Types of Online Casino in Denmark
Online-casino institutions in Denmark can be classified according to various criteria. In this article, we will look at the classification of virtual institutions depending on the way business is done online in the context of the online casino industry of Denmark.
This kind of information is very useful not only for players – direct customers of virtual gambling-driven entertainment establishments, but also for webmasters and people who want to organize their business on the Internet.
The first view is thus original online-casino institutions. This type includes gaming establishments that work on unique platforms, on which no other online-casino institutions of Denmark or other countries work. Such establishments offer exclusive gambling-driven entertainment to their clients, however, the advantages of such institutions end there … These online-casino platforms are uncompetitive and offer a small range of gambling models.
Online-casino institutions that share software get a license for software from independent developers. The same license from these developers can be obtained by the owners of other virtual casinos. These casinos have the same software and identical gambling models. Such establishments differ in design, various tournaments, promotions, bonus policies and other nuances. These casinos are competitive because they offer players a wide range of popular games: online poker, roulette, slot machines, card games, lotto and sports betting.
The institutions united in groups consist of online establishments that belong to the same group of online-casino institutions. These institutions operate on the platform of the same software provider, but at the same time have various additional features: progressive jackpots, original promotions.
All of the above online-casino institutions have their advantages and disadvantages. Choose those places to play in which you feel interested, comfortable and profitable. Do not rush to immediately make real bets, first play the candy wrappers, and only after you triple you can start playing in the “real” mode.
It is also worth dividing the casinos of Denmark into browser casinos, downloadable casinos and mobile casinos.
Statistics show that mobile gambling-driven entertainment sites in Denmark are becoming increasingly popular. For many years, gambling-driven entertainment operators have noted that more than 50% of all revenue comes through mobile devices. Meanwhile, land gambling-driven establishments bring only a small part of the income of the entire industry in the country. The rest of the profits come from online gambling-driven sites via computers.
The gaming industry in Denmark is a relatively small and isolated part of the gambling-driven entertainment world, but it remains stable thanks to its strong regulated environment.
Types of Casino Games for Danish Gamblers
The current law on gambling-driven entertainment in Denmark has been in force since 2012. The main two objectives of the legislation were the liberalization of the market and the improvement of the safety of online casinos. This legislation was also the end of the monopoly that had existed since 1948. The new law allowed everyone to private online-casino institutions to participate in obtaining a license.
The legislation allows operators with a proper Danish license to offer citizens of Denmark bets on sports games and online-casino institutions. Providers can thus offer such games as roulette, blackjack, baccarat, poker and slot machines, which previously could only be done by Danske Spil as the only monopoly of the country.
Like most Europeans, the residents of Denmark also love football and bet a lot on the domestic teams of the Super League. The English Premier League is also extremely popular due to the fact that it is often shown on satellite television of Denmark (the Danes can watch 280 of the 380 matches per season).
The most popular types of gambling-driven activities in Denmark are:
- Slot machines
- Online casino
- Ground-based casinos
- Horse racing
Poker here stands alone. The fact is that sports poker is not considered a gambling-driven entertainment game in Denmark, and therefore a license is not required to organize contests.
Poker as a gambling game, especially in its online form, has been popular in Denmark since the beginning of the 2000s. The main factor of popularity is the success of Danish Gustav (Gus) Hansen, winner of the World Series of Poker gold bracelet (WSOP), three-time winner of the World Poker Tour (WPT), who collected prizes worth USD 9 million in less than 10 years. Not surprisingly, small Denmark ranks 25th in the WSOP.
Online Gambling Laws and Regulations in Denmark
Gambling-driven business in Denmark is legalized and regulated by law. The main document regulating the work of companies in Denmark supplying gambling-driven entertainment services is the Gambling Act. The activities of casinos are controlled by the Gambling Authority of Denmark. The Department of the Ministry of Justice legalizes the work of national operators and actively cooperates with foreign companies, providing Danish licenses to trusted firms.
Until January 1, 2012, the state-owned company Danske Spil was the only one who owned a license to organize and conduct bets. The rest of the Danish and foreign companies were not allowed to offer gambling-driven entertainment and sports betting in Denmark. But the government of Denmark was forced to change this state of affairs, as the legislation did not work properly, and over 400 sports betting websites took bets from the Danes. Many resources even offered Danish language to make it easier for users to place bets.
