Norway Bans Gambling Payment Systems: What Does This Mean?

0
352
Norway Bans Gambling Payment Systems: What Does This Mean?
Norway Bans Gambling Payment Systems: What Does This Mean?

Recently the Norwegian gaming authority known as Lottstift decided to place payment prohibitions on a number of operators that have been licensed by the famous Malta regulator.

As a result of the ban, Norwegian citizens are now unable to deposit funds on other accounts with these operators and are not able to play the games anymore. According to Lottstift, this is the result of a breach of the Norwegian law and warranted immediate action that would prevent local banks and foreign banks from accepting transactions from local bank accounts that were going out to these operators. According to the authority, not a single entity is allowed to process transactions that are directed to or from gambling operators that are not licensed to operate within Norway. As a result, seven of the most popular gambling websites in Norway, all of them licensed to operate by the Malta authority have been banned from making or accepting payments. This means that not Norwegian will be able to enjoy playing games with these websites anymore.

Currently, the only two gambling operators that are allowed to function within Norway are Norsk Tipping and Norsk Rikstoto. All others, which were popular with Norwegians, including First clear Limited, Lucky Dino Gaming, Dreambox Games, Betsson, Cherry brand Co0Gaming, Gaming Innovation Group and L&L Europe Partners limited are forbidden from operating on the Norwegian markets and with Norwegian citizens, even despite the fact that they possess licenses to operate from the Malta Gaming Authority.

Some specialists believe that this will be followed by a protest from both the gamers and the companies that were offering their services to these gamers. While companies will be looking to get back all of the users they will have lost as a result of this ban, the users will be infuriated by the fact that they are now unable to withdraw any funds from the accounts that they have with these companies. Although, while most of the major companies that have been damaged as a result of this might be keeping quiet about the issue, some are starting to look for what actions they can take. Kindred, for example, has filed a lawsuit against the Ministry of Culture of Norway in 2018. The company believes that the authority is going way beyond what their authority should permit them to be doing and that this is limiting the freedoms of the Norwegian citizens.

Although, while some might be angry, others will find other ways to enjoy gambling online, such as going to the two venues that are allowed to operate: Norsk Tipping and Norsk Rikstoto. The popularity of the two is bound to rise now that their competition is off the market. And the two are more than excited to become the main Norwegian online casino bonus providers within the country. Although, on the other hand, while these seven are banned, the users might end up looking for alternative ways to enjoy themselves. More companies that the government and the authority are not aware of might end up becoming popular with the locals. As they ban the legitimate ones, more and more users are in danger of ending up with illegitimate casinos that aims to scam them, although the authority insists that the users should stick only to working with the local websites.

Lottstift was given the power to make an order to block any kind of orders as a result of the public consultation that took place in 2018. One of the first steps it took after gaining this power was to issue warnings to Betsson, Co-Gaming, GIG, and L&L in November, telling them to seize the activities they are pursuing since they were illegal. The ban that followed is believed to be the extension of that warning since the companies decided not to seize their activities and continued to provide the service to Norwegian citizens without the license to operate within the country.

This ban is also part of Lottstift’s campaign to close up all loopholes and other legal ways for companies to advertise their services to Norwegian citizens or provide services through loopholes in the legal framework.

LEAVE A REPLY

Please enter your comment!
Please enter your name here