Sweden's Svenska Spel Online Gambling Fears Exposed

Published Tuesday, August 15, 2017 - Online-Casinos.com
Sweden's Svenska Spel Online Gambling Fears Exposed

A few months ago the Swedish government made the decision to scrap the monopoly on online gambling in Sweden. A government-appointed commission was set up in 2015 to review the Swedish gambling industry and report on possible changes to improve tax revenue and offer more selection for online gambling players.  Offshore online casinos have been infiltrating the gambling market in Sweden and not paying associated taxes or licensing fees.

The state owned and regulated gambling company Svenska Spel is experiencing growth with Swedish households spending 2.3% of disposable income with Svenska Spel. Unregulated online betting saw larger expansion which increased by 16% last year.

Now after reviewing the results of the review there has been new development. Svenska Spel has issued its own regulatory recommendations via the Swedish media outlet, Dagens Samhälle.  Fredrik Schulte who is a member of the Swedish Moderate Party has labelled Spel’s input as ‘serious mischief’ and is concerned the monopoly holder Svenska Spel is trying to sway the politicians into accepting the favoured position of the government’s online gambling provider.

The government run gambling provider’s CEO, Lennart Käll and Chairman, Erik Strand responded by pointing out the two areas that need attention when creating new legislation for gambling. The business men were of the opinion that the minimization of problem gambling risks and the introduction of effective mechanisms to combat illegal gambling were the main issues to contend with. They also said in the news article that offshore firms offering online gambling services and products should be fully vetted before being granted a license to operate from the country’s regulator.

As it stands now Svenska Spel is the only authorised operator of online gambling services in Sweden and have been taking profits from the local market prompting Svenska to ask for a ‘fair set of regulations to create fair competition’. It will not be until early 2019 that the new regulations will come into effect.

 

 

 

 

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