Austria (GSpG) Licensed Casinos

Introduction to Austria Gambling Law and Regulation

Gambling has been around for centuries, and it’s no secret that many people enjoy the thrill of gambling. A recent trend has seen an increase in gambling all over the world. Gambling is a popular pastime for many people. It can be enjoyable and provide some fun, but it also has risks that you must take into account.

There are different types of gambling casino betting, horse racing, sports betting, and lotteries. Casinos offer a wide variety of games that include slot machines, blackjack, and roulette as well as table games like poker and craps. In recent times, casino games have seemed to gain a lot of popularity among people with many new users joining in to enjoy its thrills and excitement.

Gambling is an important industry in Austria. With a market value of around €7.5 billion, it generates a lot of revenue. It employs around 54,000 people and generates annual revenue of approximately €2.3 billion. Though, there are also venues that offer other forms of gambling such as bingo, poker clubs, etc. In recent years the growth rate in the Austrian gambling industry has been slower than elsewhere. One major reason is strict regulatory laws and local operator support only inside the country. Foreign operators are illegal in Austria.

History

Gambling is a centuries-old tradition in Austria. Austrian gambling history dates back to the times of the Austro-Hungarian Empire. Gambling has always had a long and colorful history in Austria. In 1869, Austria became the first country to legalize casino gaming. Today, gambling is legal throughout most of Austria with some exceptions. The empire always had a strong connection with gambling. It was partly due to its Catholicism roots and partly because it was one way for aristocrats to make extra money.

During the 17th century, gambling was already a popular means of entertainment in Austria. Mainly during festive holidays, people filled up public places and venues, enjoying the thrills and spills of gambling. Austrian casinos were among the first legalized gambling establishments in Europe. They are still some of the most popular destinations for gamblers around the world.

The increasing popularity of gambling caught the attention of the royalty during that time. This led to the formation of the first gambling laws in the country in 1686, by Leopold I, the Holy Roman Empire's emperor. This law prosecuted any kind of illegal gambling activity in the country.

The main aim of this law was to inhibit the spread of illegal gambling in the country. The ever-increasing popularity of gambling has led to considerable regulation over time, although, even today, Austria remains one of the more tolerant countries. It applies to all sorts of betting games like roulette or blackjack.

Gambling Law and Regulations

Austria has some of the most relaxed gambling laws in Europe. Players can place bets on almost any type of game. But you must meet the requirements set forth by law. That includes blackjack though not poker and horse racing from overseas. With the increase in the popularity of gambling in the country, higher authorities realized the need for regulation. But, the law still could not counter the sharp rise in the gambling market.

Gambling is legal in Austria, but there are a few restrictions. Casinos are only allowed in the city of Vienna and you must be at least 18 years old to gamble. The maximum stake that can be placed on any single bet is €2,500. There’s also a ban on online gambling although this law has been challenged. Lotteries or pub games where money changes hands outside of designated venues are illegal in the country.

The Progression of the Gambling Law

Following recommendations from an expert council in 2001, by the then Chancellor, a bill allowing limited forms of gaming developed. It included games such as slot machines and card games with nominal prizes like drawings or raffles.

Gambling law underwent more amendments with a due course in time until the formation of the Gaming Act in 1989. It was called GSpG or Glücksspielgesetz. This was the official law for the regulation of all gambling activities in the country, enacted by the Austrian federal constitution. It is the basis for regulation of all times of gambling by the federal government. Till now as many as 17 times the law has been amended.

The ministry of finance, Austria oversees GSpG. However, a new regulatory authority development is under construction. Once formed, it will be fully responsible to oversee all types of online gambling in the country. Gambling is legal in Austria, but there are a few caveats. Operators outside Austria cannot provide gambling services inside the country. All the locally licensed operators in the country can serve users of Austria only.

GSpG and Its Formation

Glücksspielgesetz or GSpG is the official gambling law in the country regulated by the Ministry of Finance, Austria. Users with GSpG law are now able to use local gambling services without any worries. The main objective of the law is to prevent corruption, illegal activities, and money laundering in the gambling market of Austria. Also, with the increase in the number of illegal gambling casinos, the law punishes any such activities.

One of the main objectives of GSpG is player protection. With the increasing trend in gambling, malpractices have become a common issue. Money laundering scams and hacking into user accounts are common problems. To tackle all these problems, the GSpG law came into force to improve player safety.

GSpG Provisions and Plans

GSpG makes sure all gambling activities in the country are regulated and authentic. Apart from improving user experience and security, GSpG aims at reducing gambling-related addiction. Some of the major proposed provisions of GSpG are:

• Self-exclusion program to prevent gambling addiction. This applies to both online gambling and land-based gambling casinos. Gambling addiction is a common phenomenon nowadays which may lead to huge financial losses. Many users do not know where to stop and end up going bankrupt. To counter this addiction problem related to gambling, GSpG aims at regulating the time and money spent in a day. This applies to any time of gambling game from betting to casino games.
• Figuring out whether loot boxes are a form of gambling. The reward inside the boxes depends fully on luck and is random. This is due to the search for the desired item and can cause overspending.
• Forming a list of gambling sites blacklisted by Austrian ISPs. Over the past few years, there is a steady rise in fake online casinos and websites. These fake sites lure users in with the hope of providing you with big rewards but end up taking away your money. GSpG aims at blacklisting such fake sites to improve user safety and privacy.
• Developing anti-corruption systems to stop casino operations from influencing politicians.

It is a creation of gaming regulations for online gambling to set time limits, maximum deposit amounts, and maximum stakes per bet to minimize the risk of losses.

Future Goals of GSpG

All the provisions of GSpG are made with the main goal of player security and safety in mind. These provisions are yet to be finalized and put into action. After approval from the ministry of finance, Austria, these regulations will be put into use. The future of gambling networks might be up for major changes as regulations come into effect with stricter policies,

GSpG and Player Protection

The GSpG law protects Austrian players and gives you a safe environment to play. When choosing an online sports betting site, there are always some important considerations. You should always consider these for your safe entertainment experience. Take a good look at the portal and ensure that the site is official and safe to play. Sites that do not have any certification can be closed at any point in time by the authority. Never deposit your hard-earned money without proper investigation at first. Overall, the GSpG law provides a safe playground for all its users. Also, it ensures that financial security is of the highest level for Austrian players.

The GSpG also prevents minors from taking part in land-based casinos and slot machine arcades. The law also prevents them from using slot machines outside arcades. The protection of minors is mainly overseen by the Bundesländer in local minor-protection laws. As per these laws, in general, minors are completely banned from entering any sort of betting premises in the country. This applies to both online and offline land-based casinos.

Fines at Austrian Licensed Casinos

As per the Austrian Criminal Code, section 168, any kind of gambling without a license from GSpG is an illegal and criminal offense. In case of being found guilty of illegal gambling, a fine of up to €22,000 to €66,000 may be imposed. The operator needs to pay the amount to the respective authority.

Like all other authorities, GSpG believes that you should first try to solve your problems with the particular casinos or online websites first. You may not get a direct reply from the authority. But, in case of any malpractice detected by the authority against a particular operator, GSpG will take the required action.

All these services make sure that player safety is of the best quality when it comes to GSpG authorized casinos.

Before depositing your money, you must make sure that the platform has an authentic license.