Globally, the igaming market is one of the fast-growing industries. After covid, Dutch gambling has transformed incredibly into a legal market offering various opportunities.
With time, people are enjoying better games and chances to win more. However, what about the overall financial growth of Dutch online casinos?
Before 2021, playing online gambling in the Netherlands was illegal. People used to gamble online using their VPNs. But now, anyone can be a part of legal online casinos. From the beginning, the field has been growing consistently. Even Holland Casino (Dutch state-owned company) has reported a solid financial recovery report of their online gambling. The report shows a successful turnover of around $351 billion in the first six months of 2022.
Let’s get more into the financial and overall growth of Dutch igaming:
Online Legalisation Of Dutch Gambling
Previously, online gambling was not legal in the Netherlands. After many pushes to the final legalisation on 1 April 2021, the Remote Gambling Act (KOA) was enacted. It allowed the gambling market to get open in the next six months. Later on 1 October 2021, remote gambling was officially legal.
There were two main reasons to legalise online gambling in the Netherlands:
- The first reason is that it was becoming impossible to ban online gambling because people were playing it illegally.
- The second reason was that the consumers would be protected against fraud and abuses after legalisation and regulations.
After the official approval of remote gambling, Dutch regulator Kansspelautoriteit (KSA) made some announcements. One was to take disciplinary action against the operators offering gaming services without a licence. Even they fined Tipico €531,250 in 2021 for illegally offering gambling in the country.
Current Growth In Dutch iGaming
When Dutch gambling got legalised, the growth was seen in terms of “popularity” and “money.” Initially, the main reason for getting popular was the removal of language barriers. Now, the games available online are easy to understand by anyone.
Even when Unibet (an online gambling operator) left the Dutch gambling market, they said it would lose €144 million annually. However, the Dutch players made a profit of around €840 million for every echt geld online casino in 2021. It was almost €60% more than the expected profits in the gambling market.
But during the first year, mostly the money was spent illegally. The main reason was that online casinos could not advertise, sponsor, or promote their gaming services. After the legalisation, casinos can freely advertise and promote their services.
Now, let’s know about the main part of online gambling where Dutch gambling successfully grew. As we can see, many online casino players switch to licensed platforms after the legalisation of remote gambling. But the number of players stayed the same even after advertising the gaming services.
The area where people took more interest is “Sports Betting.” Not only did the number of bettors increase, but the revenue of sports betting also increased. According to a report by the sportsbook software provider Altenar, the betting turnover has escalated. In 2019 it was $26 billion and went up to $36 billion in 2021.
Expectations are not going down according to the report of Altenar. It is estimated that the total revenue by 2026 could be $52 billion. Moreover, the sports betting market might double in the next seven years.
The future expectations from the Dutch igaming market are high as the Dutch players are happy spenders. They will continue to play on the licensed and trusted platforms with better offers and bonuses. In the coming years, we can say that online casinos will make the interfaces and experience more interesting for the players.
Besides, as sports betting is still popular we can expect its expansion. It will allow the operators to gain more profit and build strong relationships with their consumers. The online gambling market is segmented in three manners:
- Game Type: Betting, Casino, Online Bingo, Poker, Lottery, etc.
- Devices: Desktop, Mobiles, and others.
- Components: Software and services.
Hence, the remote gambling service providers will keep improving their platforms to attract more players. It will allow them to generate more revenue. One thing that is still unwanted by consumers is the advertisements.
So, there might be the possibility that the government or other legal authorities can make rules. The regulations can apply the ban on the advertisements or ban them for the players’ convenience.
In The End
Lastly, we can say that Dutch igaming is growing consistently. There is not an end to it for many years. Many operators are joining and rejoining the business to make profits. Online casinos can offer more innovative gaming services because now online gambling is officially legal. Moreover, the players are becoming more interested in gambling online with secure and licensed platforms.
Therefore, Dutch gambling will continue to see success. The growth will be in every way, but money is the main factor. Until now, the growth is straight, and the operators and government also expect it to keep increasing.