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Denmark is set to open up its online gambling market after the EU commission approved its new regulation measures, a development that signals the end of the country’s monopoly.

A statement from the Danish Tax and Customs Administration has confirmed that the market is set to liberalise on 1 January 2012 following a nine-month EU processing period, meaning that between now and the end of this year licenses will be applied for, processed and issued.

Scandinavian operators Bet24 are celebrating the news with a special 100% payout offer, meaning the site will be boasting the highest odds anywhere in the world for the weekend’s Danish Superliga football matches.

Bet24 chief executive Thomas Petersen commented: “It’s a historical day, as the ancient Danish gambling monopoly will now finally be replaced by a licensing system. More gambling operators will therefore soon gain access to the new and more consumer friendly Danish market. Bet24 has been looking forward to this day for more than 10 years now and we are excited to be competing on equal terms within an open market”.