Ever since the 16th century, gambling has been an integral part of Swedish culture. This can be seen through a variety of gaming options, ranging from traditional pastimes like card games and dice to more modern-day offerings, such as online casinos and sports betting. Sweden even has a regulatory authority, the Swedish Gambling Authority (Spelinspektionen). This governing body is responsible for issuing licences to operators, monitoring their activities and enforcing regulations.
A tried-and-tested means of entertainment
Sweden’s gambling history undoubtedly reflects the underlying socio-economic factors that have influenced its society over time. From its early days as a maritime power rich in trade to its current status as a prosperous welfare state, gambling has remained steadfast in Swedish culture. In fact, it is a tried-and-tested means of entertainment and social interaction. Today, Sweden’s gambling industry is regulated by a comprehensive legal framework that accommodates both land-based and online gambling operators.
With a population of over 10 million, Sweden is one of the most lucrative gambling markets in Europe. However, despite its popularity and economic benefits, gambling addiction has become a growing concern in the country. Indeed, it has prompted the government and operators to implement responsible gambling measures.
A new framework
In January 2019, the Swedish government adopted a new framework for gambling regulation. This aimed to increase consumer protection, combat illegal gambling, and promote responsible gambling. Svenska Spel, the state-owned company, currently holds a 49% market share of land-based casinos, lotteries, and sports betting. Private operators such as Betsson and Kindred Group also play a significant role in the market.
However, since that regulatory change, competition has increased, and Swedish gambling has faced challenges. Those regulatory changes have not been without controversy, with some operators arguing that the taxes levied are too high. Therefore, it is difficult for them to compete with Svenska Spel. Furthermore, although that regulatory framework reduced the number of unregulated gambling providers, they were not eliminated.
In July 2023, Swedish gambling laws will change again. All providers will need a Swedish licence to operate and payout winnings. The aim is to protect consumers and promote responsible gambling.
Online gaming revenue
Today, the Swedish gambling industry is a major contributor to the country’s economy, annually generating billions of kronor in revenue. In 2022, the market was valued at SEK 27 billion, with the majority of the revenue coming from online gambling. The industry offers a wide variety of gambling activities for players to enjoy, ranging from traditional casino games to sports betting and lotteries. Sports betting is one of the most popular form of gambling in Sweden. There is a wide range of sports and events available. The most popular sports to bet on include football, ice hockey, and horse racing.
Strict guidelines
In accordance with Swedish law, the legal age for gambling is 18 years old for online gambling and 20 for land-based casinos. Operators must adhere to strict guidelines regarding advertising, player protection and responsible gambling measures. Additionally, the Swedish government has also introduced several measures to enhance player protection. It provides self-exclusion services known as SpelPaus and other responsible gaming tools to ensure your safety and protection.
To find out more about gambling in Sweden, you can find more interesting facts on this Swedish gambling site.