UIGEA – Norwegian Style
On 19 February 2010 the Norwegian Government introduced its payment processing ban for online gambling. The Payment Act establishes that where gambling is taking place on the Internet without a Norwegian licence the financial institution will be an accessory to unlawful gambling. The law comes into effect on 1 June 2010.
Betsson is one company that derives a sizeable portion of its revenues from Norwegian customers. But Betsson’ CEO Pontus Lindwall claims that he is not expecting any major disruption to business because of the ban. He cites alternative payment methods and technical solutions as being employed to ensure Betsson’ customers can still place their bets.