This week Norway’s government introduced a new legislation very similar to our own Unlawful Internet Gambling Enforcement Act which banned U.S. financial institutions from processing in any degree gambling related transactions. According to sources, the new restrictions will not be enforced until the mid 2009.

The funny thing is that they seem to be experiencing the same type issues that were experienced here in the U.S. The financial institutions are up in arms about how they will enforce the new regulations.

This new regulation was put into impute to in order to secure the government-owned Norske Tipping, the country’s land-based agent for lottery, sports and insta-games.

Back in 2007, Rolf Sims, a legal guide to Norway’s Ministry of Culture, explained to Reuters that the reason beneficial to the new legislation is due to the public’s negative survey of gambling.

“The anti gambling lobby has got the wind in its sails,” Sims said. “It would be politic self-destruction for any government minister to suggest legalizing gambling.”

It will be great to inquire the outcome of this newly come legislation in comparison to the United States. Will they be better at regulating the online playing for money industry? We’ll virtuous have to wait and see…