Regulatory authority and essential gambling laws in Austria
Partaking in betting activities is permitted in Austria; the country’s gambling market is among the most prosperous industry that has brought tremendous benefits to the economy. Due to the popularity of gambling activities; the Austrian regulatory authorities have enacted the gambling laws strictly to manage gaming operations. The rules restrict casino activities and include some regulations that are intended to prevent foreign-based betting services providers from entering the market.
The gambling laws in Austria have permitted the establishment of offline and online casino platforms; this has lead to problems, for example, addictive and underage gambling. However, with the latest modification to the Austrian Gambling Act; the government has come up with possible solutions to the problems. The regulations require online gambling platforms to employ strict procedures to authenticate player’s and determine their age before they can take part in any gaming opportunity provided.
The Austrian Gambling Act permits the government to set up a national gambling monopoly. The (GSpG) Austrian gambling monopoly controls the gambling market; it also breaks up the authority among the provincial and the national government based on the type of gambling opportunity.
Under the country’s Gambling Act requirements; any Austrian who wishes to engage in gambling must have reached the legal gambling age of eighteen years.
The Legal Definition of Gambling in Austria
The Austrian Gambling Act allows players to participate in all games of chance; these are games that the possibility of winning depends on the player’s luck.
Also, players can participate in games of skill where one's skills at the game determine the results. The Gambling Act does not control games of skill.
Types of Legal and Illegal Gambling in Austria
Although the Austrian gambling legislation has imposed strict regulations that control the foreign-based companies’ activities in the country’s gambling market; several internationally licensed gambling sites are available for Austrian players.
The players can enjoy playing games such as poker which is well-liked by the players, and it is offered both at online and land-based casinos. Other favorite games include Casino games offered both on online and offline betting casinos, sports gambling, Slots, horse racing, Games of Skill such as chess, and lottery Games such as bingo.
Even though online lotteries casinos are permitted to operate in Austria, they are strictly controlled by the Austrian regulatory authorities.
Stance on online gambling in Austria
The country’s betting laws strictly control the online gambling market. The online gambling websites that are approved and controlled by the state regulatory authorities can only provide their services in the local market.
Regardless of the strict gambling laws that control the country’s online gambling market, online betting sites have enjoyed great success. Also, players from Austria can access several international online gambling platforms to participate in the wide variety of gaming opportunities offered on them.
Stance on Offline Gambling in Austria
Land-based casinos are allowed to operate in Austria; several casinos provide Austrian players with gaming opportunities and services. Among the legal games offered are Casino games, sports betting, horse racing, Poker, Slots, Games of Skill such as chess, and Lottery Games such as bingo.
Stance on Cryptocurrencies and Bitcoin Gambling in Austria
Austria’s Financial Markets Authority has cautioned citizens to be careful with cryptocurrencies transactions because no law in the country controls them. However, it is up to them to decide whether to use cryptocurrencies as a payment method. Austrian players can participate in cryptocurrencies and Bitcoin gambling, but in case of fraud, they are not protected by the countries gambling laws.
The gambling laws in Austria have permitted the establishment of offline and online casino platforms; this has boosted the country’s economy due to the high returns that come from the industry. Austrians enjoy a variety of gaming opportunities provided by both the online and land-based casinos; some of these games are poker, Casino games, Slots, sports gambling, horse racing, and lottery Games. However, legalizing gambling has lead to minor and addictive gambling problems.