Sweden's Offshore Gambling Operators Taking 25 Percent Share

Published Thursday, November 16, 2017 - Online-Casinos.com
Sweden's Offshore Gambling Operators Taking 25 Percent Share

Sweden has been saying it will regulate its online gambling market by 2019 but as stats have revealed that time line may be too long. Numbers released by Sweden’s gambling regulator, Lotteriinspektionen, revealed that their gambling market experienced a 3% increase in revenue during the first half of 2017. The gambling authority’s half-year report also pointed out that Sweden’s unregulated online gambling market displayed a double-digit growth during the same time.

The calculations provided by Lotteriinspektionen, also exposed the value of the Swedish overall gambling market to be worth SEK 16.5b (US $1.95b) and that international online betting operators had a 25 percent share of that growing market. The fact that international online gambling operators are targeting Swedish players is helping online gambling gain traction in Sweden. The punters in Sweden enjoy the tech aspect in their gaming habits fueling the rise in revenue felt all over the internet betting world. Swedish media consultant Mediavision said gambling ads by offshore gambling operators accounted for 10% of all ads presented on Swedish television in 2016 also adding to the popularity of the pastime.

Sweden is committed to change its monopoly oriented gambling environment with the latest figures revealing how serious this loss of revenue has become in Sweden. In the nine-month period, sales at Svenska Spel dropped 1% year-on-year to SEK6.5bn, mainly due to a decline in land-based gambling, with revenue from this sector down 5% to SEK4.9bn. Online gambling operations at Svenska Spel however climbed 15% to approximately SEK1.6bn.

Last month the Swedish Supreme Administrative Court upheld a ban on local media outlets showing  adverts  for internationally licensed online gambling operators. Lotteriinspektionen director general Camilla Rosenberg said it was expected that media companies will comply with the regulations and warned that those who did not would face penalties.

Media has been blamed for the surge in online gambling interest but the slow road to gambling law reform in Sweden may be the real reason.

 

 

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