Europe is the birthplace of nearly all classic casino games from Spanish 21 to European roulette. In fact, even the American game of poker originated from the French game of Poque. Despite all that history, the entire European gambling industry was crippled due to bans for a long time. The Danes have always had a historical connection to games of chance, so it was only fitting that Denmark would be the nation to revive the gambling and betting industry in 2012. As we elaborate more on that, the connection between online casinos and Denmark should become more prominent.
Online Casinos and Land Casinos Together Generate Billions in Tax Revenue
Although the Danish Gambling Act did not become what it is today until the Amendment of 2018, Denmark become the first major European Union nation with legalised online gambling in 2012, albeit with strict limitations. By the year 2019, the gradual liberalisation of gambling in the country had already proven to be a highly successful initiative.
The new industry which consists of both online and offline Danish casinos had generated well over £46 billion by the end of 2018. Consequently, the casino industry is now contributing billions to Denmark’s economy through taxes each and every year. The gambling sector was a relatively new and previously absent source of income for the government, so it should not come as a surprise that the extra billions has allowed Denmark to become richer and stronger as a nation. It is difficult not to like an industry which created a significant, additional source of income for the country.
Denmark is One of the World’s Richest Nations
In terms of gross national income (GNI) per capita, Denmark is the 7th richest nation in the world, ahead of Qatar. Denmark is also the 9th richest country by gross domestic product (GDP) per capita, marginally behind the United States of America. There is and always should be a clear link between affluency and gambling because gambling is supposed to be treated as a recreational activity for the most part. Given that Denmark’s gross national income is about US$63,070 or roughly £47,920, people in Demark love online gambling because they can afford to.
There has been a bit of hassle recently in the Danish online gambling sector regarding illegal gambling sites. There are unregulated and unlicensed casino sites from foreign nations operating in Denmark and some of them are proving increasingly difficult to keep out of the country. The issue is that that such sites are not held in any accountability towards their members from Denmark or any other foreign nation for that matter.
Since such online casinos are not licensed, legalised, or regulated by the Danish Gambling Authority, or the recognised authority of another friendly nation, they can and often do end up cheating their players form their rightful winnings. If you are interested in safe, regulated, UKGC licensed, and legal casino sites, it is recommended that you pay a visit to www.onlinecasinos.co.uk. The official Online Casinos webpage constantly updates their list of UK’s top 10 best online casinos, which are in line with their strict requirements.
The Industry Helped in Decreasing Unemployment Rates
It must be mentioned that Denmark is not one of the nations that have had issues with unemployment for quite some time now. However, if we take a closer look at these stats from the last 25-years, it looks as if the employment situation in Denmark was not always as ideal as it is today. From 2010 to 2013, unemployment in Denmark hovered around and just above the 6% mark, but the unemployment rate started to dip consistently from mid-2012.
Note that this happened around the same time when online gambling was legalised in Denmark. From an unemployment rate that had reached approximately 5.9% in 2013, it dropped down to just 3.6% by the end of 2019. Although the global pandemic did boost Denmark’s unemployment rate to about 5.7% for a short time, it has now plummeted back once again to just 2.7% in early 2022.
Anyone can clearly notice a trend here, because the multibillion-dollar online gambling industry did play a big role in decreasing unemployment rates within the country in less than a decade’s time. That was possible because of the very fact that it’s so popular in Denmark. Being a consistently growing contributor to the country’s economy, online casinos and sport betting sites will continue to employ thousands of Danes in the future as well. Once again, how can anyone not like online gambling when it is still playing a crucial role towards bringing down the national unemployment rate?
Danes Prefer Online Gambling Over Traditional Gambling
The statement that Danish players prefer the privacy and security of online gambling sites more than traditional gambling houses is something that’s rooted in statistics. It was reported that by the end of 2019, online betting had the leading market share of 54%, leaving land casinos behind with only 46% of the total market. What makes this piece of fact particularly impressive is that the records were taken before the pandemic.
Once the pandemic was realised to its full and terrible extent, all land casinos were shut down indefinitely. This meant that online casinos gained 100% of the market share at that point. However, that was an emergency and things have since started to look a lot better for land casinos as well. Nevertheless, all stats point to the fact that online gambling was the preferred medium for Danes even before everything had to shut down for a while.
As of early 2022, no official stats were released to show us how much of the market share online casinos have in Denmark right now. It would be a fair assumption to state that whatever changes may come, online casinos will still remain as the most loved medium for gambling in Denmark. The neighbouring nation of Sweden is the only European nation with a bigger share of their domestic gambling market (59%).