Despite the loss of exclusive rights to organize and conduct gambling, revenues of the Danske Spil company increased significantly after the change of legislation of Denmark, and now it is divided into two companies: Danske Lotteri Spil and Danske Licens Spil. The latter covers the online gambling-driven entertainment sector and has recently recorded an increase in revenue compared to previous years.
Today there is a law that was passed by Denmark in 2012. This act in the country enshrines a certain departure from the state-owned corporation Danske Spil, which is implemented by lifting restrictions on certain types of gambling-driven entertainment for private business. For example, this refers to bookmakers and online casino providers.
The state left the licensing issue. Moreover, it must pass both private companies and Danske Spil, the operator, which is one hundred percent owned by Denmark. Every year, all subjects in Denmark undergo a license confirmation with a clear and comprehensive list of games.
Secondly, Denmark carefully regulates the amount of advertising. As well as its authors: the fact is that a licensed operator gets the right to advertise products, but at the same time it cannot use the services of third parties and cannot invite famous people to shoot. Mandatory requirement – the information should be as realistic as possible, especially in assessing the chances of winning.
Thirdly, financial control is constantly carried out. Primary verification is a prerequisite for issuing a license in Denmark, but at the same time, auditors can come back at any time. Gambling-driven entertainment services are profitable, but associated with high taxes. There are two of them: first, a profit tax that is charged (up to 4 million krones, 45% is paid, then – 75%, but this refers to land-based casinos, online establishments deduct 20%), then a corporate tax of 25% on the remaining amount. Money in Denmark goes mainly for cultural and sports development.
Statistics show that even after legal demonopolization, the government organizations of Denmark are still seriously represented in the gaming market. If we talk about the most popular areas, namely stakes, casinos and slot machines, the share exceeds 60 percent. And the Danske Lotteri Spil remains the main subject of the market.
Interesting is also the ROFUS project. This is a special registry that is created and maintained by the royal gambling-driven board of Denmark. It is aimed at combating gambling-driven entertainment addiction and consists of voluntarily excluded players, that is, those citizens of Denmark who have decided to protect themselves from further participation in gambling. After registration (and it is strictly voluntary), access to online games and / or bets is automatically closed. The participant can set himself / herself a period of abstinence or decide that it should be permanent. In the second case, only a year later, the person himself / herself, through a special petition in writing can ask the Office to exclude him / her from the registry.
Best Deposit Methods for Danish Gamblers
It’s no secret that today electronic money and credit cards are at the peak of their popularity in Denmark. Electronic payment systems are used for settlements between organizations and users when buying / selling goods and services on the Internet. The functioning of such systems requires the willingness of sellers to accept electronic money as payment. Traditional systems allow payments in Denmark by cash, bank transfer, cash on delivery or mail order. Electronic money, which is the main tool for promising e-commerce, has many advantages over traditional payment methods.
The Danish online economy is formed mainly through credit and partially debit cards. Only 14% of Danes have an electronic wallet (with an average of 19% as for Western Europe). A quarter of gamblers use bank transfers to pay, and 12% use cash. This way, 46% of online activities are paid by cards. The most popular online payment service in Denmark is Edankort. Its market share is 39%.
Thus, other payment methods that Danes prefer include a credit / debit card, bank card (2Checkout, Authorize.net, Braintree, Worldpay, Skrill, Paymill), credit / debit card Paypal, pay by prepaid card, credit / debit card, bank transfer online: (Quickpay, SEPA), and payment of invoices (Klarna).
The residents of Denmark sometimes also prefer PayPal and Moneybookers.
PayPal is the most common and popular payment system in the world. It is developing dynamically. In the future, PayPal is ready to pay interest for keeping money in the account. The system has reliable protection. However, the use of this convenient system is associated with great limitations.
Moneybookers is a convenient payment system. It makes it possible to quite simply replenish your account and provides a simple withdrawal of funds in the bank or allows you to exchange for WebMoney. Like other payment systems abroad, Moneybookers requires the players of Denmark to enter personal information and confirm it, and this allows you to use the system without any restrictions.
Advantages of Moneybookers include a small commission (it is 1% of the amount of the payment made, but not more than 0.5 euro), the minimum amount of transfer (it is 1 euro cent). Due to this, its popularity is growing rapidly.
American Express, Diners Club, MasterCard and Visa credit cards are also accepted for payment almost everywhere.
