Sweden Expands Regulated iGaming Market

A huge series of new online gaming and betting licenses has been issued by the Swedish Gambling Authority or Spelinspektionen.

So, in a newly regulated Swedish online market, officially launched at the beginning of January 2019, there will be a total of 65 approved licenses. Five new companies have been added to the list…

…and it is not even the end of the first month that Sweden officially opened its online gambling market.

New Players on the Market

One of the new companies that obtained a Swedish online gaming license is Dreambox Games that will offer their services via Chanz.com. The other one is Ellmount Gaming…

…that has gained approval to operate via their Casinoroom.com website.

The next one is Legolas Invest which will launch two domains: Legolas.bet and mobile.legolas.bet.SpeliSpelinspektionen

The last two new players on the Swedish market are Pixel with their Pixel. bet website and More Tech Group that will offer their services via Superlottoclub.com.

These five companies have joined GVC Holdings, Stars Group, LeoVegas, Unibet, Bet365, and Betsson Group among others that have already obtained licenses to operate in Swedish online market. More operators are expected to join them by the end of 2019.

Strict Rules

According to their official site, the Swedish Gambling Authority is the authority or a regulatory body, which has been given the task of ensuring the legality, safety, and reliability of the Swedish gaming and gambling market.

There are certain rules that all licensed companies and the ones with pending approvals must abide. One of them is a new self-exclusion rule that was recently introduced.

What Does It Mean?

The new regulatory body rule says that all internet users that don’t wish to participate can block themselves from online gambling…

…and all licensed operators have to make sure that their services are not accessible to those people.

If the operators don’t follow the strict rules, they can get a financial penalty or even worse, they can completely lose their license to operate in Swedish online market.

No Temporary Licenses

Spelinspektionen also has a rule that they will not be issuing temporary licenses, so all the new companies that wish to join the market have to wait to get their license approved. There is no trial period for any new operator and if the operator gets rejected then the decision becomes definite.

Big Names on Board

As soon as Sweden launched their online gambling market on January 1st of 2019, many big names decided to jump on the bandwagon and join the growing flock of licensed Software companies. Playtech, the world’s largest gaming supplier from the Isle of Man had to be a part of these revolutionary changes in Sweden…

…as well as Microgaming and Pragmatic Play.

“Sweden is a significant market for Microgaming and we are thrilled to offer our operators in the region a fully integrated solution to ensure compliance in line with regulations set by the Swedish Gaming Authority.

This move continues our strategic expansion in key regulated markets, working closely with regulators and supporting operators as they grow their offering with our diverse portfolio of content built with player protection in mind.”, said Andrew Lucas, Chief Operating Officer at Microgaming.

Source:

“Sweden expands regulated iGaming market”, igamingbusiness.com, January 21, 2019.

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