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Is sports betting legal in Norway?

The most recent law from 2010 says that there is no problem betting over the internet, as long as they are located in another country.

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According to the three gambling regulations in Norway, Totalisator Act, The Gaming Scheme Act, and The Lottery Act, betting. Betting on the internet, however, is a whole other case! The most recent law from 2010 says that there is no problem betting over the internet, as long as they are located in another country.

It is however illegal for Norwegian banks to transfer money directly to casinos or betting companies, that is why this always goes through third parties such as Skrill or PayPal.

Unlicensed foreign betting enterprises and their affiliates in Norway are now subject to stricter regulations under a new Gambling Law adopted by Norway’s Ministry of Culture.

Described as a “milestone” by Norway’s Minister of Culture and Gender Equality, Abid Raja, the new bill intends to integrate the country’s scattered gaming legislation on June 18. This legislation is designed to replace the current three gambling laws in Norway and govern ‘all aspects of gaming in Norway’.

The 1995 Lottery Act, the 1992 Gambling Act, and the 1927 Totalisator Act have traditionally governed Norway’s regulated betting business, but the new act intends to consolidate these three pieces of legislation into a single unified legislative and regulatory framework.

In June 2020, Raja suggested to Norway’s Stortinget parliamentary assembly that the country’s gambling laws be overhauled in order to consolidate government control of regulated betting and gaming.

Unlicensed gambling companies will not be allowed to operate in Norway, according to new regulations from the country’s minister of finance, who has bolstered the current rights model in which state lottery Norsk Tipping and racing betting operator Norsk Rikstoto hold exclusive rights for high-risk gambling products.

In addition, the updated legislation sought to improve some of the best online betting sites with inefficiencies in the governance of Norway’s incumbent monopolies, which are monitored by the Lottery Committee, Ministry of Culture, and Ministry of Agriculture and Food. This goal was initially mentioned in 2014. Finally, “I am glad to announce the new gaming law, which is a significant step forward in the government’s efforts to avoid gambling issues and ensure responsible gambling,” Raja said.

Foreign gaming businesses who do not abide by Norwegian legislation and do not adhere to basic accountability procedures are becoming more tiresome to us.” To put it another way: The new legislation offers the Norwegian Lotteries Authority additional instruments for recognizing, responding to, and punishing infractions of the law. Additionally, the ability to levy penalties for violations is included.”

Safebettingsites is providing an informative guide of the best online betting sites in Norway, so whether you wish to bet on the domestic Eliteserien, Winter Olympics, or Formula 1 racing, they got you are covered by outlining the best betting sites for bonuses, Esports, and mobile wagering. They have passed rigorous testing to ensure your safety and the security of your data.

Gambling companies in Norway are now required to establish “the essential accountability measures,” while a general prohibition on credit games is also in place to prevent financial difficulties, according to the new legislation.

A provision deeming the advertising of gambling to minors a criminal offence has also curtailed marketing efforts, requiring operators to ‘not go beyond what is necessary to entice players to the lawful gaming offerings’.

In addition, it has been deemed prohibited to promote gambling products or services directly to ‘those who have reserved themselves against this with the gambling provider,’ i.e., those who have self-excluded themselves from any betting or gaming products or promotions.

“Things are occurring in the gaming industry in Norway,” Raja said. Gambling policy has been a government priority for many years, and it has paid off. ” The Norwegian gaming sector is shrinking as foreign gambling enterprises and their payment intermediaries leave the country. This is the direct outcome of a well-defined and effective policy in the area.”

BETTING TAXES IN NORWAY

Regarding betting, taxes have been a never-ending question that people never seem to fully understand. It might seem complicated at first, but that doesn’t necessarily mean it has to be, let’s simplify it for you. The main rule is that if you win a bet that exceeds 10,000 NOK* (kr) in profits, you will be taxed 28%.

For example, let’s say the odds on Leeds United to beat Liverpool away in the FA Cup are 5.0, and you put 5,000 kr on Leeds. Let’s say they win, and you win 20,000 kr (5,000 kr x 5.0 = 25,000 kr, 25.000 kr – 5000 kr (your own money))= 20,000 kr), that means you will be taxed 28% of your winnings, which in this case would be 20,000 kr x 0,28 = 5600 kr.

If your winnings on a single bet is 20,000 kr, you have to tax 5600 kr of them, and you will only be left with 14,400 kr (20,000 kr – 5600 kr = 14,400 kr).

Remember that this rule only applies when you make over 10,000 kr on one bet, which means you can win 9,999 kr on every bet you make, without having to pay taxes.

There is one exception though; If you bet through one of the state-owned companies, there are no requirements to pay tax and all winnings are entirely tax-free!

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