global strategy involving Dutch gamers. However, the Dutch market was enormous, estimated to be worth 750 million euros. One of the biggest betting companies in the world, Unibet alone, lost 30% of its monthly income when it left the Dutch market. Smaller parties also lost a few million dollars each month.
The limited market, the preference for sports betting, and the fondness for traditional fruit machines are other characteristics that distinguish the Dutch online gambling industry. Additional features, such as limiting bonuses, enforcing restrictions, and strengthening laws, attracted the attention of nations trying to control online gambling.
Regulations
The Dutch online gambling sector is unique because of these regulations. One of their fundamental flaws is the few choices for self-exclusion in other widely used licenses. Players can self-exclude with one casino in the UK and Malta, which were once thought to have the most challenging and dependable permits, but then register with another casino, even one owned by the same business. CRUKS, a central player record that checks players’ self-exclusion status based on their social security number, is how the Dutch have combated this issue.
This means that you cannot place a wager in a single casino once you register. Despite their best efforts, excluded players have no (legal) channels to act out because registration occurs in land-based and internet casinos. Online casinos must monitor each player’s patterns and submit regular reports on those patterns per other related requirements.
The boundaries of the Dutch license are another area where player protection is a priority. Limits must be set for daily playtime, weekly deposits, and the maximum balance in a player account by the players. Any amount over the cap is automatically withheld.
Growth Prospects
For a long time, the Dutch online gambling sector has been undervalued. With so many legal choices open to Dutch players, estimation accuracy should also rise. The most extensive land-based casino chain in the nation, Holland Casino, which also has a sizable selection of online blackjack and roulette games, made around € 40 million in its first three months of operation. This implies that the market as a whole is still worth € 750 with an estimated market share of 22%.
However, many more casinos are keen to (re-)join the sector, which is anticipated to continue expanding until 2025. By that time, 80% of gamblers should visit licensed casinos. A strong performance by the national side at the 2022 World Cup and the KSA, allowing parties with significant revenue streams back into the country, may help the Dutch market grow even more.
Conclusion
One of the largest online gambling markets, the Netherlands, has adopted its license in place of accepting the Malta and UK licenses. Soon, the rest of the world is soon anticipated to follow, which may spell the end for eye-catching bonus sums, autoplay, and the exploitation of players at risk. National governments have taken note and are keen to put this successful Dutch license into their own versions, with all of its quirks.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.