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Norway's Monopoly is Profitable

Year-end results for the Norsk Tipping lottery gambling company just drive home a huge argument growing in the European Union – exclusive and protected online casinos gambling monopolies prove that there is certainly a viable gambling market in the region yet foreign gambling companies are barred from competing with state-run companies for fear of a decrease in profits. The European Commission is currently investigating several nations for violating EU trade policies related to the free movement of trades and services. Protectionist policy that does not allow foreign access to a land or online casinos gambling market is prohibited by existing trade policy.

Unfortunately though the investigation into the EU online casinos gambling monopolies is slow-going and in the mean time state-governments are able to rake in the revenue. Norsk Tipping announced the company’s 2007 financial results and the figures are quite impressive – the company brought in $618 million in annual profit. That is significantly more than many European online casinos betting, lottery, and gambling companies are able to easily pull in because of the intense competition in the market. But with zero competition from other lottery companies, Norsk Tipping was able to show an eight percent increase in annual profit.

As for where that profit goes, naturally a large portion of the revenue goes right into the government’s budget. To be more specific, Tipping paid the government $250 million which went to the Ministry of Culture and Church Affairs. Other monies were contributed on a lesser scale to the Ministry of Health and Care Services and toward treating and preventing problem online casinos gambling.

If Norway is eventually forced to open up the countries online casinos gambling, betting, and lottery market, the government would certainly see at least some decrease in the amount of monies coming from Norsk Tipping although the government would have the ability to then tax and foreign operators in the country’s gambling industry.