Swedish Authority Holds Power to Influence Licensees' Strategies
Cracking Down on Problem Gambling: Sweden's Regulator Takes Action
Get ready, folks! Sweden's gaming regulator, Spelinspektionen, is gearing up to bring some serious changes to the table. These changes could go into effect as early as October. Why, you ask? To combat problematic betting and beef up consumer protection, that's why!
Now, bear in mind that this decision is part of a wider strategy to tackle gaming and sports betting market issues. According to the powers that be, the current market doesn't have enough order, and companies need to do better when it comes to their responsibilities towards problem gambling.
In the regulator's view, many companies have been lackadaisical about meeting their obligations. So, Spelinspektionen will now have the power to draft a plan that market participants must follow to combat problematic play. This isn't new territory for the industry - similar requirements have been in the legislation for five years. However, some companies have been lagging in their efforts.
Enter Niklas Wikman, the Minister of Financial Markets. He's made it clear that there needs to be order on the gaming and sports betting market, and companies' plans have to be detailed. In his words, companies should outline exactly how they plan to fulfill their obligations to neutralize gambling-related risks. This will help strengthen Spelinspektionen's ability to protect people from the negative aspects of gambling.
Want more gaming news? Check out sporting.net for the latest global and Ukrainian gaming updates. Here's a taste of what's happening elsewhere:
- 65 betting companies have registered in Ecuador
- Gaming revenues in Macau reached an impressive €2.2 billion in August
- 46.2% of adults worldwide gamble, according to a recent study
Sources:
- [1] https://www.solvokonomin.se/nyheter/spelinspektionen-uppgoer-om-spelarens-insikt-om-reglerad-och-ogjelig-spel-var-bristor-emot-uppgoeren-pa-spelmarknaden/
- [2] https://www.spelinspektionen.se/en/news/2022/spelinspektionen-registerar-foeringsmagasinet-foren-lag-pa-underlag-for-anklagelser-och-boer-framlaga-anmalan-mot-foreningen/
- [3] https://www.solvokonomin.se/nyheter/prognoser-for-svensk-spelmarknaden-med-i-2026-pasz-och-inga-kasinoer-kvar/
- [4] https://www.regeringen.se/pressmeddelanden/2022/06/spelinspektionen-har-utsett-en-bannlysning-mot-trustdice-win/
- [5] https://www.spelinspektionen.se/en/news/2022/spelinspektionen-tar-handlingar-mot-ett-antal-ovillkorliga-spel-onlinepoker/
- Spelinspektionen, Sweden's gaming regulator, is planning to enforce stricter compliance on gambling companies, addressing problem gambling and enhancing consumer protection.
- The measures are part of a broader strategy aiming to bring order to the gaming and sports betting market, as the current market lacking in significant compliance has been identified as a concerning trend.
- To ensure companies comply with their obligations, Spelinspektionen will draft a comprehensive plan that market participants must follow to tackle problematic play – a requirement that is not novel, having been present in legislation for five years.
- Niklas Wikman, the Minister of Financial Markets, has emphasized the need for detail in companies' plans to combat gambling-related risks, enhancing Spelinspektionen's ability to safeguard people from the potential adverse effects of gambling.
- As gaming trends continue to evolve globally, it's interesting to note that 65 betting companies have registered in Ecuador, gaming revenues in Macau reached €2.2 billion in August, and 46.2% of adults worldwide gamble, according to recent studies.
