Unregulated gambling services emerge as the major propellant of growth within the Sweden’s betting expanse
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According to the recent data from H2 Gambling Capital and Lotteriinspektionen – the local gambling regulator, the online sports betting could successfully carve a niche for itself in the Swedish unregulated online gambling market and thus, holds a lion’s share in marketting expanse.
However, while revenue from unregulated sports betting services accounted for half of the country’s unregulated market in 2008, it represented a 42% share in 2017. Escalating fascination towards online casino games in recent years elevated that segment’s market share to 40% in 2017 from 21% in 2008, as per data. Online poker encountered the biggest deterioration in market share.
Back in 2008, when Swedish players were among the drivers of Europe’s online poker boom, revenue from the game represented 20% of Sweden’s unregulated online gambling market. In 2017, poker accounted for just 7% of the market.
Other online gambling services saw feeble growth within the Scandinavian nation’s iGaming space over the past decade. Revenue from those accounted for 9% of the unregulated market in 2008 and hiked to claim an 11% market share in 2017.
According to recent data provided by Lotteriinspektionen, Sweden’s unregulated online gambling market was worth SEK5.534 billion (approximately $670 million) in 2017 in terms of revenue generated throughout the year. The reported figure reflected a 13% increase from the previous year. Unregulated gambling services thus turned into the major driver of growth within Sweden’s gaming and betting space.
The country’s whole gambling market was worth SEK22.604 billion last year, Lotteriinspektionen has reported. In other words, proceeds from unregulated services accounted for a quarter of the country’s gambling revenue.
Source: European Gaming News