Sweden changes the rules of the gambling market

Sweden changes the rules of the gambling market

Reorganization of the gambling industry market in Switzerland On June 7, Sweden passed a law to reorganize the gambling industry, allowing international operators to acquire a license and operate in a regulated field. The document will take effect from 01.01.2019. It will replace the current Casino Law and the Swedish Lottery Law, according to which only a few state operators have the right to provide gambling services. With the adoption of the updated law, such a monopoly will be abolished.

Under new Swedish legislation, international companies must provide proof of compliance with the new rules in order to obtain a license to provide gambling services.

It is worth noting that Sweden has long focused on foreign gambling operators. This is due to the high popularity of gaming services among Swedish customers. In turn, Swedish lawmakers and regulators have also long criticized operators for their tax-free activities, as well as a rather aggressive advertising campaign in the local media. It is noteworthy that many companies are of Swedish origin, but registered in other countries. Some of them spent tens of millions of dollars on advertising last year. With the passage of the new law, unregulated operators will not be able to advertise their services in the Swedish media. According to experts, the unregulated market occupies 25% of the entire gambling industry in Sweden.

As a reminder, the Swedish regulator will begin accepting applications for a gaming license from 1.08.2018.

Author: Ivanov Harlam Ivanov Harlam | Last update: 11.06.2018

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