However, this decision was not arrived at overnight. It started in September 2015 when Ardalan Shekarabi, the civil minister of the day, suggested that the gambling regulation needed an overhaul.
The investigation kicked off on 29 October 2015 when the government appointed Hakan Hallstedt, the general director of Lotteriinspektionen, to see it through. But it wasn’t until 9th January 2018 that the Council of Legislation received a proposal for the new gambling law.
After a few tweaks, the Swedish parliament approved the bill on 7th June 2018 and that opened virtual doors to all operators interested in a Swedish license.
The Swedish lawmakers have certainly thought this regulation through. It covers everything from online gambling & betting to lotteries, land-based bingo, and state-owned casinos.
According to the act, operators should have a system in place to track user behaviour. Not only that, but they should also respond appropriately. It’s a move designed to protect players from excessive gambling.
Through the Swedish Gambling Authority, all unregistered casinos will not be able to receive payments from Swedish players. And they will also be required to display a warning sign on their sites. That coupled with the criminalisation of match-fixing, aims at reducing fraud on both ends.
Commercial gaming operators will have to part with 18% of their net profits, while non-profit gambling activities will enjoy 0% tax rate. License prices range between 400 000 – 700 000 SEK and the age limit is 18+ to play online and 21+ for land-based casinos.
The most intriguing part of this regulation sits in the bonus department. No more recurring incentives like daily rewards, loyalty points, and free spins. However, the act allows casinos to offer a welcome bonus.
Players will also have to register again, even if they had an account with a particular casino. So every punter in Sweden will savour a second round of welcome bonuses.