While online gambling is just a fun hobby for many, it requires a degree of monitoring to make sure it is safe. Because of the risks associated with gambling, it’s important that appropriate regulations are in place. Countries such as the UK have long had strict gambling laws. In contrast, Scandinavian nations like Sweden have been slower to catch up, only implementing the new 2018 Gambling Act (2018:1138) in 2019, for example. However, the Swedish gaming market is now very different, since the act passed.
The new law introduced a raft of new regulations, demanding licensing for all gambling companies. Once licenced, they can only operate if they follow the rules to the letter. This is generally seen as a positive step forward, but what has this meant for the industry as a whole?
Major industry effects
Undoubtedly, the Gambling Act has had pretty big ramifications for the Swedish gaming industry — especially the licencing requirement. Consequently, any established gambling companies in Sweden have placed operations under government scrutiny for legitimacy. Additionally, they have implemented a host of fairness and anti-money laundering practices.
Meanwhile, new companies wishing to break into the market need to consider if they are confident enough to go through the costly licencing process. Moreover, all gambling companies now have to pay full taxes to the Swedish Treasury. These costs can be passed down to the customer.
Perhaps the biggest issue lies with industry concerns that the Swedish government has effectively taken complete control of the iGaming market — implementing more restrictions on what players can actually do.
Nevertheless, public and industry alike generally see these changes as being for the overall the benefit of the players. It places them on solid ground for a simpler, safer gaming experience.
Advertising has changed
Alongside this dramatic change to the Swedish gaming sector comes changes to the marketing of online gambling sites and other platforms. Because the sector is under greater government oversight, marketing strategies have had to change too. For example, marketing has had to swiftly modernise, to meet the safer gambling culture promised by the new law.
Keeping it safe
Generally, for players all of this is a blessing. Stricter regulations mean players have greater legal protection and can relax when they gamble online. They can enjoy regulated sites, better games, and more security in their transactions. Surprisingly, this hasn’t hampered market growth in the industry either.
More new casinos are opening their virtual doors in the Swedish gaming market each year. There are now top casinos available, including the likes of Chanz, Dunder and Lillo. These are just some of the big names who now have a Swedish profile. They seem happy to operate under the clear, concise regulations now in place.
Unregulated casinos grow in Sweden
Unfortunately, the new law has not done as much to tackle unregulated gambling as the legislators hoped. In fact, experts think that the size of the unregulated casino sector is double that of official estimates. Ironically, part of this is a direct result of the new regulations. Some gamblers like an illicit thrill while they play. Despite the regulations providing more safety for players, many feel that official oversight takes the fun out of it.
Dissenting players complain that regulations have restricted deposits. They have also reduced betting on football leagues and other constraints. Thus, unregulated sites become more attractive. Operating outside the law, they can offer better bonuses, more betting options and other features when compared to the regulated sites. For the Swedish view, read more at casinoutanspelpaus.io.
