Amid the fallout of the Brexit, another much speculated upon event of potentially huge consequence has taken place after years of stops and starts--for the good of iGaming.
As of Thursday, the lower house of the Dutch Parliament has finally passed the Netherlands' first bill to regulate online gaming.
Implementation is still pending full approval by the Dutch Senate later in the year, which still would keep the online gambling market on track for opening in the cash-heavy country by the start of 2017.
Key new provisions to the approved bill include prohibitions on lotteries as well as the use of existing player databases by land-based operators to promote online offerings.
Stricter protections will also be placed on existing land-based companies, including physical entry and player identification barriers, and a new mandate to contribute to a problem gambling fund.
Revenue Engineers co-founder Jaspar Hoekert commented on the news with delight, saying that “While there are some aspects of the legislation which are not ideal, this is still a very workable framework and I am confident that the Netherlands will quickly emerge as one of Europe’s most important gaming jurisdictions.”
In the Works
The approval was indeed a triumph for all 16 gaming experts serving on the Revenue Engineers staff, with the Amsterdam organization having already worked with other local and global clients as consultants on regulation. Word is that Revenue Engineers already has joint ventures and international partnerships in development for the Netherlands market as well.
The reason the Dutch passage is of note to iGaming is because of the society's reputation for incorporating ideals into its social infrastructure and programming. After over two years of adaptations and various bills passing through for consideration, the achievement of a workable model up to Dutch standards can remove more stigma regarding gambling, as well as potentially provide a leading online revenue model for passing along the benefits of iGaming take to the people most effectively.
The passage took some prodding from the EU, which suggested to the meticulous Dutch legislators to resolve all lingering debates by creating the clearest market conditions for new entrants as possible. As the EU iGaming regulatory authority crosses off the British contribution, the welcoming of the Netherlands softens the blow considerably.