Any gambling industry from any part of the world is required to follow a set of rules and regulations. These tend to vary from one country to the next. However, one thing they have in common is that they could be confusing to comprehend.

This post will cover more about the rules and regulations governing the Swedish gambling industry. Additionally, we will discuss how these gambling regulations are affecting the industry as a whole.

Swedish gambling market

The Swedish government has always regulated the gambling industry – even before the rise of the internet. That is true because, for a long time, the State-owned monopoly controlled the entire gambling industry.

Sweden has three government-run land-based casinos, and they started offering online gambling services with the rise of the internet. There have been adjustments and re-adjustments in the gambling industry in Sweden; however, the laws governing gambling have remained rather strict, especially for independent companies looking to take root in the Swedish gambling industry.

The changes in gambling laws have had a huge impact on the Swedish gambling industry as a whole. But before we get into the effects, it is important to understand the history and changes in the gambling regulations in Sweden.

Gambling regulations in Sweden

As mentioned earlier, the Swedish government has a set of strict rules and regulations to govern gambling. Here is a breakdown of the gambling legislation in Sweden.

The Gambling Act

We can all agree that the Swedish gambling market has been messy for many years. The gambling act always made sure that the government controlled all gambling in Sweden. There were only state-owned gambling companies, which could allow gamblers to play for money.

However, the introduction of the internet and the growth of online gambling allowed Swedish gamblers to play in overseas gambling sites. That put the gambling act out of the system and was bound to undergo some changes. The law was amended and new legislation was added – allowing licenced gambling companies to operate in Sweden. The Swedish comparison site Spelaspel works hard to ensure that they only promote casinos with a Swedish licence.

The new gambling act was introduced in 2019 to ensure a gambling company can operate in Sweden if they have a licence and complies with the set regulations. There is a wide range of reasons why the change in the gambling act was necessary. For instance:

• The Swedish gambling authority needed to recognise the unregistered gambling market. As we all know, online gambling in Sweden became legal in 2002. Therefore, the Swedish online gamblers were operating on an unregistered market for more than 15 years.
• The changes ensured the country could benefit from millions of money in taxes collected from both the gambler and gambling industry.
• According to the new legislation, the Swedish gambling authority reserves the right to approve or disapprove any form of gambling, whether online or offline. The body also imposes strict regulations on responsible gambling to protect the Swedish players.

In addition to the changes above, the gaming authority introduced additional clauses against match-fixing and money laundering. The match-fixing act is designed to prevent the manipulation of sports events for gambling benefits. In contrast, the money laundering act aims to curb money laundering and prevent any deviation in the business.

Effects of the Swedish Gambling Regulation on the industry

Here is how the Swedish gambling regulation has affected the industry.

Safer market for gamblers

Without any doubt, the Swedish gambling regulations have improved gamblers’ security, whether online or offline. A Swedish gambler wouldn’t know what they are getting themselves into when signing up for an online gambling site with an unregulated market.

However, the Swedish Gambling Authority has made sure all the gambling companies in Sweden are licenced and comply with the set rules and regulations. Meaning the gamblers have a safer market to play their favourite games for money.

Increase in the number of gamblers

Another notable effect of the Swedish regulation on the gambling market is the increased number of players. As we mentioned earlier, the new regulations allowed licenced gambling companies to operate in Sweden. That provides gamblers with a wide range of options to choose from.

Additionally, the majority of the gambling companies provide incentives such as a casino bonus and other promotions like cashback or free spins to attract new players. The idea of welcome bonuses and free bets has convinced more Swedish players to start gambling, thus increasing the overall number of gamblers.

Growth of the Swedish gambling industry

With the new legislation, the Swedish gambling industry has seen steady growth due to two primary reasons: an increase in the number of gamblers and better advertising channels. Gambling companies can advertise their services openly and freely now, provided they are licenced and comply with the regulations set by the relevant authorities.

With better marketing channels, these companies have enticed more players to sign up for their services, ensuring the growth of the Swedish gambling industry.

Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.gamcare.org.uk/.