Sweden will open the gambling market to competition on 1 January 2019.
Category: Casino Offers.
In our western neighbor, Sweden, the winds of change are blowing, as Sweden will open up the gambling market to competition in early 2019.
This means that international online casinos and betting sites are free to market their products in Sweden if they have been granted a gambling license by the authorities.
Gambling licenses in Sweden are issued by a purpose-built gambling authority called the Lotteri Inspektionen.
Currently, Sweden’s only licensed gambling company, Svensk Spel, made a profit of SEK 11.2 billion in the financial year 2016-2017, or roughly EUR 1.12 billion. It is estimated that about 25% of the revenue goes to international gambling sites.
The gambling tax will be 18% in Sweden, so the new licensing system will bring additional revenue to the Swedish Treasury.
For the sake of comparison, it can be mentioned that Veikkaus made a profit of EUR 1.02 billion in Finland last year with a turnover of EUR 3.23 billion. Finland has a population of about 5.5 million and Sweden about 9.9 million. Thus, Finns play considerably more games of chance than our western neighbors. So our gaming monopoly does an excellent job.
At present, Lotteri Inspektionen has already licensed 60 different gambling operators. There may be significantly more online casinos and betting sites in Sweden, as one operator may have several different brands under which they operate.
The Swedish licensing system has little effect on the operation of international gambling sites, as even today, for example, gaming sites licensed in Malta comply with the rather strict requirements imposed on them by the Maltese authorities. Admittedly, some operators may need to make small changes to some marketing materials.