Denmark To Amend Online Gambling Legislation
According to a report by Danish gambling regulator Spillemyndigheden the nine online gaming operators generated about $400 million in revenues in 2014. This is a 20 percent increase from 2013 and a 40 percent rise from that of 2012. The steady growth in the gaming sector has resulted in amended online gaming legislation.
After receiving approval from the European Commission, Denmark is posed to introduce modifications to online gaming regulations by the end of 2015.
Firstly Danish authorities intend to tighten up measures aimed at preventing money laundering while also modifying existing tax legislation applied to gambling operators which will be based on their yearly revenues. Operators that generate over $15 million will need to pay a higher license fee than those generating less than this amount.
Another major change will be a new license aimed specifically at daily fantasy sports operators. Here it would be wise to take note that of the top regulated sites operating in Denmark, PokerStars is prominent. Their recently announced plans to entry the DFS market would benefit from the new legislation. The Danish legislator is hoping that the proposed changes will increase growth and attract the entry of new operators looking for a regulated market.