The worldwide online gambling market is booming. Over the course of the past few years, we have seen huge growth in the number of players at online casinos, poker sites and betting shops. As Europe is home to some of the most biggest growth in the online gambling market, the European Union (EU) plans to introduce stricter regulations. Europe is certainly one of the biggest online gambling hubs in the world.
In 2012, 7 million players from across Europe played online casino games and poker, and placed bets at online bookmakers. They account for 45% of the world’s online gambling population, and their market share is worth nearly $15 billion. Along with the huge growth of the market, it is important for tighter restrictions to be introduced.
As online gambling becomes more popular, problem gambling and underage gambling rates are likely to increase. As such, the EU is making plans to prevent this negative effects. "We must better protect all citizens, and in particular our children, from the risks associated with gambling," says Michel Barnier, Internal Market and Services Commission for the EU.
Consumer protection is the focus of the new regulations. EU representatives are considering introducing clearer warnings on websites to let players know the potential dangers of gambling online. They would also like to introduce stricter registration processes to prevent underage players from gaining access to online gambling sites.
"We now look to the member states, but also to online gambling operators, to match our ambition for a high level of consumer protection throughout the EU in this fast growing digital sector," Mr Barnier continues. It is up to member states across the EU to work together to come up with new regulations that will better protect players in the online gambling market.
There is still plenty more work to be done, as the EU considers stricter regulations and implements these new rules for players across Europe.
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