Over the last ten years, the world has seen an increase in betting and online gaming. In virtually every city, advertisements and billboards on online gaming have become a regular occurrence. One would wonder, what has made it a significant trend over the past few years? Online betting is a convenient way of gaming irrespective of where the player is, as long as one is on the internet. Additionally, people are betting on games that more knowledge is available. The inclusion of local games and sports in the online bets has made the game famous. Betting is a phenomenon that is appreciated by many individuals in the society due to the effects it has on its members.
Denmark has not been synonymous with online gaming for a long time. However, when online betting was introduced, many people turned on gaming as a source of extra income. Players gain lots of profits from these sites, which is a motivation to further betting. However, it is not always a sweet undertaking. There are instances when people lose money on a crazy level. Though discouraging, people in Denmark do not seem to stop betting; a phenomenon that has increased gaming profits in the second quarter of 2015.
Until 2010, Danske Spil was the only regulator of online gaming in Denmark. As seen from the inefficiencies that came with a monopoly, the country embarked on legislation that could open the market. The two-year delay is attributed to an argument brought forward by land-based operators. After the matter had reached the European Commission, it ruled in the favor of the Danish Gambling Authority.
In August 2015, Spillemyndigheden, national gambling regulatory body, announced an increase in revenue from the country’s online casino market. After making profits in the first three months of the years, the online market continued with the trend. It is a clear indication that the market for casino business is booming, with clients and partakers highly present.
In 2014, the online casino business made an estimated DDK270 million in the second quarter. However, the same period in 2015 has registered DDK335 million, an estimated $49.6 million. The second quarter’s revenue is a DDK25 million increased from the first quarters of 2015. The increased advertisement has created more awareness in the games on offer and has been an important factor. Additionally, the Danish online games have gained fame outside the country. In turn, the familiarity has made a positive effect on the profits of the online games and casinos.
A look at the online poker game reveals that revenues have been maintained at DDK40 million. The value is a significant amount of online business in Denmark. The total revenues for online games have significantly increased for last year. In 2014, the total income for the second quarter was DDK715 million. Their revenue in 2015 rose by DDK90 millions to a DDK805 million. The increase is attributed the better strategies employed to gain more clients and maintain the old ones. On the same note, there has been improved security on online betting sites. The issues of security lapses have been major in the discussions, as it poses a threat to the business. It has the potential of scaring away potential clients, for the fear of losing credit card information online. The regulatory body moved in with speed to set standards and guarantee players privacy and security of their credit card information. Increased total revenues have indicated the confidence in the system from the first quarter of 2015. The revenue rose from DDK750 million from the quarter to DDK805 million in the next quarter.
Gaming machines have also seen significant revenue increases over the last two years. It is attributed to the knowledge spread, and confidence people have gained on the subject. Therefore, the total incomes in the first and second quarter of 2015 were attributed to gains made in gaming machines. The second quarter of 2015 registered a DDK415 million revenue, and increase from DDK395 million the same period last year. The earnings indicate the first time gaming revenues have gone above DDK400 million since the second quarter of the year 2013.
The profits from the land-based casinos have also seen a significant growth from last year. The second quarter last year registered DDK85 million, a fact that has since seen an increase to DDK90 million in 2015’s most recent quarter. It sums the list of all parts on online gambling and betting that have seen commendable increases, according to the regularity body.
The online gaming sector in Denmark has been expanding in all aspects. The poker games, the gaming machines, and land-based casinos have all seen increases in revenue over the last one year. There has been no decrease in revenue comparing the last year’s quarter revenues to 2015’s. The global business of interactive gaming has received support from the Denmark officials, a fact that has made the games thrive both locally and internationally. The stability and regulation are highly attributed to the common goals that all stakeholders share in the sector.
Denmark is among the few countries in Europe that have found a formula to regulate the online gaming business and in turn, improve earnings. The year 2014 saw a two percent increase in total revenues compared to 2014. However, the increase in 2015 was way above that of 2014. The Danish authorities have decided to increase legislation on issues money laundering and tax payment efficiency.