|   Business


  |   Business


Norway to Review the Rikstoto Race Monopoly

According to a recent report, in a bit to simplify the gambling system of Norway, the Norwegian government is planning to evaluate whether the monopoly established by Norsk Tipping will absorb the horse-racing services of Rikstoto.

This review will be conducted by the Ministry of Culture of Norway in association with the Ministry of Agriculture. Reportedly, the Ministry of Agriculture has previously handled the regulations related to the race monopoly.

This evaluation will determine if the contract of Rikstoto will be extended beyond 2021 as the monopoly provider of the horse racing facilities of Norwegian or not. As this development is going to be huge, best Norwegian betting sites are keeping a close eye on what is going to happen next.

Rikstoto vs. Tipping

As of now, Norsk Rikstoto handled the pari-mutuel horse racing betting in the country. However, its ability to run wagering which started in 2016 is soon going to expire on 31 December 2021. The task in front of the government is to let Norsk Tipping handle the betting solely or let both the bodies (Norsk Rikstoto and Norsk Tipping) organize jointly.

Trine Skei Grande who is the Minister of Culture and Gender Equality believes that the government should assess which organization will be better suited to organize racing in the country.

On similar lines, Olaug Bollestad, the Minister of Agriculture and Food, believes that both the departments should consider as to which organization will ensure the high standards of responsible betting.

Norsk Rikstoto is expected to introduce a maximum wagering or loss limit on horse racing. Although this limit is not introduced yet, it will be introduced once it is decided as to which body will run the games.

On the other hand. Norsk Tipping revealed that their decision to introduce activity overviews wherever players login is expected to go well among customers.

All in all, it will be interesting to see how things evolve in the future and which body is provided with responsibility.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.

  • Market Data

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.