Betsson shuts down its Danish site
January 11, 2020
Betsson has chosen to shut down its Danish site betsafe.dk. The decision has been made on the grounds of the new Danish gaming tax, which comes into force in January 2021. The gaming tax will go from 20% as it is currently up to 28% at the beginning of next year.
Betsson’s CEO Pontus Lindwall says the company will invest in other brands for the Danish market in the future. He continues to announce that the closure of Betsafe will not lead to any lost revenue in the country. We launched a brand new Danish site with our other brand NordicBet at the end of last year. This Danish site is very competitive, so we expect to see growth in Denmark, he announces.
The increased tax to 28% is expected to generate an additional 17 million pounds (USD22 million) in tax revenue annually for the Danish Gambling Commission.
Denmark introduced a regulation of the gaming market as early as 2012. The country was thus one of the first in Europe to introduce the regulation for online casinos and sports betting.
With such a sharp increase in gaming taxes, they are estimating that several gaming companies will shut down their operations in Denmark during 2020. Today there are 45 gaming companies that have a Danish license.
The neighbouring country Sweden has a 18% gambling tax since January 1, 2019 and they have pretty much copied the laws in Denmark. So let’s see when we see the gambling tax increase in Sweden as well.