Latest News
70+ Operators Approved Under Sweden’s Newly Liberalized Gambling Market
Reading Time: 2 minutes
Sweden’s newly liberalized online gambling market has only been in place for a couple of months, but already it is proving a success. Spelinspektionen (the Swedish Gambling Authority), granted licences to 60 gambling operators before the new laws were implemented on January 1. It has since approved an additional 13 operators, bringing the total number of licence holders to 73.
Sweden’s Liberalized Gambling Laws Having Intended Effect
Spelinspektionen has been handing out new licenses at a rate of more than one a week since the new year, with no signs of a slowdown any time soon. A glance at https://www.casino.se/ shows many of Europe’s largest gambling operators among the new Swedish licence holders.
Prior to the new laws, Sweden’s gambling market was essentially a state monopoly. Unlicensed gambling operators were accepting Swedish customers, but without going through the proper legal channels. In 2018, foreign gambling sites accounted for 29% of Sweden’s $2.5 billion gambling market, up from 24% the previous year.
Sweden’s new gambling laws were designed to give the state more control over the market. The fact that 73 companies have already jumped on board shows the new laws are having their intended effect.
Swedish Gambling License Holders Must Pay Tax, Monitor Customers
Sweden’s new gambling laws impose a number of strict rules on operators. For starters, it includes a taxation component, with operators taxed at a rate of 18% of their profits from Swedish customers. The Swedish government will undoubtedly monitor tax collections particularly close this year, given the country is heading toward a budget deficit in 2019.
The new regulations outline several ways in which licence-holders must protect players from excessive gambling. For example, operators must monitor individual players and, if necessary, help them to limit the amount they bet. In addition, operators may only offer a bonus the first time a player bets on their site. They aren’t permitted to offer bonuses to repeat customers.
Under the new laws, Spelinspektionen maintains the right to request that an online operator block payments. It may also request that an online operator display a warning message on websites that aren’t approved for business in Sweden. Moreover, players themselves may be able to exclude themselves from online gambling via Spelinspektionen directly. This would save players from having to make the request from each individual licence holder.
Svenska Spel Sees Consolidation of Swedish Gambling Market
Svenska Spel, the state-owned Swedish gambling company, will continue to operate alongside the dozens of approved private operators. In a recent interview with Bloomberg, Svenska Spel CEO Patrik Hofbauer said he expects that only 5-10 of the 70+ licenced operators will survive in the long term.
“Things will fall into place in the coming one to three years,” Hofbauer told Bloomberg. “I find it hard to believe there will be 70 companies in the future, as this business is driven by volumes.”
Of course, Hofbauer has some interest in talking down private operators given his company now has to compete with them. But whether he’s right, wrong, or if the truth is somewhere in between, one thing is for sure: Sweden’s newly liberalized gambling market is here to stay.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: 70+ Operators Approved Under Sweden’s Newly Liberalized Gambling Market
Latest News
ACR PRO AND AMBASSADOR MEET-UP GAME RETURNS FRIDAY, JANUARY 31ST AT ACR POKER
Challenge Chris Moneymaker and top ACR Pros at the virtual tables in the ultimate global poker community meet-up
Following the success of last year’s inaugural event, ACR Poker is thrilled to announce the return of its highly-anticipated ACR Pro and Ambassador Meet-Up Game on Friday, January 31st, offering poker fans and players the unique opportunity to connect with ACR Pros and Ambassadors for a fun and interactive experience that unites the global poker community.
The ACR Pro and Ambassador Meet-Up Game kicks off on Friday, January 31st, starting at 12pm PT / 3pm ET, and runs for two hours. Joining the action this year will be ACR Pros and Ambassadors Chris Moneymaker, Chris Moorman, Ebony Kenney, Rene Nezhoda, and others. Players of all levels will have the chance to test their skills against the poker pros at custom cash game tables, featuring a variety of stakes to suit everyone.
“Last year’s ACR Meet-Up Game was awesome, we had a lot of people from the stream coming on and playing with us,” said ACR Pro Chris Moneymaker. “I can’t wait to dive in again on January 31st, it’s a great way to bring the poker community together and connect with fans of ACR Poker.”
Playing alongside the poker pros is easy. On the day of the event, players can visit the social media pages of any ACR Pro or Ambassador to find passwords for the “ACR Pro and Ambassador” cash game tables in the ACR Poker client.
For those looking to battle it out against the pros, watch the action unfold or potentially win prizes, players can tune in to catch all the excitement online on ACR Poker’s Twitch channel, featuring commentary from Justin Kelly and other special poker guests.
