The European Commission has a request from the European Gaming and Betting Association (EGBA). A standardized regulatory framework for online gambling across the continent is mandatory.
The EGBA cited research done by the European Parliament. The specifics behind their request are deepening European Union digital single market (DSM) rules to include iGaming.
There are current gaps in the regulations regarding European consumer protection. The voice of the EGBA has been presented to the Parliament’s Internal Market and Consumer Protection Committee.
The benefits are clear
The benefits are clear. It would deliver almost €6bn (£5.38bn/$6.63bn) in annual savings for EU consumers and businesses. A single rulebook for online gambling would lessen administrative work across the board.
Plus, updating regulations would simplify the current 28 sets of national gambling policies that create unnecessary barriers.
According to EGBA Secretary General, Maarten Haijer,
“Introducing a single set of rules for online betting in the EU makes perfect sense – it would improve the regulation of the sector, save significant money for both consumers and companies and help better protect consumers.”
It is no surprise that EGBA is calling on EU policymakers to ensure that the Digital Single Market benefits the 12 million Europeans who bet online. So far only Denmark has responded to the suggest safeguards.
Delving into the issues
EGBA knows that national enforcement tools including geo-blockings and payment-blockings impact consumer safety. These procedures push players to betting websites outside both the jurisdiction of the EU.
They cite the example of member companies based in the EU that offer online betting across all 19 Member States, and collectively hold over 134 licenses. In that this is an average of 22 licenses per company, each having its own compliance requirements, regulatory revision will certainly streamline operations.