The recently proposed changes to the Swedish gambling law were greenlighted by Camilla Rosenberg, Spelinspektionen director-general, as their main focus is stronger customer protection. According to the published proposals, operators offering telephone-based gaming would be requested to obtain written approval in advance from consumers, but will also be granted the right to access one’s personal finance and health data, for the purpose of preventing excessive gambling.
These measures represent just one of the many steps which are to be taken in the upcoming period, related to Swedish Gambling Act modification. The amendments welcomed by the Spelinspektionen’s official, they have been referred to the government’s legislative council and are expected to come into force from April 1, 2024.
Notable Changes to the Swedish Gambling Act
Modifications that will go live starting at the beginning of April this year were published by Regeringskansliet, the government office that supports lawmakers in Sweden. Perhaps one of the most rigorous changes is the one involving the Money Laundering Act. The operators found in violation of the said Act will be entitled to pay higher fines.
Camilla Rosenberg commented on the amendments as follows:
“We welcome the proposals in the referral that enable further measures to strengthen the regulation of the gaming market. It is also gratifying that the government has now heeded the Gambling Authority’s proposal to raise the sanction ceiling for violations of the Money Laundering Act.”
The modifications in the Money Laundering Act were among the burning issues due to current regulations which define that fines for those that violate the Money Laundering Act are lower than for violations of the Gambling Act. As far as Regeringskansliet explained, these changes will result in “harmonized” penalty fees, resulting in improved player protection.
Continuous Upgrades on the iGaming Market
This has so far been quite a busy year for the local market, as supplier licenses came into force on July 1, 2023. Also, the gambling regulator Spelinspektionen was granted new enforcement powers.
Two months ago, in September, the gambling tax rate increased from 18% to 22% of gross gaming revenue was proposed by the government. This change should become effective in July 2024.
Earlier this month, Spelinspektionen called for a ban on the use of credit cards for gambling to mitigate the risks of gambling-related financial difficulties. Although the ban itself hasn’t come into force yet, the regulator is still analyzing the effects of similar changes that the UK and Norway have previously made.
Figures Display Stagnations
If things are to be judged by the most recent stats, Sweden’s gambling market has stagnated, according to the latest figures record no growth for Gross Gaming Revenue (GGR). Compared to Q2 2023, the GGR from licensed operators reached SEK6.7bn (£498.8m/€573.8m/$611.1m) in Q3, which represents a decline of 0.6%.
On the other hand, the fact that by the end of Q3, 99,000 people had registered for Spelinspektionen’s voluntary self-exclusion scheme, Spelpaus.se confirms that consumers have started realizing the importance of staying responsible. Compared to the previous quarter, there’s an increase of 4%.
Source:
“Spelinspektionen welcomes Swedish Gambling Act amendments”, igamingbusiness.com, November 20, 2021.
Cinderella
11 months ago
Hero Member
regulations and laws need to be revised continuously, so to ensure fair and transparent conditions for both operators and players.
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