Big changes are coming to the Swedish online gambling market. If you are looking to place online wagers in Sweden from July onwards, you will need to be aware of these changes. The good news is that the changes are primarily aimed at helping you stay safe when gambling online, by ensuring that operators are fully compliant with regulations. The ultimate aim is to stop any unlicensed gambling companies from operating in Sweden.
In this article, we will look at recent changes to Swedish gambling laws and also look ahead to what is happening in July. So read on to discover how the changes will impact your online play.
Source: sigma.world
Contents
The Story so Far
2022 was a huge year for the Swedish gambling industry. In January, they introduced new measures relating to the advertising of gambling products. Under the new regulations, gambling operators have to be transparent when advertising odds and clear on the risks associated with gambling. These regulations have helped protect customers from misleading advertising and false claims.
In addition, 2022 saw other changes to how online sportsbooks and casino sites were governed. Many of these changes focussed on protecting vulnerable players from incurring large losses and picking up problematic gambling habits. They were also aimed at ensuring gambling sites were operating in a fair and trustworthy way.
As a result of these changes, 2022 was a highly successful year for the Swedish online gambling industry. Many operators improved the speed of their platforms and developed higher quality mobile tools. However, the biggest change was yet to come.
What are the key changes on the 1st of July?
In November 2022, the Swedish government passed a number of new laws relating to the gambling industry. The key focus of these laws is ensuring unlicensed gambling operators are excluded from the Swedish marketplace. You can find more info on unlicensed Swedish casinos by reading our articles on the topic.
As a result of these new laws, the 1st of July will see more major changes to the industry and amendments to the Swedish Gaming Act. Here are some of the biggest changes:
Source: canva.com
New licensing system
This is the change that underpins the new Act. This new system will give the SGA more access to the supply chain of operators. Doing this will prevent Swedish operators from providing services to foreign gambling companies without notifying the SGA. The new system will also enable the SGA to have a greater oversight of which external companies are being used by operators. Thus helping to ensure that all parts of the supply chain are legitimate and comply with the regulations.
Applications for licenses under the system began on the 1st of March. As a result, the Swedish Gaming Authority (SGA) awarded supplier licences to a number of popular software developers, including Yggdrasil, Relax Gaming and Blueprint Gaming. In addition, other developers (including Hacksaw Gaming) were granted B2B licences.
Marketing changes
The big change in this area relates to how gambling is marketed to younger people. The SGA will be closely monitoring how operators target younger players. To this extent, operators will have to provide the SGA with a greater depth of information concerning their marketing activity.
There will also be tighter controls on offering bonuses and free credit to players with health conditions related to gambling.
Source: islandecho.co.uk
Social responsibility
Closely related to the marketing changes is the Gaming Act’s increased focus on social responsibility. The Act requires operators to provide a greater range of safer gambling tools, including the ability for players to self-exclude for a period of time. Age regulations will also need to be strictly adhered to — no players under the age of 18 will be permitted to gamble. While this age restriction has always been in place in Sweden, the new regulations give the SGA greater powers to monitor its application.
Will there be any more changes?
A few other changes to Responsible Gambling Regulations are currently being suggested by the SGA. These potential alterations will see online accounts automatically locked if they are inactive for two hours. Also, responsible gambling tools will no longer be able to suggest deposit limits or maximum log-in limits. These tools need to be set entirely by the player. Finally, the SGA wants to bring in regulations that stop players from being able to reverse any withdrawal requests they make.
Given the rapidly evolving nature of online gambling in Sweden, it seems highly likely that even more new regulations will come into force in the near future.
Source: medium.com
Stay in control of your online gambling
The overall aim of the recent changes is to create a safer and more enjoyable online gambling scene in Sweden. In this regard, a large degree of responsibility lies with the operators. They will need to be a lot more stringent when it comes to marketing their products and registering new players. Bringing in more regulations relating to the supply chain will also help ensure that your gambling experience is a secure and fair one.
That being said, there is still a large degree of personal responsibility involved when gambling online. No matter how rigid the new regulations are, you still need to take personal responsibility for your online gaming activity.
Whenever you join an online gambling site, you should always set safer gambling parameters. Carefully consider your budget, then set limits on the amount of time and money you spend playing at a site. Never place bets that could lead to you incurring uncomfortable losses, and if you feel that you are developing any unhealthy gambling habits, stop immediately.
Conclusion — A healthy future for Gambling in Sweden
As you can see, the new regulations will help ensure that the future of Swedish online gaming is bright. The Gaming Act will give you greater confidence in operators, as well as their suppliers. This means you will be able to place online wagers, safe in the knowledge that the sites you are using are fair, legitimate and completely trustworthy.
