Sweeping Changes in Swedish Gambling Landscape - Riksrevisionen Investigates
Date: 2023-11-26 Author: Dima Zakharov Categories: EVENTS
Meeting Regulatory Obligations:
Riksrevisionen aims to assess how Spelinspektionen is fulfilling its duty to supervise the regulated market, emphasizing the need for increased channelization. The review's results are eagerly anticipated, scheduled for release in September 2024.
Alarming Increase in Unlicensed Gambling:
Recent data reveals a ten-fold surge in traffic to unlicensed gambling websites since 2019. ATG's statistics indicate channelization rates for regulated online gambling were between 70% and 82% in Q3.
Economic Impact and Policy Goals:
Contrary to the intended goals of the Swedish gambling policy, Riksrevisionen suggests the market is negatively impacting the economy. The audit contends that while the sector contributes SEK6bn in tax revenue, problem gambling costs society SEK9bn.
Challenges in Supervision Post-Re-regulation:
The audit will delve into Spelinspektionen's ability to regain control and protect consumers in the transformed landscape. The increase in actors—from three major entities to approximately 600 license and permit holders—presents new challenges, exacerbated by the relative newness of the legislation.
Market Overview:
Gross gaming revenue from Swedish license-holders remains stable at SEK6.7bn. Land-based casinos witness a remarkable 30.5% YoY increase, while non-profit lottery GGR in Q3 drops by 8.26%. Spelinspektionen director-general, Camilla Rosenberg, supports proposed changes to strengthen consumer protections.
Regulatory Improvements:
Proposed changes in the Swedish Gambling Act include mandatory written approval for telephone-based gaming and increased access to customer data. Stricter penalties for violating the Money Laundering Act are also on the horizon.
Credit Card Gambling Debate:
Spelinspektionen's call for a credit card gambling ban faces opposition. The authority argues that encouraging players to borrow violates their duty of care, but a government investigation concludes against implementing the ban.
