How Big is the Norwegian Online Betting Market in 2020?
August 19, 2020
Norway is home to roughly 2.2 million gamblers according to the country’s Lottery Authority. In 2017, this community spent €4.6 billion primarily through the country’s only sports betting site: Norks Tipping.
Norwegians wagered another €1 billion on foreign betting websites in 2017, prompting some local politicians to advocate for a legal gambling market. In 2020, Norway’s online gambling industry is even bigger albeit highly restricted. Here are the reasons why.
The first gambling act in Norway was established in 1927. Known as the Totalisator Act, this law was introduced to control the horse racing industry. It required one operator, Norsk Rikstoto, to get a license to provide horse race betting markets.
The second gambling law—Gaming Scheme Act of 1992—authorized Norsk Tipping to offer casino games to Norwegians exclusively. It has a website and app that makes it easy to bet. It acts as a monopoly, though, meaning it doesn’t offer as competitive services as some foreign companies.
The final betting act was introduced in 1995 to form a lottery authority. This organization’s goal is to licenses private companies interested in running lotto schemes. However, there’s a vital rule. These organizations must donate most of their profits to charities.
Norway’s Offshore Betting Sites
Although Norsk Tipping is a dominant force, it’s not the only betting site you can use for betting in Norway. It’s also not the best company to use if you’re looking for a smooth, quality betting experience. Here’s why.
When you think about, the best way to achieve your betting goals is to follow high-quality odds. They give you better returns in the long run. Luckily, Norwegians have quite a variety of bookies with competitive odds offshore.
Norsk Tipping isn’t entirely terrible with odds. But more often than not, you can find an overseas bookmaker with better odds.
Sports Betting Markets
This is one of the areas where Norsk Tipping shines. It offers a significant range of betting markets from Europe’s top sports. From football and hockey to handball and boxing, there’s always something to predict on the website.
The company has its limits, though. For example, it doesn’t feature many North American sports and doesn’t offer comprehensive wager types. And here’s where foreign betting companies beats the domestic bookmaker.
If you like to bet on sports from all over the world, you’re better off at a European bookie like Betway or Betsson. Again, you’ll get in depth wagers so that you can predict just about any outcome in a sports game.
There was a time when Norwegians struggled to find a bookie that gave them bonuses. Those days are gone and for the best. If you’re an adult and want to bet online, you can claim a bonus worth up to 1500Kr.
The bonus is worth real money, so you can use it to bet on football or hockey. But as always, you can expect some terms and conditions. For example, you can only bet on games with odds 1.50 and above or you have to wager the bonus through.
Note: the best bookies give out bonuses to both new and regular customers. That means you don’t get 1000Kr and that’s it. If you join top-rated companies, you’ll get free bets nearly every week.
The Norwegian government has declared war on offshore betting sites many times for two reasons: taxes and online safety. Sure enough, most foreign bookmakers don’t pay taxes in Norway even though they serve Norwegians.
Concerning safety, however, there’s no reason to be afraid of offshore bookmakers. Most of them have licenses that show they operate legally. They are governed by European data privacy laws and have safety measures to protect players.
As such, you can be confident that your data is safe when you deposit or bet on Malta and British betting sites. If you’re doubtful about any company, though, read its reviews. You’ll get a better overview about a bookie from past and present customers.
Every Norwegian bettor wants to deposit, play and withdraw their money from betting sites smoothly. And that’s what the best-rated companies offer these days. There are no excuses, delays or dilly-dallying.
With the best bookies, depositing money takes less than five minutes. You can use an e-wallets like Skrill or PayPal. Or you can choose your credit card. Next is to bet on games. If you win, the house updates your cash balance instantly.
You can deposit as little as $10 on many Nordic betting sites. If you claim a 100% bonus, you’ll get an extra $100. The maximum you can deposit and wager varies from one operator to another but can be up to $20,000.
Intuitive Betting Apps
Some Nordic betting sites have apps with irresistible features: in-play, sports streaming, ACCA boosts and partial withdrawals. In-play betting lets you wager on games while they happen. It’s an exciting albeit risky affair.
A streaming service, in contrast, allows you to watch various football and hockey games through your betting app. On the flip side, boosts magnify your profits while partial-withdrawals let you cash out before games are over.
Of course, it’s not just about the cool features. The best betting companies have overall user-friendly betting interfaces. Everything from selecting games to managing your slip is intuitive.
Caring Customer Service
Let’s face it. Betting sites can’t provide a 100% smooth betting experience 24/7. Sometimes things go wrong: a website crashing or a payment getting delayed. During these times, the best companies show their grace through customer service.
You get notified when there’s a problem with the betting app or payment system. Again, support staff respond quickly to queries and provide a helpful solution. Usually, you can contact betting websites through emails, phone calls or chatbots.
Chatbots offer the best easiest way to ask for assistance. But as mentioned, you must use a top-rated company if you want reliable service. They are more likely to show support when you need it than poorly rated bookies.