Recent Studies Do Not Support Worries
The most recent study conducted by the University of Bergen in 2022, surveyed 30.000 Norwegian residents, with 7,400 respondents. The data showed that 2.1% of players have reported problematic gambling behavior, while 0.4% have revealed they used cryptocurrencies to place bets. Although 7% responded they are actively using tokens for purchasing goods and other items, but have not yet gambled with crypto.
However, the research indicated that the number of players at risk has been reduced to approximately 23,000 players with problem gambling habits, compared to data from 2019, when nearly 55,000 gamblers reported issues.
The numbers might not look too high, but for a better perspective, the number of active online players is expected to rise to 301,000 gamblers by 2027. Most players prefer offshore online casinos because of the larger freedom and more gaming options including the opportunity to wager with crypto. The revenue of the local Norwegian online casino market is projected to reach $287 million in 2023 and has a growth rate of 7.07% per year.
Not a New Trend
The latest regulatory decision is in tune with previous trends. The government has been in favor of a limited access to offshore online casinos, and one measure was a ban on payment transactions with operators not licensed in Norway.
Reportedly, nine banks are monitored by the Lotteritilsynet in an attempt to curtail problem gambling in the country. Despite the obstacles, players bypass the restrictions with VPNs and peer-to-peer platforms to purchase cryptocurrencies and gamble on crypto casinos.
The European Gaming and Betting Association has criticized the monopoly system, but there is no signal of a change in course by the Norwegian government. After New Year's Eve, players will not be able to play at offshore crypto casinos.