Swedish Online Gambling Demand Growing

Published Friday, May 19, 2017 - Online-Casinos.com
Swedish Online Gambling Demand Growing

The change in the laws regarding online betting has been slow in coming in many parts of Europe and Scandinavia with certain jurisdiction holding out on reforms that comply with international e-commerce business standards set by the European Commission.

Politicians are seeing the advantages of a regulated betting industry and are complying slowly but surely. Sweden’s Svenska Spel’s online monopoly is soon to be reformed and a new market created. Since 1994 when the Swedish Lotteries Act was introduced the Swedish gambling industry major tenets are the restriction of foreign gambling entities inside Sweden's boundaries and the prohibition of Swedish gambling enterprises outside of the country. This is done with the intent of keeping profits at home, where they directly benefit the government.

Historically the government has kept a tight grip on internet betting in Sweden. Svenska Spel maintains control over online gambling and if Svenska Spel decides it will comply and open its doors to the rest of the operators who pay the fees there will be better choice for punters in Sweden. The law in the jurisdiction makes it hard and risky for citizens to participate in online games offshore.

However recent figures released by the gaming regulator in Sweden Lotteriinspektionen have indicated that there are more punters turning to offshore international operators. There was local activity decline at the state-owned online monopoly operator Svenska Spel, which revealed sales had fallen 5% to SEK 2.16b. due to its land-based operations, which declined 9% year-on-year, while internet gambling operations rose by 6%. Again the same trend was noted in the horse racing sector with online activity up by 10 percent and terrestrial revenue declining by 10 percent. The lid will eventually come off the cookie jar in Sweden and the consumer is pushing the demand for more online products.

 

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