European Gaming and Betting Association (EGBA) secretary-general Martin Haijer believes Iceland can follow Nordic neighbours Denmark and Sweden by successfully adopting an open licensing regime for gambling operators.

In an opinion piece published on Icelandic news website Visir, Haijer called for a “rethink” of the nation’s monopoly-based market.

The only six entities in Iceland that have been granted a gambling licence must invest their proceeds into social causes, squeezing out the private sector. A report earlier this year by the Iceland Review magazine claimed that Icelanders spend about ISK20bn ($146m) on unregulated foreign gambling websites annually.

He warned that the current system is “at odds” with almost all other European countries, as well as Icelanders themselves.

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