Betting in Sweden — The New Swedish Betting Rules:

MGM Grand betting

It is a brand-new year in Sweden, and with it comes a new set of betting laws. All online bookmakers now need to obtain a government license to continue offering their services. This is under process to combat the problem gambling by ensuring that only reputable companies operate within the country. Is it worth your while to try to get into the business of online poker, online betting in Sweden? Have fun reading this blog as you find out what might be ahead for gaming regulations in Sweden. Will these new rules affect you? 

What are the new betting rules? 

The new Swedish gambling rules remain in effect for a while. The new rules apply to all operators such as goslot who wish to provide online gambling services. The regulation aims to ensure a safer environment for players. Also, prevent gambling addiction, and minimize money laundering. To offer their services in Sweden, operators must obtain a Swedish license from the gaming authority Spelinspektionen. The operator must have a registered office in either the EU or EEA to earn a license. Also, must have an existing license (for example, from the UK Gambling Commission). 

Who will the new licensing rules affect? 

The new betting rules will affect all online betting operators targeting Swedish players. The rules also apply to foreign operators who are not licensed in Sweden but offer their products to Swedish players without a licence. The gambling market in Sweden remains in full regulation mode. As a result, you can only find licensed betting sites in Sweden. However, it may be that some offshore betting sites still accept players from Sweden. The government has not yet blocked them, but this is only temporary, and we do not recommend playing at such sites. 

Changes to Betting Laws in Sweden 

The Swedish Government has recently announced a complete overhaul of the country’s gambling laws. This will increase taxation and better protect the population from increasing problem gambling. The most notable change to Swedish betting laws is that operators will be required to obtain a licence from the Swedish Gambling Authority. Any operator that does not have a licence will be blocked by local ISPs, making it impossible for customers to access their sites. There are only a few months left for any licensed operator or bookmaker looking to come into the Swedish market. 

How will the changes impact you as a punter? 

The first thing to say is that the new rules don’t impact you as a punter at all. The only change is that you will no longer be able to use certain banking methods to deposit money into your betting accounts. The good news here is that there are still many options available to you. Furthermore, there are other available options such as e-wallets and crypto-payments. As long as you have a bank account in Sweden (or somewhere else), you can still place your bets as usual. Therefore, your gambling experience is not under threat. 

The effects of betting on the Swedish market 

The new gambling rules in Sweden have significantly impacted the market. There is no doubt that it has created a more stable market for both operators and gamblers. In addition, there has been an increase in betting tax revenue for the government. There was an increase of 17% in tax revenue since the enactment of the new laws. This shows that gambling has increased significantly since it became legal in Sweden. Before, it was only possible to gamble through international operators, but now you can also play on Svenska Spel, owned by the government. 

How much money will government earn? 

Even though it seems to be a lot of money, the Swedish government is not making as much money as you may think. The government’s tax income on betting was only $22 million. This is because the government does not tax all actions in the same way. A company that wants to offer online gambling services needs to apply for a licence from APO (The Gambling Authority). There is a cost involved with applying for a licence, and there is also an annual fee payable. The fee depends on people on the platform. 

The new restrictions expect to generate additional millions in form of taxes collected. Although the gambling companies will lose customers, many Swedes will still be interested in betting. Other Swede players may turn to illegal betting shops for their fix. If anything, this re-regulation might have the opposite effect of its intended goal. A higher level of involvement in gambling with fewer profits for regulated entities. Keeping positive relations with Swedish gamblers is essential. However, we will see in the long run if this strategy will work out or not for the government.