Norway’s Horse Race Betting Monopoly to Keep Control for Another 10 Years

Norway likes to hold on its gaming trading operations in-house, so it’s no surprisal that gymnastic horse racing will relieve live controlled past a monopoly. Norsk Rikstoto testament hold in the reins on Equus caballus race betting for another 10 years following its modish coup, according to a notice on its website.

Norsk Rikstoto first appeared inward 1982 when it was created by the Norse Trotting Association (Det Norske Travelskap) and the Norwegian Jockey Club. Although it didn’t have a monopoly on the activity at first, it later gained finish control.

Norsk Tipping controls all other sports betting inward Norway, something that’s been a source of thwarting for sports betting operators the like Kindred. This unique grasp of sports betting inward the country has resulted inwards concerns that many bettors are turn to seaward options to bump meliorate deals.

Norsk Rikstoto Holds On

Norsk Tipping offered gymnastic horse run betting until 1993 when Norsk Rikstoto earned its monopoly status. In revitalizing Norsk Rikstoto’s status, Anette Trettebergstuen, the Minister of Culture and Equality, said that monopolies wee for better hold in over job gambling.

This is despite empirical evidence to the contrary. Many countries with open play and betting markets, including Espana and the UK, hold low-toned job gambling rates.

In both of these countries, studies lay the grade at to a lesser extent than 1%. In Norway, according to the National Competence Centre for Gaming Research, the order is 3.1% for mass medium risk, piece 1.4% of the population falls into the job gaming category.

The keep down could follow skewed further. Other reports designate that anyplace from 50% to 66% of the betting and gambling population uses offshore options. As such, the power to enamor consummate data on Norway’s gaming manufacture is virtually impossible.

This end was reaffirmed endure twelvemonth past Maarten Haijer, the Secretary General of the European Gaming and Betting Association (EGBA). He said that Kingdom of Norway has “lost control” of its play market as well as NOK2 billion (US$200 million) a twelvemonth in possible revenue enhancement revenue.

At the same clip that Noreg misses come out on revenue, it also fails to ply the safe gaming mechanisms it boasts of providing through its monopolistic approach. With so many gamblers and bettors using offshore options, they aren’t willing to seek help through naturalized channels. They also run for the risk of using platforms that don’t make safeguards inward place.

Norsk Rikstoto Slips

In its most recent revenue update covering the third canton of the year, Norsk Rikstoto reported an overall drib inward its performance. In 2018, the yearbook turnover was o'er NOK2.71 one million million (US$271.271 million), which is a figure that hasn’t been seen again.

The following year, turnover dropped to NOK2.56 1000000000000 (US$256.25 million), followed past NOK2.7 1000000000 (US$270.27 million) the following year. In 2021, likely a production of COVID-19, turnover dropped to NOK2.38 one million million (US$238.23 million).

This year, it climbed upward slightly, but is still down feather at NOK2.48 one million million (US$248.24 million). The says it believes it’s on rails for a track record yr in one case the finally quarter concludes.

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