Recently, the online gambling industry has been speculating on whether online gambling would be legal in the Netherlands. This is because the Netherlands are a rich gambling market which has led to the Dutch Remote Gambling Bill. Yesterday, voting began and ultimately it was in favor of the bill. Thus, the Dutch Senate Legalizes Online Gambling after three years of trying.
According to the latest internet gambling news sites, the Netherlands will start issuing online gambling licenses sometimes next year. This is a big victory for offshore sports betting companies as well as for local gaming businesses.
The Remote Gambling Bill made it pass the Lower House of the Dutch Parliament 2.5 years ago. However, it took quite a long time for it to pass the Senate. Now, the only step left is for the country to start restructuring its online gambling market.
A Lot of Interest in the Dutch Online Gambling Market
The licensing process will probably begin in the middle of next year. However, the Netherlands will not have a regulatory board until 2021. The long wait is certainly frustrating for many companies hoping to start an online gambling website.
This is because the Dutch gambling market is seen as very lucrative. In fact, the gambling market rose 20% between 2016 and 2018. Despite the interest in the Dutch Market, the Dutch government is taking its time. This is because they want to ensure that it has the power to properly manage, monitor and regulate the market.
According to Financieele Dagblad, about 300 companies have already show interest in operating an online gambling website. In addition, at least 50 of these companies will probably apply for a gambling license.
In general, most gambling companies are happy with the results of the voting. Furthermore, even PPH Sportsbook companies are also showing interest in expanding into the Netherlands.
