Danish Land-Based Betting Decline Coincides with New Regulatory Measure

Following the new legislation introduced on 1 October 2023, the spending of the land-based betting market in Denmark decreased in October and November 2023 when compared to the same period of 2022. The new measure requiring players to identify themselves using a so-called Player ID when placing bets with land-based wagering facilities in Denmark coincides with the decline.

Player ID Requirement:

As reported, Player ID requirement became mandatory for all retail betting operators.  Since 1 October 2023, all players have been obliged to link their Player IDs with the respective accounts held with Danish operators. According to the source, the measure aims to enhance customer protection and ensure that juvenile persons do not get involved in the betting activities. But the betting handle across the retail betting facilities saw a decline already in October and November 2023 marking the first two months of the legislation’s effect.

40% Decline Over November and October 2023:

The state regulator Spillemyndigheden reportedly said: “In the first two months after the introduction of the Player ID, the spending on the land-based betting market was lower compared to before the introduction of the Player ID. However, it is too early to conclude whether the decrease is due to the Player ID.” But the regulator’s report shows that the betting handle in October and November 2023 reached a total of EUR 283 million. When compared to the same period of 2022, the value represents more than a 40% decline in bets placed via desktop, mobile, and retail betting operators.

Betting Trends:

In October and November 2023, more than 65% of bets were placed via mobile devices, around 17% via computers, and almost 18% of bets were placed in-person with land-based licensed operators. In the same period of 2022, the share of land-based operators was around 22.5% while computer bettors stood for around 13% of total bets. As the share of bets placed via mobile devices stood at around 65% in 2023 as well as in 2022, it seems that the Danish players made a shift in October and November of 2023 from land-based facilities to place bets via computers. Indeed, the 4% decline in 2023 land-based bets might have resulted in a 4% increase in 2023 computer bets, when compared to the same period of 2022, respectively.

Land-Based Decline:

The wagering handle in October and November of 2022 amounted to EUR 472 million, 40% above the 2023 figure for the same period. Land-based bets placed in October and November of 2022 contributed 22.5% or around EUR 106 million versus around EUR 48 million handled by Danish retail betting facilities in October and November 2023. It is early to make any connections between the new measure and the betting handle across Danish operators. Still, they handled around EUR 58 million less in land-based wagering facilities and around EUR 189 million less across all betting operations in the first two months of the new legislation to indicate the recent market trend coinciding with the Player ID mandatory requirement.

Related Posts

KFC, Pizza Hut operator Sapphire Foods’ board approves stock split of 1 share into 5

KFC, Pizza Hut operator Sapphire Foods announced that its board members has approved the split of existing equity shares of the company from 1 equity share to 5 equity shares.

In a regulatory filing, Sapphire Foods said that the meeting of board of directors on Wednesday approved that the shares of the company from 1 equity share having face value of Rs 10 each fully paid up, will be split into 5 equity shares having face value of Rs 2 each fully paid-up.

It also announced the alteration of Capital Clause (Clause V) of the Memorandum of Association of the Company (MoA) on account of sub-division of equity shares.

Interarch Building Products makes stellar debut, lists at Rs 1,299 on NSE Ambuja Cements shares surge 4% after promoter sells 3% stake via block d…

Markets correct, global concerns spark selloff; Nifty below 19450

The correction continues for the second consecutive day in the market. The Nifty slipped below 19,450 and the Sensex too declined 286 points. The broader market was down more than 1%. Selling was seen across the sector, except for FMCG & IT. Most market observers believe that the withdrawal of funds as a result of the dollar rally is a primary trigger for this selloff. India’s vulnerability to global concerns is a primary worry.

Shrikant Chouhan, Head of Research (Retail), Kotak Securities, “Despite our strong macroeconomic growth performance, India is not insulated from global problems, and hence any correction in global markets due to worries over further rate hikes would have a rub-off effect here. However, the Nifty has formed a Dragonfly Doji candlestick for…

Mazagon Dock Shipyard up 4.5% after wiping off 1-month gains in 21 session

Shares of Mazagon Dock Shipbuilders rose 6% to an intraday high of Rs 4,560 from its previous close of Rs 4,299.55. The surge in stock price came a day after it fell 9.4%, intraday. Also, the stock was down for the whole week, wiping off investors’ gains in the last five trading days. 

Earlier, the brokerage house ICICI Securities in a research report gave a 77% downside from its current market price, which it took as Rs 4,999 for the shipbuilder stock. The brokerage house maintained its “ Sell” rating on the stock saying that it is overvalued at the current market price. 

“Despite factoring in the potential orders of P75 (three additional submarines), P75I and next-gen destroyers, and margins at an elevated level in the near term, we believe th…

LIC gets nod from RBI to raise HDFC Bank stake to 9.99%

HDFC Bank  announced on Thursday that the Reserve Bank of India (RBI) has granted approval for the Life Insurance Corp. of India (LIC) to acquire an additional 4.8% stake in the country’s largest private sector lender. LIC currently holds a 5.19% stake in HDFC Bank.

According to a stock exchange filing by HDFC Bank, the RBI has advised LIC to complete the acquisition of the additional HDFC Bank shares within a year. However, LIC must ensure that its overall holding in the bank does not exceed 9.99% of the paid-up share capital or voting rights of the bank at any given time.

Also Read

SME-IPO Fonebox gets subscribed over 10 times on first day of opening; here is all you need to know about it Come from

Railway stocks dip post-Budget announcement as railway expenditure less than market estimate; should you invest now-

Railway-linked stocks, including IRFC, Rail Vikas Nigam (RVNL), Railtel, and others, witnessed a dip in their stock prices following Finance Minister Nirmala Sitharaman’s conclusion of her interim Budget speech in the Lok Sabha on Thursday.

Shares of IRFC, RVNL, Railtel, and other related stocks are grappling with losses ranging between 3% and 5% post budget speech.

Also Read

Hero MotoCorp shares hit all-time high on robust January sales

Despite the market’s anticipation, the Budget allocated a capital expenditure (capex) of ₹2.55 lakh crore for the Indian Railways. While this figure is marginally higher than the ₹2.4 lakh crore announced in the previous year’s Budget, brokerages had anticipated a more substantial increase in r…

Prosus does not reveal its cards on Swiggy stake

Technology investor Prosus in a post-earnings call on Monday, declined to reveal whether it plans to sell a part of its 32.6% stake in food tech unicorn Swiggy’s $1.2-billion initial public offering (IPO).

“Swiggy is an important part of our portfolio and we are a big believer in SwiggyCome from Sports betting site. We can’t comment on if we are going to sell in the IPO or not. We really like the business and we hope we can help the business’ performance,” a senior executive of Prosus said.

Prosus’ large shareholding in the food tech firm means that it is likely to be tagged as a promoter and would be put under several restrictions with regards to how and…