What Can European Markets Learn from the Online Casino Industry in New Zealand and Australia?
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There may be a crackdown on unlicensed Australian sites. The estimated size of the online GGY in the Asia-Pacific region is between $65 billion and $90 billion per year.
The European iGaming market features 27 members of the single bloc. They operate completely different laws when it comes to online gambling. Australia and New Zealand operate a clear and singular regulatory framework. They are accountable to identifiable and omnipotent regulatory bodies. Any licensed online casino in New Zealander is subject to the Gambling Act of 2003. In Australia, stakeholders are also subject. to Interactive Gabbling Act.
There is no clear approach to the use of credit cards by online gamblers in Europe. Germany has already banned this practice. Australia is investigating the issue and hopes to introduce a law that would ban the practice completely. Spain is considering a similar law, but it's not yet been formally enacted. There's a lack of consensus on the matter in European markets. This may be due to uncertainty and the various counter-arguments put forward by the European Betting and Gaming Association.
There are some clear takeaways from the study of the iGaming industry in Australia and New Zealand. Europe's regulatory approach is disorganised and there is no standardised framework. The European Commission has pledged to help single bloc countries create greater cooperation amongst national regulators.
