Online gambling is enjoying a period of unprecedented popularity. The widespread availability of smartphones and increased internet penetration means it’s now easier than ever for people to access iGaming platforms, and as a result, we’re seeing a spike in the launch of newly regulated markets. According to industry experts, an Austrian online gambling market could be the next on the list.
This is exciting news for players and operators across Europe. However, there are certain factors that could influence the final outcome, and the country’s unique political situation could complicate things. Let’s explore the Austrian online gambling market in more detail.
A New Government
Following elections in the country last year, two of Austria’s major political parties are currently in talks to form a coalition government. While this is a dynamic, rapidly changing situation, it’s widely believed that an Austrian online gambling market will be on the table once the parties have formed a working administration.
Previous governments in Austria have proposed the idea of a regulated gambling market but were unable to garner enough support to push through the legislation. However, experts believe now could be the time, not least because any new government would desperately need the revenue a gambling market would offer to balance the budget.
Current Gambling Laws in Austria
Unlike other countries in Europe and around the world, Austria has a monopoly on gambling. The country’s only online gambling licence was granted to Casinos Austria in 2012, and this licence is valid until 2027.
However, this model has faced criticism. Some experts claim that the monopoly has allowed black and grey markets to flourish and that a multi-licence model will offer far more effective player protection opportunities. With a regulated market, the government could impose stringent protective measures to mitigate the effects of gambling-related harm, something that is far more difficult to do when dealing with black or grey market operators.
What is the Industry Saying?
Unsurprisingly, the iGaming industry has voiced full support for a regulated Austrian online gambling market. They have pointed to other countries in Europe that successfully operate under a multi-licence model and have highlighted the revenue opportunities such a model can bring. By offering licences to private operators, Austria will be able to attract international investment and give a significant boost to the country’s economy.
Industry figures are calling for the government to establish a new regulatory body that will be responsible for assessing licence applications and distributing licences to successful operators. Such a body would bring in Austria in line with other countries that use a similar multi-licence model.
What Does the Future Hold?
The current Austrian political climate is volatile, and nobody is quite sure what is going to happen next. Despite this uncertainty, however, industry experts appear relatively confident that we could see a regulated Austrian online gambling market launched within the year.
What this market might look like, is not yet clear. There will be lots of details to thrash out, and we can expect lots of talk, debate and discussion before any legislation is put forward. Nothing is concrete yet, but the future looks bright for gambling in Austria.
