Home » Swedish Gaming Operators Applying for Licenses
Swedish Gaming Operators Applying for Licenses
Recently updated on August 3rd, 2018
Swedish gambling laws are set to change on 1 January 2019, ending a monopoly on the online gambling industry in the country. At least 70 applications are expected to be made by gaming firms, with 22 already submitted. All newly licensed international operators will be taxed 18% to offer gaming, but Svenska Spel will not be taxed.
As such, Svenska Spel holds the only casino gaming license for the past 14 years. New regulations were made public in April to open up the market. However, the government refuses to let go of Svenska Spel or separate its operations. This has led to protests from many companies based in the country, including the Kindred Group. More so, the company name has conspicuously been absent from applications for licenses. Other leading gaming firms and operators have publicly applied but they may face ‘reputation reviews’.
Swedish Gambling Laws
‘Re-regulation’ by the Swedish government came after complaints from the European Union. Mainly, the free cross-border movement of services in the union. Sweden’s laws created a monopoly favouring Svenska Spel. This monopoly made it difficult to prosecute illegal gambling operations in the country according to EU laws. According to reports, the EU was making legal threats about the issue. New legislation was submitted to the EU in December 2017 and appears to have passed review. Until it comes into effect, however, advertising is still prohibited by unlicensed companies.
By opening the market to competition, officials have made the first steps to fight illegal gambling. It’s estimated that the unregulated market is worth NZ$690 million, while the regulated market is near NZ$2.83 billion.
Companies Applying for Licenses
According to reports, operators already applying for licenses in the Swedish industry include Bettson and Expekt. Should they receive licenses, they will still need to adhere to ‘strict requirements for moderation in marketing gambling’. This is a common theme in countries where gambling is legal. For many, gambling ads are seen as misleading and could influence underage gambling.
Of course, advertising could be banned in future, to meet new laws. However, there is a lot to do before any steps can be taken. For one, Sweden will need to hammer out any details with the European Union after the review.
Keep visiting NZ Casinos for updates on local and foreign gambling news.
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 September 10th, 2021Classic blackjack games have the best odds for winning and are the easiest to learn. Your odds are 0.13% or 99.87% returns per hand, which is stellar compared to other versions. Most classic blackjack games use a single deck but can use multiple decks. Still, there are a handful of […]
Recently updated on August 28th, 2018While gambling participation is declining in New Zealand, a new study has revealed that Māori and Pacific peoples remain at risk. According to the findings of the Auckland University study, this ethnic group is at a higher risk thanks to a higher number of poker machines. Part of the problem […]
Recently updated on December 5th, 2018Christchurch Casino is the first Kiwi casino up for a license review. While the current Christchurch Casino license is valid until November of 2019, the New Zealand Gambling Commission is now taking submissions from interested parties. These parties include casino representatives, the City Council and the Problem Gambling Foundation. Roughly […]
Recently updated on April 6th, 2019The Alabama Senate committee gathered on Thursday to hear three bills that were filed earlier this year. Two concerned state lottery and one concerned sport betting. The lack of gambling opportunities in the state is the reason for the new proposed legislation change. Currently, the state only permits pari-mutuel betting […]
Recently updated on April 8th, 2019Durian Dynamite is an up and coming fruit-themed pokie game published by Swedish casino software provider, Quickspin. Although the game makes use of a well overdone theme, the developer has promised that it will deliver something special when it is released on 9 April. It has been described as “fast-paced […]