IBIA and NBO sign MoU to promote licensing and regulation in Norway

Updated:2024-03-25 14:36    Views:80

The International Betting Integrity Association (IBIA) and the Norwegian Industry Association for Online Gaming (NBO) have signed a Memorandum of Understanding (MoU), in a bid to promote safe and effective gambling regulation and licensing across Norway. 

Norway currently implements a monopoly system for gambling operations, instead of offering licences, as is common in other nations in Scandinavia and wider Europe. A report from H2 Gambling Capital predicted that 43% of Norway’s online gaming revenue would be made offshore this year, with NBO General Secretary Carl Fredrik Stenstrøm stating: “Increasingly strong signals indicate that the Norwegian monopoly is not the most effective solution for consumer protection or industry integrity.” 

Neighbouring Finland is currently in the process of deconstructing its monopoly system in favour of offering licences, with European Gaming and Betting Association (EGBA) Secretary General Maarten Haijer calling the move “a welcome step towards meaningful and overdue gambling reform in Finland,” which “would provide greater choice and safeguards to Finnish consumers, ensure fairer competition between operators and enable the Finnish authorities to have greater control over their online gambling market.” 

Stenstrøm continued: “Betting is a fully digital and international service that cannot be confined to local peculiarities. To establish the best possible framework,wild lava slot the gambling offering must be viewed comprehensively and regulated accordingly. 

“The partnership between NBO and IBIA ensures a concerted effort to address responsible practices and supporting initiatives aimed at minimising the impact of gambling-related harm.” 

IBIA CEO Khalid Ali echoed this sentiment, stating: “IBIA welcomes the establishment of an MoU with the NBO... The lack of licencing for responsible regulated betting operators in Norway hinders market oversight, consumer protection and the implementation of effective sports betting integrity provisions.” 

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