Sweden gambling regulation thoughts shaking the market
Published by MyBettingDeals
Friday,September 28, 2018
Sweden gambling regulation – 3The Swedish Gaming Authority “Lotteriinspektionen” takes stock of the first two quarters of 2018. According to this report, licensed gaming operators in Sweden suffered a decline in growth, while some unlicensed operators could increase their sales significantly.
The unregulated market is booming
Looking at the figures just published by the Swedish Lotteries Inspectorate, one notices a striking trend in the Swedish gaming world.
In the first half of 2018, the Swedish licensed gaming operators recorded a growth decline of 1.9%, although the total turnover of the Swedish gaming market grew by 1.5% compared to the previous year.
According to the lottery inspections, it is problematic that in the same period growth of 12.5 % was recorded among foreign providers who offer their products without valid licensing in Sweden. These products earned 3 billion Swedish crowns (almost 290 million euros).
Magnus Granlund, an analyst at the Gaming Authority, estimates that the next two quarters will provide similar figures:
“For the time being, the trend remains that the regulated market will suffer losses due to unlicensed suppliers. We expect a further increase in marketing by January, which could lead to an even higher growth rate, for unlicensed providers.”
In the first two quarters of the year, the market shares in the gaming sector were so divided that 73% were held by the providers licensed in Sweden, while the remaining 27% went to the unlicensed gaming providers.
It is also interesting to look at the growth of online gaming compared to land-based gaming. Although both recorded overall growth, online casinos are ahead. Here there was a growth of 13.8% compared to the 8.6% of land-based casinos.
New laws as of 1 January 2019 (Sweden gambling regulation)
With the entry into force of new gaming laws in January 2019, it is will be more difficult for unlicensed providers in Sweden to maintain or even improve their market position.
Since August it has been possible for international online gambling portals to apply for a Swedish gambling license. There were clear guidelines who could and could not get such a license.
The basic requirements are expertise, experience, and organizational skills in the online business and knowledge of the legal circumstances in which the company operates.
They exclude suppliers whose offers include events that address minors or are generally considered offensive or inappropriate by the public.
The new Gaming Act also sets out clear rules on player protection, player exclusion, betting fraud and advertising. The Swedish Gaming Authority may also refuse to accept payments from Sweden.
a service provided by mybettingdeals.com
MOST PUPULAR CASINO NEWS