Regulatory body in Sweden approves legal modifications regarding gambling
In an effort to improve customer protection and combat money laundering, the Swedish government has proposed changes to its gambling law. These changes aim to create a safer legal market and reduce the appeal of unlicensed, offshore operators, thereby mitigating risks associated with money laundering and consumer harm.
The Swedish Trade Association for Online Gambling (BOS) has urged the Swedish Gambling Authority (SGA) to provide clearer rules and faster approval procedures for innovative online casino game types. These games, such as crash games, arcade-style formats, video bingo, and live interactive game shows, currently fall into regulatory grey areas, potentially weakening licensed operators' competitiveness and consumer protections.
By ensuring these new games fit unequivocally within the legal definitions of the Swedish Gambling Act, the regulatory framework would become clearer, allowing licensed operators to offer attractive and safer products faster. This clarity supports better customer protection by ensuring that all gambling products meet established regulatory standards and are subject to monitoring.
Improvements in licensing and enforcement powers since 2019 have enabled the Swedish Gambling Authority to impose stricter oversight. This includes the ability to block unlicensed domains and payment providers, which strengthens anti-money laundering measures and limits illegal gambling activity.
The transition towards a fully digital gambling market by 2026 allows more direct regulation and monitoring of gambling activities, enabling tighter controls to prevent money laundering and protect customers in online environments.
The proposed changes also aim to further punish violations of anti-money laundering regulations, with gambling companies facing higher fines in the future for such infractions. To ensure the safety of players, providers are to be given the opportunity to access their personal financial and health data.
The Swedish government plans to increase the current tax rate for companies in the gambling industry from 18% to 22%. However, the Swedish gambling association has shown little understanding for this tax increase.
The proposals for changes to the Swedish gambling law were submitted to the legislative council a few days ago and, if approved, could come into force as early as April 2024. The law is set to come into effect in July 2024.
Camilla Rosenberg, General Director of Spelinspektionen, has welcomed the proposals in the bill that allow for further measures to strengthen the regulation of the gambling market. These efforts aim to enhance customer protection by ensuring safer, licensed gambling experiences, while improving anti-money laundering safeguards through clearer regulations, faster approvals, and stronger authority for the regulator.
References:
[1] "BOS calls for clearer rules and faster approval procedures for online casino games in Sweden." Gambling Insider. 15 January 2021. www.gamblinginsider.com
[2] "Sweden to become fully digital gambling market by 2026." European Gaming Media and Events. 18 February 2021. www.europeangaming.eu
[3] "Swedish Gambling Authority strengthens anti-money laundering measures." European Gaming Media and Events. 1 March 2021. www.europeangaming.eu
The Swedish Trade Association for Online Gambling (BOS) has encouraged the Swedish Gambling Authority (SGA) to provide clearer rules and faster approval procedures for innovative online casino games, such as crash games, arcade-style formats, video bingo, and live interactive game shows, falling into regulatory grey areas in Germany, a key online casino and gambling market. Such changes would support better customer protection by ensuring these games are subject to established regulatory standards within the context of online casino-and-gambling businesses.
The Swedish government's proposals for changes to its gambling law aim to further combat money laundering and consumer harm by strengthening its regulatory framework, including through increased taxes on the gambling industry. By enforcing clearer rules and stricter oversight, the law would promote finance responsibly and contribute to gambling-trends that prioritize player safety and reduce the appeal of unlicensed, offshore operators.
