Gambling Regulations in Sweden
Despite the consistent sanctions against gambling in the European countries, many of the players have had to play on platforms that are licensed in other countries. Sweden has been among these countries, which for years sustained a strict policy against gambling.
However, in 2019, the country introduced new policies, which we can only hope that other countries such as Israel and Norway, can emulate. Here is an overview of what the Swedish government, as well as the players, can gain from the new gambling regulation.
The Entry of Gambling Private Operators in Sweden
For many years, gaming enthusiasts could only access gambling services through the government-owned Svenska Spel Company. It has been a monopoly, offering services in sports betting, casino games among others. The 1st of January, 2019 came as good news to the Swedish citizens since the government allowed private operators to launch their businesses. Nevertheless, some companies had been running the business secretly. In fact, by 2018, the underhand players had amassed a 29% share in the vibrant Nordic market.
The decision to allow these private operators in the market was guided by the need for more tax revenues by the Swedish government. In the new reforms, a Swedish gambling authority or Spelinspektionen was constituted to assess and approve private businesses. Since January, this body has given the mandate to more than 100 companies to run the gambling business with Swedish citizens being allowed to subscribe to the services.
Wins for the People and Government
After the government decided to allow the private players, there has been reduced monopoly, which is a positive thing to the industry. The Nordic market has realized healthy competition among the companies. Among the primary beneficiaries of these reforms are the Swedish citizens who have a variety of choices. They can select companies with the best bonuses from an online list on the casino websites or read more at Casino Sverige.
No doubt that the expansion of businesses is a benefit to the Swedish government as well. For instance, all private operators must remit taxes. If more companies emerge, the government gets a more extensive tax base. In this case, the Swedish government has a policy that compels all private operators to pay an 18% tax upon their profits that they collect from customers. This is an annual plan which is expected to turn around the next budget according to the anticipated tax revenue.
Player Protection under the New Swedish Law
The gambling sector can be detrimental to a nation if the law does not protect players. It is one of the industries that most governments have difficulties overseeing their operations. However, the Swedish government has coined sufficient reforms to ensure that the gamers are protected from the industry malpractices while giving them the freedom to make personal choices. The basic policy by the government is to issue licenses to operators. Those who are found in business without licenses are subsequently banned. The regulating authority can also restrict transactions between gamers and unscrupulous operators.
The reforms are barely a year old, and the Swedish gambling sector hopes to institute more rules to protect players. For now, Spelinspektionen has put in place strict laws that force gambling businesses to protect players. Among the protection, guidelines are to grant players the self-exclusion option.
Positive Signs of Success
The introduction of gambling reforms in Sweden is still an issue in the initial stages. The experimental process is still going on. In the short term, there are indications that it will be a successful venture to have numerous operators carrying out gambling business in Sweden. In the long run, the various stakeholders are still speculating how the laws will influence the market and whether Sweden would be the best example of the many countries in the world.
The increasing registration and licensing of operators is a clear indication that the reforms will work. It is only a matter of time to realize more revenues and public protection success which are the main factors that other countries are looking out for. It is still 2019, most probably in 2025, there will be sufficient progress to render Sweden as an ideal benchmark for gambling.