Norway Implements a More Transparent Distribution of Norsk Rikstoto Revenue

New Distribution of Norsk Rikstoto Profits is Coming

Apr 5th, 2023 Iryna SI

While gambling is not fully legalized in Norway, players can still enjoy licensed horse racing. At the same time, the profits that a supervising institution receives are divided between different equestrian organizations. This practice is not new in the country, but new changes have been announced recently. Thus, there will be a new mechanism for the distribution of Norsk Rikstoto profits. Let’s take a look at how it will function.

Norwegian players would be happy to know that the Ministry of Food and Agriculture has formalized the revenue share that is to be received by different organizations in the country. Those new regulations make the process more transparent, as there should be a certain percentage of the profits that each organization should receive.

This is a positive change, as this process was more discreet in the past, and the ministry did not have clear rules to follow while distributing the revenue.

WHAT ORGANIZATIONS CAN GET A SHARE OF REVENUE?

Norsk RIkstoto, a state-owned company, is the supervisor of the gambling on horse racing in Norway, and it is the one to collect bets. The revenue of that company is then distributed between equestrian organizations to support different kinds of sports in the country.

Thus, the new regulation states that the biggest share of the revenue (82%) will be given to the Norwegian Trotting Association, the national harness racing association. The ministry claims that those grants should support Norwegian harness racing, horse breeding and keeping.

Another 9.2% of the revenue should go to Norwegian Gallop, a horse racing association, and they should be spent similarly to the way the Norwegian Trotting Association should. It is expected that the money will be invested in infrastructure and people that work in the industry.

5.8% will be granted to the Norwegian Horse Centre, an organization that promotes the quality of horse breeding and keeping. The final 3% will be distributed to non-profit organizations that are beyond the mentioned list. In order to apply for a grant such organizations should work in the horse breeding industry or horse racing sport.

At the same time, Spain is moving towards more responsible gambling and approves a New Responsible Gambling Decree that offers a set of new restrictions and rules for casinos with a focus on the protection of players at risk and those under 26 years old. More details on the upcoming changes can be found in our article about this recently approved Decree.