On January 1, 2019, the lawmakers from Sweden voted on a new Swedish Gambling Act. It offered a completely new perspective on gambling, paying particular attention to online casinos and sports betting platforms. So, what did it change?
Essentially, before this act, two companies held the entire industry — Svenska Spel and AB Trav & Galopp (ATG). Apart from them, only some non-profit organizations were allowed to run gambling activities. However, all of that changed with the introduction of the Swedish Gambling Act.
Private operators are now allowed to offer their services in Sweden. The only thing they’re required to do is apply for the licence and pay for it. If everything goes well, they will receive a permit, and Swedish players will be able to play their games.
This is not the only change that the Swedish Gambling Act brought about. Here’s a short overview of all the changes:
- All companies that run commercial gaming ventures are required to pay 18% tax.
- Non-profit gambling activities don’t have to pay tax.
- Players can only join one licensed casino and claim one welcome bonus.
- The SGA listed as many as six types of gambling licences.
- To get the licence, operators must pay between 400,000 and 700,000 SEK.
- Although players must be 21+ to play in a land-based casino, they can legally join an online gambling platform as soon as they turn 18.
- Players have an option to pause their accounts on all online gambling platforms.
- Slots must have 3-second delays between every spin.
- Players must use the same payment method to deposit and withdraw money.
The Swedish model proved very useful, and the changes that the SGA proposed took off pretty well, receiving lots of positive feedback.
Most Important Piece of the Puzzle — Spelinspektionen
To answer the question from the title, we also must mention the essential part of the machine — Spelinspektionen. Translated literally, it means Game Inspection, but that’s just a fancy name for the Swedish Gambling Authority which makes sure that all gambling activities — be they land-based or online — are conducted in a safe, legal, and reliable way.
SGA is one of the most reputable regulators in the world. Simply put, the way they conduct business and make sure that Swedish players get the best possible gambling experience is nothing short of ground-breaking. The organization continues to push the boundaries by upgrading regulations and coming up with all kinds of rules that make the gambling sector in the country better.
Many countries around the globe still struggle to come up with a good online gambling legislature. Although Sweden is not the only country out there that came up with an innovative gambling act, it’s definitely one of the few that makes sure everything is in order. That’s why many lawmakers in the world study the Swedish model, trying to come up with a version of their own that would make both operators and players happy.