Iceland's Justice Minister wants to allow foreign gambling websites into the local market. The current situation is not working well. Icelanders gamble more than almost any other nation globally. About 10 billion Icelandic króna flows abroad annually to unlicensed betting sites. The gambling laws have barely been updated since 2005. Foreign websites operate under outdated regulations that don't account for online betting.
Justice Minister Þorbjörg Sigríður Gunnarsdóttir said the status quo creates problems. She noted the market involves billions, even tens of billions. The minister has been examining how neighboring Nordic countries regulate gambling. She believes this activity is here to stay. Her focus is creating a normal framework for these matters.
Three years ago, a ministry working group studied the issue. Representatives from all stakeholder groups participated. They couldn't reach a consensus decision. This suggests any legal changes will leave some groups dissatisfied. The minister leans toward opening the market rather than closing it further.
She stated banning isn't the solution. She also remains grounded about expectations. The debate reflects Iceland's struggle to adapt old laws to modern digital realities. The government appears to recognize that prohibition has failed when billions flow to unregulated offshore operators.