Betting in Sweden – The new Swedish betting rules:
It is a completely new year in Sweden, and with it comes a new set of game laws. All online bookmakers now need to obtain a government license to continue offering their services. This is under process to combat the problem of gambling by ensuring that only reputable companies operate within the country. Is it worth the effort to try to enter the industry with online poker, betting online in Sweden? Have fun reading this blog when you find out what may be waiting for the rules of the game in Sweden. Will these new rules affect you?
What are the new rules of the game?
The new Swedish rules of the game apply for a while. The new rules apply to all operators such as goslot who want to provide online gaming services. The regulation aims to ensure a safer environment for players. Also prevent gambling addiction and minimize money laundering. In order to be able 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 the EEA to obtain a license. Must also have an existing license (for example from the UK Gambling Commission).
Who will the new licensing rules affect?
The new gaming rules will affect all online gaming 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 license. The gaming market in Sweden is still in full regulation. As a result, you can only find licensed betting sites in Sweden. However, it may be the case 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 on such sites.
Amendments to the Betting Act in Sweden
The Swedish government has recently announced a total review of the country’s gambling laws. This will increase taxation and better protect the population from increasing problem gambling. The most notable change in Swedish gaming legislation is that operators will need to obtain a license from The Gaming Authority. All non-licensed operators will be blocked by local ISPs, making it impossible for customers to access their websites. There are only a few months left for a licensed operator or bookmaker who wants to enter the Swedish market.
How will the changes affect you as a tipper?
The first thing you can say is that the new rules do not affect you as a tipper at all. The only change is that you will no longer be able to use certain banking methods to deposit money into your gaming accounts. The good news here is that there are still many options available to you. In addition, there are other options available such as e-wallets and cryptocurrencies. As long as you have a bank account in Sweden (or elsewhere), you can still place your bets as usual. Therefore, your gaming experience is not threatened.
The effects of betting on the Swedish market
The new rules of the game in Sweden have affected the market significantly. There is no doubt that it has created a more stable market for both operators and players. In addition, there has been an increase in gaming tax revenues for the state. Tax revenues increased by 17% since the new laws came into force. This shows that gambling has increased significantly since it became legal in Sweden. Previously, it was only possible to play through international operators, but now you can also play at Svenska Spel, which is owned by the state.
How much money will the state make?
Even though it seems like a lot of money, the Swedish government does not make as much money as you might think. The government’s tax revenue on betting was only $ 22 million. This is because the government does not tax all documents in the same way. A company that wants to offer online gambling services needs to apply for a license from APO (The Gambling Authority). There is an additional cost for applying for a license, and there is also an annual fee. The fee depends on the people on the platform.
The new restrictions are expected to generate additional millions in the form of taxes collected. Even if the gaming companies will lose customers, many Swedes will still be interested in betting. Other Swedish players can turn to illegal gambling shops to fix it. If anything, this re-regulation may have the opposite effect of the intended goal. A higher degree of engagement in games with fewer wins for regulated entities. Having positive relationships with Swedish players is important. However, we will see in the long run whether this strategy will work or not for the government.