The sports betting capitals of Europe
The massive growth of Europe's online sports betting market is primarily due to the Covid-19 pandemic. The coronavirus outbreak resulted in restriction of land-based sports betting across European countries.
Sweden, France, Italy, the United Kingdom, Spain, the Netherlands, and Finland are among the European sports betting capitals that have seen tremendous growth in the remote gambling market.
Revenue from sports betting
When it comes to the countries with the highest sports betting revenue, European countries consistently rank among the top percentile.
The European Gaming & Betting Association predicted that gross gambling revenue in Europe would increase by 7.5% by the end of 2021.
According to Statista, a German information business, sports betting accounts for the majority of Europe's total online gross gambling income.
The expansion of the sports betting sector is not homogeneous across Europe. This is due to a lack of consistency in sports betting and internet gambling regulations across European states.
Sports betting regulations
While Europe is seen as a cohesive economic bloc, each nation is free to pass its regulations and organise its gambling services.
However, each country's laws must be guided by the fundamental freedoms established by the Treaty on the Functioning of the European Union (TFEU), as explained by the EU Court of Justice.
Since the European Union does not have sector-specific legislation in the fields of sports betting or online gambling, each country's sports betting situation is unique. Some countries have a well-structured system for sports betting regulation.
Germany and Spain, for example, have state and local regulatory laws for online sports betting. Similarly, the Dutch Gaming Authority regulates sports betting sites in the Netherlands.
In Ireland, however, no regulatory framework has been implemented. The following is an overview of the present condition of sports betting capitals in several European countries:
Sweden
Sports betting is legal in Sweden as long as it is done within the framework of the country's recognized government monopolies.
While residents are required to use only government-sanctioned operators for all types of wagering, there is no explicit regulation in effect that prohibits Swedish bettors from engaging in offshore betting. The Swedish government has in fact awarded licenses to a plethora of offshore betting sites.
Although there are no penalties for betting on online offshore sites, the Swedish government has the authority and mandate to restrict offshore sportsbooks from advertising in local media. With that stated, it's a good idea to check out the Swedish betting sites listed at safebettingsites.com before you start betting.
United Kingdom
Sports betting is permitted in the United Kingdom. The country's gambling operations are governed under The United Kingdom Gambling Commission (UKGC), an executive non-departmental government organisation that supervises gaming laws in the nation.
The United Kingdom Gambling Commission (UKGC) grants operating licenses to online casinos and sportsbooks and penalizes casino operators that do not follow the established regulatory framework.
Germany
Sports betting is permitted in Germany, both online and in land-based casinos. The legal position of sports betting, on the other hand, has not always been consistent. The adoption of the Interstate Gambling Treaty was a watershed moment in the history of online gambling in Germany.
The act authorized the acquisition of state-issued online betting licenses by 20 sportsbooks. However, the European Union's Court of Justice ruled, in 2016, that the German government could neither prohibit nor penalize overseas sportsbooks from selling their services to German citizens.
However, that's with the exception for Schleswig Holstein since the repeal of the Interstate Gambling Treaty.
Italy
All kinds of gambling are outlawed in Italy, except for sports betting, lotteries, and some other activities in which the outcome is determined by the player's abilities rather than luck. However, the regulations governing internet gaming are far more permissive.
All gambling operations that are lawful under the country's penal legislation are appropriately controlled. To run sportsbooks, operators must get a state-issued license known as the AAMS certification.
Even though sports betting rules in Italy are more liberal than in other European countries, the Italian gambling sector is carefully controlled. Unlicensed ISPs are easily sanctioned, and its therefore best that you bet on licensed platforms.
Finland
Online betting is also legal in Finland on government-approved sites. A slew of offshore betting sites has also received licenses from the Swedish government.
In Finland, sports betting is regulated by government monopolies. According to the Ministry of Interior Legislative Affairs, the government has no immediate plans to ban offshore Finnish betting sites, but it is willing to make legislative changes if necessary.
France
The majority of the different forms of online sports betting were legalized in France in 2010. The French sports betting market is overseen by different bodies.
For online sports betting, businesses must get a state-issued ARJEL license (National Gaming Authority). ARJEL is an independent regulatory authority in France that oversees online sports betting.
Malta
Sports betting has been popular in Malta for generations, with the lottery being the dominating game in the 18th century after being introduced by the British.
The first lottery regulations, based on the Italian lotto, were published in 1922, and the game quickly became a weekly ritual for many Maltese, even during the grim days of World War II.
And, with the advent of the Internet, gaming truly took off, with the Public Lotto Ordinance first regulating and licensing gambling sites. Those regulations have been revised several times since then, resulting in the establishment of the Malta Gambling Authority to govern internet gaming in Malta.
You may also access nearly all online gaming and sports betting sites. And since Malta is a member of the EU, you are generally unfettered in terms of the secure online payment methods you may use when depositing and cashing out your gambling monies.
Other countries
Sports betting is also legally allowed in Spain as long as you wager on sportsbooks licensed by the Spanish National Gaming Commission.
The same legal standpoint holds in the Austrian sports betting market. While Austrian gambling rules make it difficult for operators to get licenses, the country's gambling laws do not specifically prohibit players from participating in offshore betting.
Only licensed providers are permitted to offer lotteries and sports betting in Switzerland.
Conclusion
In European sports betting capitals, the future of sports betting is predicted to increase at an exponential rate. With additional technological advancements, you will be able to place bets on your favourite sports teams straight from your phone.
