2024: A busy year for Sweden’s gambling sector

News Team 1 month ago
2024: A busy year for Sweden’s gambling sector

2024 has been a busy one for Sweden’s gambling sector, which saw the closure of land-based Casino Cosmopol in Gothenburg and Malmö in a bid to cut ever-increasing losses. Earlier this year the Swedish Gambling Authority (SGA) and the International Betting Integrity Association (IBIA) signed a deal to counteract match-fixing and renewed its cooperation with the UK Gambling Commission. The SGA has also banned a number of operators deemed to be operating illegally in Sweden. During the first quarter, the SGA reported that online gambling had a turnover of SEK 4.3bn (€372m), the highest figure for a first quarter since the licensing system was introduced five years ago.

Efforts to enhance gambling safety

In 2023 the Swedish government pledged to boost funding for the Swedish regulator over the next three years. Operators, as well as Swedish trade association BOS, have repeatedly called for stricter enforcement against black-market operators.

The Swedish Ministry of Finance, supported by the Swedish Gambling Authority, is proposing a total ban on the use of credit cards for gambling purposed. The proposal aims to prevent license holders and gambling agents from facilitating or allowing credit card payments for gambling activities. In response to the proposed ban, the Swedish Trade Association for Online Gambling (BOS), in a bid to prevent illegal or unlicenced gambling companies from profiting from this ban, has proposed that “the obligation not to mediate payments for gambling purposes be imposed on those issuing credit cards. In this way, it will be prohibited for credit card issuers, under the supervision of the Swedish Financial Supervisory Authority (Finansinspektionen), to mediate payments via credit cards for all gambling companies, even illegal and/or unlicensed gambling companies.”

Avoiding black-market operators

The BOS proposal ensures that Swedish players will not face the temptation of playing with operators without a Swedish licence, as there would be a blanket ban on all operators and not only licence-holders.

In light of the SGA’s ongoing efforts towards online gambling safety, Swedish players seeking secure and licensed online casinos can rely on SveaCasino for peace of mind. As the largest casino guide in Sweden, SveaCasino has been meticulously reviewing and comparing Swedish casinos, games, and slots for over a decade, ensuring players access bonuses and free spins exclusively from gambling sites holding Swedish gaming licenses.

In a sector of the gambling industry that is clearly thriving, players can rely on SveaCasino’s extensive expertise and commitment to promoting safe and licensed gaming experiences. 

Upcoming SiGMA event: The SiGMA East Europe Summit 2024 will be held in Budapest this September.

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