For a recap of last year’s event and to learn more about January’s ACR Pro and Ambassador Meet-Up Game, visit the ACR Poker blog.
The post ACR PRO AND AMBASSADOR MEET-UP GAME RETURNS FRIDAY, JANUARY 31ST AT ACR POKER appeared first on European Gaming Industry News.
Latest News
IGT Modernizes Central Lottery System for LOTTO Thüringen in Germany via Seven-Year Contract Extension
International Game Technology PLC announced that its subsidiary, IGT Global Services Limited, has signed a seven-year contract with the Thuringian State Lottery (“LOTTO Thüringen”) in Germany to deploy its retail central system technology, Aurora™, and related software upgrades. The contract term will begin upon go-live of the new platform, planned for March 2026.
An integral part of OMNIA™, IGT’s player-centric, omnichannel solution for lotteries, Aurora helps drive lottery innovation and profitability. The platform will provide intuitive, user-friendly applications, tools and reporting capabilities which will handle all of LOTTO Thüringen’s transaction processing, game management and back-office operations.
“LOTTO Thüringen has relied on IGT’s versatile and strong-performing central system technology throughout the course of our decades-long relationship,” said Jochen Staschewski, LOTTO Thüringen Chief Executive Officer. “Upgrading our central retail system to IGT’s advanced platform and back-end software will enable us to streamline our business processes and continue operating with the highest levels of efficiency.”
“IGT’s retail central system incorporates a suite of flexible solutions designed to help manage, transform and further grow LOTTO Thüringen’s business,” said Jay Gendron, IGT Chief Operating Officer, Global Lottery. “With this long-term contract extension, LOTTO Thüringen is well-positioned to continue benefiting from IGT’s secure, responsible and modernized technology and software. Leveraging these best-in-class solutions will aid in the Lottery’s goals of supporting good causes throughout the state.”
The post IGT Modernizes Central Lottery System for LOTTO Thüringen in Germany via Seven-Year Contract Extension appeared first on European Gaming Industry News.
Latest News
Prepare to be Amazed in Mythical Legends Carnival, a Mythic Video Slot!
The new title from leading Spanish e-Gaming provider MGA Games is an innovative game with a truly original theme: a journey through carnival festivities filled with legendary creatures. Its design combines the excitement of street parties with the richness of mythological creatures from around the world, providing a totally unique experience.
This new casino slot features 25 paylines, with winning combinations paid from left to right. By landing 3 or more Scatter symbols, players gain access to the Free Spins screen, which includes an innovative prize system. Players can enjoy an accumulator feature and a final Super Respin spin that awards the accumulated winnings. It also includes Money and Collect symbols, which when combined offer an additional bonus prize.
Global Audience
By showcasing mythologies from all over the world, the game is set to appeal to a global audience, enhancing its market potential and attracting players from various countries. Its visual and auditory elements, featuring vibrant graphics and immersive music, will captivate players and deliver a fully immersive experience in a fantastic world.
In this new release, every spin of the reels will surprise players with its themed symbols. As if that weren’t enough, the game features an optional Buy Free Spins button, speeding up the path to big rewards. Mythical Legends Carnival will be available in all of Spain’s best online casinos starting February 3rd and across .com markets from January 27th.
The post Prepare to be Amazed in Mythical Legends Carnival, a Mythic Video Slot! appeared first on European Gaming Industry News.
-
Latest News2 months ago
India’s top gamers Jonathan & TechnoGamerz to face off in eFootball showdown at DreamHack India 2024
-
Latest News2 months ago
The 2024 PUBG MOBILE Global Championship (PMGC) Grand Finals Arrive in London!
-
Latest News1 month ago
GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline
-
Latest News2 months ago
Mortal cements his name as face of Indian gaming, wins ‘Content Creator of the Year’ at global Esports Awards 2024
-
Latest News1 month ago
Abios powers upcoming gaming media platform Apollo with in-play statistics for League of Legends
-
Latest News3 months ago
DreamHack India 2024: A complete guide to the esports tournaments with INR 45+ lakh prize pool on the line
-
Latest News2 months ago
Mythpat, GamerFleet, Piyush Joshi Gaming: India’s popular Minecraft Players Gear Up for the Ultimate Battle in Creators Rumble
-
Latest News2 months ago
MelBet Appoints Bollywood Actress Sherlyn Chopra as its New Brand Ambassador
You must be logged in to post a comment Login