Sports betting is quite regulated all across the European Union.
Although it’s up to individual countries to regulate sports betting or gambling, in general, it’s not prohibited to visit online sportsbooks and have a picks against the spread bet every now and then.
Since the European Gambling Commission cannot oversee what each casino or sportsbook is doing in every European country, they leave it to such institutions to implement policies and procedures themselves.
That will make them compliant with specific rules and regulations in order to get an operational license. That’s why land-based and online casinos and sportsbooks have specific consumer protection policies. With that in mind, here are a few things you should know about these regulations.
Anti-money laundering policies
You may have noticed that online casinos and sportsbooks have generous welcome bonuses. These bonuses often include free bets, slots pins and matching deposit bonuses, among other things. However, these bonuses also come with the so-called wagering requirements.
This is actually a part of the anti-money laundering policies that such institutions must have in place to be properly licensed. Every customer must fulfill these wagering requirements before they can collect their winning or cash out. Therefore, free offers come with a catch but you can either win money or break even.
Battling gambling addiction
The European laws and regulations regarding gambling addiction are very strict. Online casinos and sportsbooks are allowed to operate and promote their services as long as they have proper policies in place that will prevent addictive behavior. That’s why many of these institutions will require that you set a limit upon creating an account.
They also have the right to block accounts if they notice that customers are going over the limit or not behaving in accordance with their policies. They are also obliged to provide proper counseling services to customers who exhibit addictive behavior.
Sensitive information protection
User sensitive information, such as name, address, bank information, credit or debit card information must be properly and safely collected and stored by online casinos and sportsbooks. That’s why these institutions are obligated to have proper security measures in place.
They must also provide secured payment options for customers to choose from. That’s why many of these institutions inform customers about their payment processing and data protection so that consumers know what to expect.
Closing Words
Betting regulations and consumer protection regulations are quite strict in Europe. Sporstbooks and online casinos that are not compliant with these regulations can lose or become unable to renew their license. The policies these institutions must implement may create some inconveniences for customers but that’s a necessity everyone must learn how to deal with.
