What Impact Will Gambling Have On The Economy?
We can conclude that the world is in a huge recession with the current pandemic. Many companies are going out of business and more and more companies are hanging upside down thanks to the corona crisis. In times of bad economy and a little perspective, the online casino market appears to reap its benefits, but what does it ultimately bring for the Dutch state?
The share of the Dutch state
At the moment, the state levies various taxes on various gambling games in order to fill the state treasury. You have to think of the state lottery, which is good for a turnover of 1,100 million euros, and the postcode lottery that hops behind it with the amount of 715 million euros. Furthermore, the Holland casino will contribute about 600 million to the annual turnover, yet the Dutch state is missing a lot these days. The new legislation will bring about a change in the Dutch online casino market and this is necessary because most Dutch players move abroad. Now there is the possibility to gamble at many online gambling platforms that are mainly located in Malta. For the time being, it is the only legal way to gamble as a Dutch person at a casino without an account and at various online live casinos like live slot malaysia. These companies are springing up like mushrooms and are supported with licenses such as (Malta Gaming Authority). The worldwide turnover of online casinos amounts to 58 trillion euros and is growing by 13% annually. No wonder that the Dutch state wants to benefit from this, but this is taking a very long time and in the meantime, the other countries are eagerly earning from this emerging trend.
The future perspective
The corona crisis has ensured that we are all at home and the end is not yet in sight. Several restaurants, bars, and also casinos are off-limits at the moment and that is precisely why there is an increase in new players at online casinos. From June 2021, the new gambling legislation should be passed and online casinos can operate legally in the Netherlands. The process to obtain the required permit is already in full swing and will generate approximately 170 million euros per year in terms of turnover for the Dutch state treasury. In addition, various bets on sports competitions are also allowed and the Dutch economy will reap its benefits. There is no need to go to shady foreign websites and because of this Dutch players will spend more in the cold frog country. There is also an increase in gambling addiction. There are about 80,000 people who daily struggle with this phenomenon and cost the Dutch state a large amount of money. The new regulations will give this a new slant to bring this figure down. The Holland Casino will also have to believe in a facelift to guarantee the continuity of the company.
Ultimately, after much deliberation, the economy will be positively stimulated with the Dutch online casinos. However, we also hope that a network will be set up to bring online gamblers together to increase social contact during this difficult period of isolation.