Norsk Rikstoto looking to introduce betting and loss limits from 2020
Players will be subject to monthly betting and loss limit under proposals
Norwegian monopoly horseracing operator Norsk Rikstoto has proposed the introduction of limits on how much bettors can stake and lose from 1 January 2020.
Under proposals submitted to the Norwegian Gaming Authority (NGA) in July, Norsk Rikstoto will introduce a Kr20,000 (£1,800) per month betting and loss limit on all new and existing bettors.
In addition, bettors will be able to transfer any unused loss limit to another month, limited to a total of Kr60,000 (£5,300) over a 90-day rolling period. The company said it wants to give bettors four self-selected days per year where no limit will apply.
The monopoly operator also proposed the introduction of a special scheme for players who have previously had a personal loss limit above Kr20,000 and those who have made bets over this amount.
Norsk Rikstoto said it will conduct a research project into these so-called VIP players, suggesting that it may look to allow these players to set their own total loss limit.
As part of its licence renewal in 2016, Norsk Rikstoto agreed to establish a total limits system on all bets and losses by 1 January 2019. The Norwegian Ministry of Agriculture and Food first asked the NGA to begin discussions with Norsk Rikstoto concerning the introduction of limits on bettor gambling in 2017 following the renewal.
Several proposals have been submitted by Norsk Rikstoto over the intervening period, with the NGA scrutinising each proposal individually. However, in October 2018, the NGA recommended a one-year postponement of the introduction of limits pending further discussions with Norsk Rikstoto.
Responding to this latest proposal, the NGA has stipulated that Norsk Rikstoto “must clearly explain to players how the solution works, so that the players have a conscious relationship with loss limits and so that the solution does not lead to bad gaming behaviour,”.
In addition, the NGA has said it does not support the introduction of higher limits for VIP players, arguing that the kr20,000 limit should apply to all players.
The NGA also argued that Norsk Rikstoto has not provided enough information to justify the introduction of four-limit free days a year. However, the NGA has indicated its support for the removal of the seven-day loss limit.