While many states in the good old U.S of America have been too tangled in legislative and moral discussions, or battles as they should more appropriately be called, to take advantage of the booming industry of online casinos and gambling, certain European countries seem to have no such compunction and have been aiming to capitalize on said rising star of an industry. Exhibit A: Denmark.
Safe online gambling in Denmark
Throughout the last several years, Denmark has served as a prime example of Europe’s fair and financially successful online casino industry. Since the inception of the Danish Gambling Act (DGA), online gambling has been amended and modified throughout many incarnations to make online gambling as safe an activity as possible.
The Danish Gambling Authority (also known as the DGA, just to make matters a bit confusing) provides licenses for online casinos who deserve them, after thorough and detailed inspections. Without these licenses, operators cannot conduct their business. Similarly, the Danish Gambling Act continues to be updated to protect those that are not old and responsible enough to take part in online gambling activities.
Any and all online casinos that are committing infractions that are thought to endanger the wellbeing of the player will be hit with substantial fees, or they could have their licenses removed entirely. Denmark, however, continues be, par excellence, a case study that prove all these safety and fairness regulations do not stand in the way of the industry growing exponentially, or players entertaining themselves while also making money from the comfort of their homes.
Growth, Profit and a shift in focus
While its brick-and-mortar locales of land based casinos seem to be getting a bit left behind in the dust of the past, as they just can’t compete with their online casino counterparts. The raw numbers in revenue don’t lie in regards to online gambling in this European country. During the first financial quarter of 2019, the market’s profits generally went up by about 4.5%, compared to last year’s first quarter (which was by itself even considerably more successful that the very same quarter of 2017). In this very same quarter, online casinos managed to accrue a sum total of 556 million Danish Krone.
This is the rough equivalent of 83 million US dollars. It is also worthwhile to mention that approximately 60%, more than half, of said total revenue, came from what appears to be the most popular online game in the country: slots. Other types of virtual gambling also have appeared to risen in popularity, including online bingo and sport bets. Online poker, however, has shown a fall in profits for reasons, so far, unknown.
The future of online Casinos in Denmark
All in all, what will this mean for the future of online casinos in Denmark? The answer to this question is considerably difficult to predict, even with all the positive results they have been getting so far. Some seem to think that the continued and amazing growth their market has had over the last few year is unsustainable, thinking they’ve hit their upper limit.
This wouldn’t necessarily mean that revenue would stop or decrease. Hitting this plateau would just indicate that profits would generally stay the same over the foreseeable future. However, if this were to come to pass, revenue would continue flowing from this industry in Denmark every single year, still managing to exist as an incredibly profitable market.
Besides, this phenomenon of slight stagnation is still not certain, as it is all speculation for the time being. Additionally, while conventional casinos have been trailing a bit behind in comparison, they are still in every sense of the word, quite a successful venture. All in all, prospects seems bright for both gamblers and the Danish online gambling industry in general.