Swedish Casino Gambling Monopoly to End from January 2019

swedish casino gamblingRecently, gambling monopoly ended in Sweden, and now the foreign casino operators are cleaning up the new players.

The monopoly which ran for several years in Sweden where the domestic operators were authorised to lend gambling services to its people. The levels of players using the foreign operators were important, so it made some sense to at least get a nice cut from their revenue by making offshore casino gambling legal in Sweden.

Market Share Shifting Rapidly

While the domestic casino operators have a large share of player accounts, but they are rapidly losing out on the new customers because the offshore casino operators have entered the gambling market.

According to a recent survey conducted in June 2018, 60% of Swedish players have a gambling account where 58% of the accounts are with the domestic gambling operators like Postkodlotterity (the lottery), ATG (for horse racing) and Svenska Spel (for betting).

The remaining 42% accounts are with the offshore operators like for instance Bet365, Unibet and LeoVegas. Although the monopoly has ended in Sweden, 60% of accounts registered in 2017 were with the online operators who don’t possess a valid Swedish gambling license.

In recent times, the offshore gambling operators have been aggressively marketing their brands. Sweden is yet to make an extensive change in its iGaming market. We can expect new changes to be introduced in January 2019. The companies want their brands to be etched in the mind of Swedish people by the time new gambling regulations are rolled out in the country.

The authorities in Sweden continue to clamp down on the gambling-related ads and would continue to do so until new laws come into action. Like for instance, at the beginning of October this year, Nyheter24 which is an online media group was fined for running banner advertisement for promoting international gambling.

As a result of this, several online media sites have changed their policies and are no longer running gambling related ads. Advertising is one of the most profitable avenues in Sweden since the beginning.

Outlet which is a Swedish football news media site is not accepting advertisements from the local as well as offshore gambling operators. The biggest reason could be to restore the integrity of journalism. The company also wants to investigate match-fixing to see if any advertiser was involved in an incident.

Big Changes Coming in Sweden

Most of the countries in the Scandinavian region are overprotective in the gambling sector especially Norway that continues to maintain a state-run monopoly in the industry.

The monopoly in Sweden will end in January 2019. The country received a lot of criticism from the European Commission for its gambling stance. The current monopoly violated many EU laws especially European Treaty which means countries in the EU must allow the foreign operators to apply for a gaming license.

Several offshore gaming operators have been running their business in Sweden without a valid gambling license. The law is ignored, and they were not fined or penalised for doing so. One of the biggest reasons that Sweden is going to end the monopoly is that the number of criminal activities increased due to unregulated gambling offerings.

From now onwards, the Swedish Gaming Authority would look into most of the gambling-related changes and have been vested with enough powers to shut down the illegal and blacklisted casino sites.

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