Sweden Strengthens Gambling Regulations with New Amendments

The Swedish Gambling Act is set to undergo significant changes, with amendments planned to take effect from April 1, 2024. One major adjustment requires operators to obtain written approval from customers before engaging in telephone-based gaming. Additionally, providers will have the authority to access customers' financial and health data to prevent and counteract excessive gambling, a move welcomed by the regulator.

Regeringskansliet, the government office supporting lawmakers, has proposed several amendments to the Gambling Act. Notably, gaming companies violating the Money Laundering Act will face higher fines, harmonizing penalties for both Money Laundering Act and Gambling Act violations. These changes aim to combat criminal activities within the gambling sector.

The amendments come amidst an evolving legislative landscape, where supplier licenses and new enforcement powers for Spelinspektionen came into force on July 1. The government also proposed an increase in the gambling tax rate from 18% to 22%, potentially effective from July 2024. Furthermore, Spelinspektionen recently advocated for a ban on using credit cards for gambling in the country.

Despite these changes, Sweden's gambling market has shown signs of plateauing. In Q3, gross gaming revenue (GGR) from licensed operators reached SEK6.7 billion, reflecting a 0.6% year-on-year decrease and stagnation compared to Q2 2023. The voluntary self-exclusion scheme, Spelpaus.se, saw a 4% increase in registrations by the end of Q3, with 99,000 individuals participating.