Last updated on November 23rd, 2024 at 06:34 am
Denmark’s gambling regulator, Spillemyndigheden, started accepting applications for land-based bingo licenses on November 21. Licensed operators can begin operating in the country from January 1, 2025. The regulator will also approve the applications if they are filled in properly with all the relevant data.
If Spillemyndigheden needs more information, the regulator might provide special licenses with certain limitations while they gather the rest of the details. On December 5, Spillemyndigheden will host a conference to update operators about the new regulations for providing land-based bingo in Denmark, which should help with applications.
According to bookie pay per head recommendations and news reports, a land-based bingo license can be renewed for up to five five-year increments. However, operators must follow many rules. In addition, the regulator requires all board members and executive board members to submit a form. If the business is not based in a European Economic Area or European Union country, the company must name a representative based in Denmark.
Land-Based Bingo Licenses in Denmark
For Spillemyndigheden to determine if there is no immediate risk of misuse, companies must also present debt declarations and criminal histories. Companies cannot have any outstanding debts to the public sector to offer regulated land-based bingo.
Following issuing a license, Spillemyndigheden has the authority to demand the resignation of any employee found guilty of a crime that might lead to the impending misuse of their position in the gaming industry.
A fee of DKK10,000 for renewals and DKK20,000 (about $2,789) for each application will be charged. After obtaining a license, operators are required to pay a fee every year. According to sportsbook pay per head experts, their annual gross gaming income is the determining factor.
With these new regulations, Denmark hopes to encourage a more responsible and prosperous bingo industry as the country progresses toward a more regulated gaming environment. Operators are invited to use the resources at their disposal and attend educational sessions to make the most of the opportunities that come their way.
Denmark Gambling Industry Updates
In November, the Danish gambling authority Spillemyndigheden said the country’s September income was 2.8% down year-on-year, amounting to DKK533 million. Compared to August, it also decreased by 3.2%.
According to sports betting software development specialists, the decline persisted even though September revenues from online casino gambling reached DKK288 million—the country’s principal source of income. Over the past year, this has increased by 12.1%. Compared to the same month in 2023, sports betting income fell 21.7% to DKK144 million.
To emphasize the significance of adhering to worldwide anti-money laundering (AML) and counter-financing of terrorism regulations, Spillemyndigheden has brought attention to the most recent FATF reports on high-risk nations.
According to the Danish Gambling Authority, operators should use these lists to reduce their vulnerability to financial crime. For players from countries labeled as high-risk by the EU Regulation on High-Risk Third Countries, gambling operators in Denmark must undertake Enhanced Due Diligence (EDD) under the country’s AML Act.
With an initial focus on fighting money laundering, FATF broadened its mandate in 2001 to encompass the funding of terrorism as well. To strengthen financial integrity worldwide, it regularly updates its listings of high-risk jurisdictions. According to the latest revisions, operators should be alert and follow Denmark’s AML framework, which aligns with worldwide norms.
