New Gambling Regulations in Sweden and its impact on the sports industry
Sweden has always been known for its restrictive policies regarding gambling and betting activities.
The recent gambling regulations in Sweden
have led to a new scope in the betting and gaming Swedish betting market, allowing new international betting companies to take a piece of the cake and compete with the old monopolies of Svenska Spel and AB Trav & Galopp (ATG).
Now, interested companies can apply for a license in order to provide gambling online services to Swedish customers. However, there are confronted opinions whether this panorama will affect the sports industry positively.
Sweden’s betting situation before The Gambling Act
Until now, Sweden did not allow any betting companies to operate in the country. The two monopolies used to take all the benefits or at least that is what they thought. At the same time, there was a huge “grey market” growing full speed generated by international operators from abroad. International betting companies holding licenses from countries such as Gibraltar of Malta acted on the basis of having the right to provide services within the EU territories.
Even though it was relatively legal for these operators to provide their services in Sweden, they weren’t holding a legal Swedish license. Different statistics from the Gambling authority revealed that over $2,500,000 of the total turnover came from international operators without a legal local license. Consequently, the government decided to implement legislative changes and create new laws to moderate the gaming market in Sweden and protect customers.
The best guide about bettingsites in Sweden
There are many different factors to consider when spending your own savings to gamble. This is one of the reasons why the government advice customers to do some research before betting, so they choose a legal and suitable operator. Bästabettingsidorna.se
is one of the sources available to find the most suitable gambling operators with a proven history in this industry. As a result, taking some time to compare the kind of service each operator will offer, customers will reduce the change of betting with operator without a Swedish license.
About the Gambling Act and the new situation in Sweden
The new Swedish Gambling Act was voted in by Parliament on the 14th of June 2018 and came into effect on the 1st of January 2019. The purpose of the Gambling Act is to create a legal betting panorama and to offer secure betting opportunities to Swedish residents.
Any company willing to offer its gambling services in Sweden must follow a certain process:
1. Apply for a legal Swedish license
2. Apply for a certification for their technical solution by a Swedish accredited body before July 1 (2019).
Since the new betting market regulations were implemented, about 88 online gambling operators applied for legal license and 60 were given approval to continue with the process to operate in Sweden. As a result, the government will have better control to moderate betting and gambling markets and to prevent illegal operators in the country.
If you are a betting operator or a Swedish resident you can visit Spelinspektionen
to obtain further information regarding The Gaming Act and license acquisition.
Gamblings in sports and betting operators
As it is now possible to obtain a Swedish betting licence, a wide range of competitors will start operating in the Swedish gambling market and also in sports betting. This is clearly a time for big changes as the national sport industry will introduce a new player to the game: sponsorship by gambling operators. Many sport teams see this situation as a new opportunity to find sponsors and are willing to accept some help as they are not operating in a “grey” market anymore. However, some sports organizations refuse to accept money from gambling activities.
In any case, The Gambling Authority will be in charge of implementing strict measures to avoid fraud and match fixing.