Sweden

Sweden’s Gambling Framework

In 2018, Sweden, a progressive Scandinavian nation and one of the world’s most reputable countries, experienced a monumental shift in its gambling landscape.

Gambling Framework – The Big Change

The Swedish Parliament passed a new Gambling Act, set to take effect on January 1, 2019. This significant legislation improved the Swedish online gambling industry dramatically.

The Old System

Previously, since 1934, Sweden had a state-enforced gambling monopoly to combat illegal betting and protect players from exploitation by unlicensed, offshore operators. This monopoly blocked foreign companies from operating in Sweden, making Svenska Spel the only legal market operator.

Impact of the Monopoly:

The monopoly boosted national economic potential through internal tax revenue. However, it limited players to a few land-based casinos, neighboring countries, and cruise ships in international waters. The rise of online casinos and the European Union’s anti-monopoly laws increasingly criticized this situation, pushing Sweden to reconsider and re-regulate the market.

The New Era

After three years of deliberation, the Swedish Parliament approved the new Gambling Act on June 7, 2018, ending the monopoly.

Benefits of New Legislative Measures

The new law re-regulates all gambling sectors. It introduces competitive market conditions with strict consumer protection and gambling addiction prevention measures.

Players’ interests now come first, with requirements for online operators to:

• Protect players from excessive gambling and monitor their habits.
• Proactively prevent early gambling problems.
• Advertise moderately and realistically without targeting minors.

For Players:

A national self-exclusion register, governed by the gambling authority, allows players to exclude themselves from all licensed operators for at least 12 months.

Licensing and Taxation

The Act permits both foreign and domestic operators to apply for a 5-year online license, provided they meet the required knowledge, experience, and organizational capacity. It also sets a moderate 18 percent tax rate for online gambling.

With this regulated framework, Swedish players can now enjoy outstanding gaming experiences locally. International operators also have the opportunity to offer their services in this promising market.

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Firsthand Experience

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Online Casino Payments

Quick Payments:
Bank accounts are the preferred payment method, and BankID is revolutionizing access to them. This legal form of identification and signature works closely with numerous Swedish banks and complies with Swedish and EU laws.

With the Scandinavian online transactions business growing, expect more innovative solutions. BB will keep you updated on how you can benefit from these developments.