European Commission Demands New Online Gambling Advertising Rules
Online casino operators and online gambling software providers should take notice that the European Commission (EU) is going to introduce a new set of rules regarding online gaming advertising. Like so, the EU will ask internet casino companies to display their advertisements with warning messages similar to those that we can find on cigarette packs.
A draft document has already been submitted in regard to this issue, which means that casino firms and online gambling software providers will soon have to modify their products in accordance with EU’s requirements. The EU has taken this decision in an effort to reduce the effects of excessive gambling behavior.
Online gambling companies that are part of the €10.5 billion European gaming industry will be encouraged to display ads that would reflect the risks of compulsive gambling and information about how to fight gambling addiction. Gaming firms will also have to post information about the chances of winning and losing, in order to offer a more accurate and transparent view of what players should expect while gambling.
Casino operators and online gambling software providers should know that this is only a recommendation from the EU, which means that it will not be legally binding. Even so, European countries could be required to tighten their regulatory frameworks in accordance with the European Commission’s request. The EU has also declared that it will ban companies that hold sponsoring events aimed at underage individuals.
Online gambling software providers and operators who start casino businesses in Europe are part of an industry that has a 15 percent growth per year and is expected to grow even more in the years to come. The European gambling industry attracts approximately 7 million users per year, and legal online gambling is expected to come to more countries soon. Portugal, for example, is expected to regulate online gambling in the near future.
BY CASINOWEBSCRIPTS PUBLISHED 18 July 2014