The Swedish authorities reap the benefits of the new gambling regulation implementation, as well as punish those operators not complying with the requirements.
This week, Sweden’s gambling regulator (Spelinspektionen) reported the market generated revenue increase of 2% in the second quarter of the year (from April to June) compared to the first one. With regard to online gambling revenue, it grew by 2.8% to SEK3.45 billion.
Since the new legislation launch in January 2019, there has been a decrease of 15.4% in revenues generated by foreign gambling operators, that are not licensed in Sweden, in Q2 compared to Q1 (SEK 324 million and SEK383 million accordingly). It can be regarded as a victory since their total revenue for the first half of the year is three-quarters less than the one of unauthorized operators for the same period of 2018. This means that three-quarters of all Swedish online gamblers have shifted to regulated websites.
However, there are problems related to sports betting on matches involving underage players. Such acts contravene Sweden’s legislation, so Spelinspektionen penalize those operators violating the law. Thus, three bookmakers (Hajper, ComeOn Sweden and Snabbare) have been fined between SEK4.5 million and SEK 9 million for offering bets on European football leagues’ matches involving players under 19. Another operator Legolas Invest Ltd took bets on one volleyball game with the participation of minors and was penalized SEK100 thousand.
In this regard, the organization representing Swedish legal online operators requested a meeting with the regulator’s representatives in order to clarify the peculiarities of the legislation. Spelinspektionen set up such a meeting for September 17 and invited all its licensees to come.
As mentioned earlier, Sweden’s gambling revenue differs from what the local government expected.
Read more: Swedish Casinos: History and Prospects
Read more: Gambling Legislation in European Countries