Accepted Currencies in Denmark
The monetary unit of Denmark is still not the euro, as in all the neighboring countries – members of the European Union, but the Danish krone, equal to the 100 era. The issue of the coin, according to the constitution of the country, is the prerogative of the queen. At one time, Sweyn Forkbeard gave Denmark the first coin, on which the name of the country and the name of the king were stamped. Now the reverse of all coins traditionally bears the image of the monarch – Queen Margrethe II.
The Danish krone DKK (208) is the national currency of Denmark, being also in circulation in Greenland and the Faroe Islands.
It was first put into circulation in 1873. Currently, there are banknotes in denominations of 50, 100, 200, 500 and 1000 Danish krones and coins in denominations of 50 era, 1, 2, 5, 10 and 20 krones.
Until the end of the 18th century, the krone was equal to 8 marks at par. A new krone appeared in Denmark in 1873. Two krones constituted one riksdaler. The krone appeared as a result of the formation of the Scandinavian Monetary Union, which survived until the First World War. The initial participants of the monetary union were Sweden and Denmark, two years later Norway joined them. The krone was provided with gold: 2480 krones was 1 kg of pure gold.
In Denmark and Norway, the currency was called “krone” (see “Norwegian krone”), and in Sweden – “krona”. After the collapse of the monetary union, Denmark, Norway and Sweden decided not to change the names of their currency.
The Scandinavian Monetary Union collapsed in 1914, when the gold standard was abolished. Denmark returned to the gold standard in 1924, but again abandoned it in 1931. In 1940–45, the krone was tied to the German currency. After the end of the German occupation, 24 krones were equal to 1 British pound, but in August of the same year, the ratio fell to 19.34 (4.8 krones = 1 US dollar). As part of the Bretton Woods system, Denmark devalued its currency in 1949. 6.91 krone was one dollar. A further devaluation in 1967 led to a ratio of 7.5 DKK / USD, 18 DKK / pound.
Since 2009, the National Bank of Denmark has been replacing a series of 1997 banknotes with a new one, the subject of which are Danish bridges and archaeological finds (artifacts) found in Denmark. On August 11, 2009 there was issued a banknote of 50 kroons.
The National Bank also exchanges notes of earlier issues: 1945, 1952-1964 and 1972.
Denmark did not adopt the Maastricht Convention, which allowed the country to preserve its currency when most of the EU in 1999 switched to the euro. According to the results of the referendum held in 2000, the country refused to accept the euro. The liberal-conservative government of Anders Fogh Rasmussen planned to hold another referendum in 2004, but the plan was not carried out because the polls did not show support for the euro. The government still wants to introduce the euro in Denmark.
The ratio of krones to euros is supported by the European currency exchange rate regulation mechanism in Denmark. Before the advent of the euro, the krone was connected with the German mark, which should have made it stable.
Predictions About the Future of Online Gambling in Denmark
Gambling-driven entertainment in Denmark began to flourish after the introduction of new laws.
However, the government is doing everything possible to prohibit unlicensed overseas gambling-driven websites from providing services to Danes. This led to the fact that in 2012 57 sites were blacklisted.
Not surprisingly, after decades of gambling-driven entertainment monopoly in Denmark, Danske Spil still owns more than half of the market. It should take a little time before other players can compete with the bookmaker, whose services are used to use the majority of the population of Denmark.
Also, the Gambling Authority of Denmark designates the immediate goals and prospects for the development of the gambling-driven entertainment market. Representatives of the management report that they will continue to interact with national and foreign operators of gambling-driven entertainment in Denmark. The measures established by the legislation of Denmark will be taken to prevent the work of illegal establishments and the illegal supply of gambling-driven games of foreign operators.
To prevent ludomania and create a healthy consumer environment, the Danish Gambling Authority plans to hold a series of educational lectures at schools, universities and sports clubs of Denmark. Also an important part of the regulation of gambling-driven entertainment addiction management is called ROFUS. Clients who have registered on the list are blocked from accessing online gambling-driven entertainment sites and betting sites – temporarily or permanently.
Thus, among the main priorities of the government’s activity of Denmark this year is the problem of ludomania. According to the data, the number of addictive players in Denmark has grown by 46%, and now there are more than 12,000 users of online gambling-driven entertainment sites in Denmark who have used the self-exclusion scheme. Note that this system, which involves blocking a potentially dependent player from visiting gambling-driven entertainment sites on a voluntary basis, is used very effectively in many countries, and in Denmark too.
Commenting on the strategy for the next year, the government of Denmark emphasized that the best way to maintain a healthy atmosphere in the country’s gambling-driven entertainment market is the joint responsibility of all parties.