SWEDEN’S NEW GAMBLING REGULATIONS
Gambling is a practice which is legal within the countries that form the European Union. There isn’t Europe-wide legislation that covers gambling in all of the countries but there are laws in each state that regulate its practice within their territory. This means that each government has its own law on this subject. Governments want to protect their citizens from the adverse effects of gambling, and therefore many governments are in the situation of re-evaluating gambling policies and creating new regulations within the sector. The main goal of these new regulations and laws is to create a responsible gambling industry and to protect the players. That is the case with the most recent regulatory changes in Sweden.
In Sweden, specifically, gambling has been a common practice that has continued through many centuries. For a long time, there was a state monopoly on gambling. The Swedish Gambling Authority granted permissions to operators that wanted to offer gambling in some form, and it was illegal to offer any form of gambling without such a permission. The market was dominated by Svenska Spel, a gambling company owned by the Swedish state, and ATG (AB Trav och Galopp), owned by the Swedish horse racing associations. There are even four land-based casinos which belong to Svenska Spel. The government created a monopoly to ensure legal use of the gambling services and to reduce illegal practices, in this way protecting the players. The private sector found it very difficult to compete with the state’s gambling industry. Therefore, this is the main reason why a high quantity of private sector companies began to offer gambling services online, aimed at the Swedish market.
These companies, however, are based in Malta or Gibraltar. Because of the EU’s competition rules, they could not be blocked from providing gambling services to Sweden. This, however, created a lack of oversight which the Swedish state felt the need to address.
The new regulations
In 2018, a new law was voted on and has come into effect as of the 1st of January, 2019. This law states that any company that offers gambling services to players in Sweden is required to have a Swedish license. These companies will also have to pay an 18% tax on the profits made from the Swedish market.
This also brings many benefits to the players. The main ones are increased protections for players, such as a central register through which players can exclude themselves from all casinos with a Swedish license if they feel they have a gambling problem. 먹튀검증 It is also required that players be given an easy overview of how much they have played for, won and lost, as well as clear information on terms and conditions. There will be stricter rules on marketing, and casinos will only be allowed to offer one bonus to players – the welcome bonus. According to the main goal and priority is for the customers to have a better playing situation with a law that focuses on their security and protection. This also opens up the country to a more liberal practice of gambling and market competition which ensures, above all else, a safe environment for the players. It’s a way of making a growing market better for the players and companies involved.
To sum up, the new regulation law that Sweden has recently implemented is seeking a change in the policies of online gambling sites with the objective of improving the gambling services for players and businesses alike. The laws are targeted at making gambling safe which is great news for players.