Home » Gambling Companies are Advertising Illegally in Sweden
Gambling Companies are Advertising Illegally in Sweden
Recently updated on February 13th, 2018
Sweden is currently reorganising its gambling market and has already entered the final stages of regulation. This means that international gambling companies will soon be offering their services in the Scandinavian country. Unfortunately, some operators have jumped the gun and are advertising illegally in the country. While the new regulations have been approved, they will only go into effect after January 1st in 2019.
While Swedish gambling companies like the Kindred Group and Leo Vegas are allowed to operate in the country, they can’t place ads. This is mainly because of the current Lottery Act, which prohibits gaming firms from doing so. A local Swedish newspaper, Metro, was warned by the local gambling regulator to stop publishing gambling ads. What’s more, Metro will face fines of up to SEK250 000 (±NZ$42 500) if they don’t comply.
Foreign Gambling Companies Interested in Sweden
Thanks to the forthcoming regulations, international gambling companies will soon be able to apply for licenses from the gambling regulator, Lotteriinspektionen. They will then be able to operate in the newly regulated market. The legislation was submitted to the European Commission in December 2017 and is currently at a three-month standstill while it is reviewed.
Additionally, Sweden has already drawn interest from foreign operators. What’s more, Swedish gambling companies are also interested in expanding their national interest. According to Lotteriinspektionen, their regulated market is worth roughly SEK16.6 billion (±NZ$2.83 billion). The unregulated market is valued at SEK4.045 billion (±NZ$690 million), but could turn out to be larger.
New Regulations in 2018
Sweden joins a number of governments currently reworking their gambling regulations. However, they have come further than others. For example, Brazil’s gambling laws have reached another stalemate after years of talks. Additionally, Japan is trailing with their proposed frameworks after months of political upheaval.
Other countries are forging ahead with their new laws, despite setbacks, like in Cyprus and the Northern Mariana Islands.
Taralynn Engels is a seasoned casino news writer with a passion for keeping her readers up-to-date with the latest happenings in the gambling industry. With over five years of professional writing experience, Taralynn has developed a deep understanding of the casino industry and a knack for delivering engaging and informative content. Aside from her in-depth knowledge of the casino industry, Taralynn possesses excellent writing skills that allow her to craft captivating narratives that keep readers hooked until the last word. Her ability to simplify complex concepts and present them in an accessible manner guarantees that her articles are enjoyed by both seasoned casino enthusiasts and newcomers alike.
Recently updated on July 20th, 2019Pragmatic Play is one of the fastest-growing casino game providers in the iGaming industry. The gaming providers offer a wide range of casino products, including live casinos. Pragmatic Play has signed a deal with Parimatch, the international online betting company to integrate their live casino offering. Parimatch is known for […]
Recently updated on April 22nd, 2019It has been reported by Newsroom.co.nz that there are about 13 offshore gambling sites. These websites are using the New Zealand association to seem credible. The gaming websites have gone as far as to use the country’s coat of arms and New Zealand website addresses. According to the Department for […]
Recently updated on May 16th, 2018Twitch Interactive is a live-streaming service used mainly by ‘celebrity’ gamers. These gamers make money from live-streams and promotional deals. Some even advertise specific services for the games they play. However, one ‘celebrity’ was banned from Twitch in 2016 after using the platform to promote a skin betting site he […]
Recently updated on January 31st, 2018After months of sexual harassment allegations in the entertainment industry, new accusations have surfaced against Steve Wynn. The founder, Chairman and CEO of the infamous Wynn Resorts is now facing serious charges of misconduct towards his female employees. In an ‘extensive report’ published last week, the Wall Street Journal claimed […]
Recently updated on July 22nd, 2019Although there has been much conflict over the increasing presence of the gambling sponsors in the English Premier League, it has been confirmed that half of the teams competing in the league will have a gambling-related shirt sponsor in the upcoming season. The news comes with the announcement that shirt […]