Currently, Holland Casino is the only casino in the Netherlands that can legally offer casino games thanks to a license. This is because the law determines who may and may not engage in the business of organizing games of chance.
Continue reading below if you want to know everything about Holland Casino and the law.
Holland Casino and the Law
Each country has certain rules to prevent gambling addiction, money laundering and other risks. These rules vary from country to country. In the Netherlands, the Dutch Gambling Act (Wet op Kansspelen, WoK) is the one that can determine who can legally offer gambling games.
To date, it is not yet possible for an online casino in the Netherlands to apply for a license. According to strict Dutch legislation, only Holland Casino is allowed to offer casino games. Lotteries and gambling halls are legal, but these are also subject to rigorous conditions. In a gambling hall, everything is automated. This includes the roulette and blackjack games. Jack’s Casino is an example of a well-known gambling hall provider.
The Importance of Casino Legislation
Casino legislation is essential for optimal supervision of the players. This way, gambling addiction can be quickly detected and dealt with. This involves paying close attention to the behaviour of each player inside the casino. The casino will address the player when symptoms are detected.
A casino law is also important in allowing players to set their own maximum deposit limits per day, week, or month. In addition, players can exclude themselves from an online casino, and certain software can be used to address extreme gambling behaviour promptly.
The Law on Gaming
The Law on Gaming determines who may organize games of chance and who may not. Almost always, it is necessary to first apply for a license. In addition, a percentage of the profit must be spent on charity. The Games of Chance Authority is the body that supervises the Games of Chance Act. The gaming authority acts as an independent regulator and ensures a well-regulated range of games so you can gamble reliably in the casino.
Money laundering and terrorist financing
The idea is that the Gaming Authority keeps a close eye on Holland Casino within the framework of the ‘Prevention of Money Laundering and Terrorist Financing Act’ (Wwft). This has been implemented in this way since 2016. This law states, among other things, that the providers must carry out customer due diligence and that it is mandatory to report unusual transactions.
A Limited Number of Providers
There may only be a limited number of providers of games of chance in the Netherlands. The Ministry of Security and Justice has determined that no casino can obtain a license, and there are stringent requirements for the license application. The only ones with an official license are Holland Casino, the National Postcode Lottery, the State Lottery, De Lotto and Sponsorbingo. As of mid-2021, this will change.
As a customer, you do not have to worry about paying gambling tax to the tax authorities. At Holland Casino, this tax has already been paid by another independent party. In this way, Holland Casino is trying to make it as easy as possible for its customers. By law, 30.1% gaming tax must be paid on all cash prizes of at least €499.
Legislation in the Future
The old legislation is still in force, whereby only Holland Casino is licensed to play games of chance in the Netherlands. Holland Casino thus enjoys an exciting and advantageous monopoly position. As of 2021, all online casinos that meet certain strict requirements will be able to legally apply for a license to organize games of chance in the Netherlands. The new legislation has already been passed by the Dutch Parliament, although it has taken some time. The law is adjusted to protect players even more against the dangers of (online) gambling.
Holland Casino’s Monopoly Position and the New Legislation
With the introduction of the new legislation, the monopoly position of Holland Casino in the Netherlands will change. This may have both good and bad consequences. Holland Casino will no longer be the only legal casino with a license. Many other casinos have been waiting in line to apply for a license to operate as legal online casinos in the Netherlands.
This is a nice development for customers, as they can gamble legally online at different casinos instead of only at the Holland Casino. The range of games on offer will be much wider, and they will be able to change casinos at their convenience. For the Holland Casino, however, this means big risk.
Many customers will also go to other casinos since the choice between the various major competitors will now become much greater.
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Last Updated on September 26, 2021 by