Sweden Online Gambling Industry

Gambling in Sweden has not been a straightforward affair for many years. In 2019, the state was in charge of all the brick & mortar and online casinos in the country. Svenska Spel state company was the only one licensed to offer sports gambling, online casino gambling, and other forms of gambling. But like most countries, many gambling operators do adhere to the licensing directives, and by 2018, these companies had amassed a significant portion of the lucrative $2.5 billion worth gambling industry. 

After the government imposed the tough directives in January 2019, many companies lost over a third of their revenue from online casinos. According to News 55 media outlet, most Swedish local gambling operators lost over 30% in sales from June to August. The Swedish Tax Agency also reported that the country’s local gambling operators had a 1.4% revenue decline in the first quarter of 2020 compared to 2019. 

Are Online Casinos in Sweden Licensed? 

It depends on the casino; some are licensed and others are not. The Swedish Gambling Authority oversees the gambling laws in Sweden and has indicated that online casinos in Sweden should be fully licensed and comply with the set regulations. 

But betting companies that are registered in other jurisdictions can also operate legally in Sweden. These companies won’t have to adhere to the government restrictions. Due to Sweden’s government restrictions, casino operators have to limit the number of games they are offering as well as the bonuses. Additionally, there are deposit limits, and players must verify their identity when making withdrawals. 

However, online casinos that don’t have a Swedish license do not adhere to many of these restrictions. Instead, they have their set regulations; players who have also opted out of gambling at Casinopro.se website can play their favorite games without any limitation. As you may already know, the Spelpaus.se website was formed as a part of the 2019 Swedish Gambling Act to allow players who want to stop gambling for an indicated period to do that.

What is the Status of Sweden’s Online Casino Rule?

At July 2 this year, the government formally implemented the weekly deposit limit of $537 for online casino players. They also enforced the SEK100 Cap for online casino bonus offers, and these two were meant to curtail the harm related to gambling during the Covid-19 pandemic period. But real data did not show the need to put these measures in place. 

Many companies such as Comeon Group have now experienced a significant sales drop from SEK118 million in June to SEK 83 million in August, which is a 29.6% drop. The main factor causing this was the company deciding to shut its two top brands in Sweden. Another major company, the Kindred Group that manages Maria Casino and Unibet also experienced a sales decline from SEK 101 million to SEK 72 million, which is a 28.7% drop.

On the other hand, state-controlled companies like ATG did not experience massive losses because horseracing was not halted in the country like other sports due to the pandemic. Also, no new restrictions were enforced and the company got $SEK522m sales in August, which are 22.2% higher than the June sales. 

The Government’s restrictions in Online gambling 

According to Sweden social security minister Ardalan Shekarabi, the state has put in place measures to help protect Swedish online gambling consumers during the pandemic. These measures include a mandatory weekly deposit cap, and a bonus limit. Players are also required to indicate the timeframes they will be playing the online casino games at licensed Sweden operators. 

Additionally, the state has also given SEK500,000 Funds to the Public Health Authority to enable it to perform extensive research on problematic gambling during this pandemic. This report is expected to be tabled in February 2021 to the ministry of social affairs. The social minister added that the government needs in-depth knowledge of the impacts of the coronavirus pandemic on gambling so that they can take the right steps to prevent addiction to gambling. 

However, the Swedish gambling operators have strongly opposed the government moves. Initially, the government had plans to extend these restrictions to horse racing and sports betting but it was forced to drop it after heavy criticism. Regardless of these betting amendments, most online gambling operators have been advising the state to drop the regulations as it will damage the market and make many players prefer unlicensed players. 

Guide to Choosing a Swedish Online Casino

Check their license and certifications 

There are many jurisdictions for licensing online casinos, but the best are the Malta, UK, and Gibraltar. Ensure your site is licensed as it means it adheres to the law and gives users data and information safer. The best online casinos include CasinoPro.se, and it’s because it adheres to the law and has certificates from the independent testing boards. This means it operates all the games legally, and you are not risking being scammed your money.

Check their game providers and available games

The best casinos work with many gaming software providers such as Microgaming, Playtech, and NetEnt. These are the best companies when it comes to Return to Player Ratio (RTP). They also have hundreds of games, slot titles, poker, numerous roulette, blackjack and baccarat versions, and more. You will also find live games in these dealers that offer you the ultimate traditional casino feel.

Additionally, Sweden boasts of the best game developers, such as NetEent, which was founded in the 1990s. This company has a wide array of exciting and award-winning games as well as progressive jackpots that players enjoy most in online casinos. Don’t forget to check their oasis poker game, which is a traditional game that offers users the opportunity to swap their cards for others; this increases their chances of winning.

Best Payment Options

– Credit and debit cards

– E-wallets

– Direct bank transfers

– PayPal

– Skrill

– Neteller

Getting a licensed online gambling casino in Sweden is one of the best moves if you intend to be involved full time in gambling. Also, the casino should have a wide variety of games and amazing bonuses to enable you to get the best value for your money

Photo source: https://pokerground.com/