Proposed Ban on Credit Gambling
The Ministry of Finance in Sweden is suggesting a more comprehensive ban on using credit for gambling within the nation. Currently, there's already a ban on licensed operators offering credit under the Gambling Act. However, the government wants to strengthen this by imposing a broader ban.
A Focus on Preventing Harm
The Ministry emphasizes that this move is crucial for preventing gambling-related harm among players. It argues that individuals with gambling issues are more likely to face financial problems, and eliminating the option to use credit for gambling can significantly reduce this risk.
Duty of Care Emphasis
Under the proposed measures, gambling operators would be prohibited from processing deposits or bets funded by credit, irrespective of the method or timing of credit provision, including credit cards. Additionally, licensees must implement duty of care measures to discourage excessive gambling, with the national regulator, Spelinspektionen, tasked to set requirements for these measures.
Regulator's Support for the Ban
Spelinspektionen has long been advocating for measures to prevent consumers from using credit for gambling. It previously called for a complete ban on gambling with credit cards. This support aligns with efforts to ensure licensees improve their duty of care practices, as outlined by the legislation.
Following International Trends
Sweden's move to ban credit gambling follows similar actions in other major markets such as the UK and Australia. The UK implemented a credit card ban for gambling in 2020, and Australia has proposed a similar ban through legislation. Norway, Sweden's Nordic counterpart, also has a comparable ban in place.