Denmark lays ground-rules for legal Daily Fantasy Sports
With approval from the European Commission, Denmark plans to modify its current legislation regarding online gaming, which will include fully legalizing daily fantasy sports.
In the past 2 years there has been significant growth in Denmark's betting and online casino market. Online gaming is expected to have expanded to just under KR7.8 billion from KR7.5 billion within a two year period. The online casino market has also experienced significant growth as well, from about KR870 million to KR1.1 billion in the same time frame. However, revenues generated from land based markets have dropped quite a bit. For instance, revenues from KR 1.8 billion to 1.5 billion and revenues from land based casinos dropped roughly KR 20 million. This would explain the need and desire of Danish officials to amend their legislation in this area with the hopes to create new markets and attract new operators.
Some of the amendments include new licensing primarily targeting daily fantasy sports operators (there will be two different levels of fees: for those who generate more than KR100 million there is a higher fee, and for those who generate less than that there will be a smaller fee). There will also be amendments that not only modify taxation but will also strengthen laws against money laundering.
Follow what's happening in the online gaming business by following iGaming Business on Twitter . For instance, you'll find that there is already growing interest in new operators expanding into Denmark with the amended legislation. SlotsMagic and Scientific games, just two examples, are already getting in on the action in Denmark. There are also affiliate programs developing in this industry, too, such as PartnerWins working with Income Access to get an affiliate program started.
If you do a query on the iGaming Business website for Denmark you will find several more articles related to the online gaming business in Denmark and how it has evolved and developed over the past few years and will give you a better picture of Denmark's interest and need to amend its legislation to keep up with the times.
Until about halfway through 2010, the gambling industry monopoly, Danske Spil, took care of all online gambling regulation. After a several month long process, the market opened January 1, 2012, which would explain such growth in a 2 year period for online gambling, and possibly explain the decline in land based gambling. So with this growth, pressures to make amendments to free up the market some are growing again and that is why Denmark is pursuing this. You can do a query on any search engine to read more about how regulated and strict the gaming industry has been in Denmark and how it is slowly evolving and opening up more and more. If US fantasy sports giants like Fanduel (read our Fanduel Review) or Draftkings (read our Draftkings Review) will enter the danish market once regulated remains open.