Weekly deposit limits were only a few of the measures which Sweden introduced last year. In light of the pandemic, the country also sought to introduce additional measures fighting against unlicensed play, as well as match-fixing. Now, a lower weekly deposit limit for online casinos is up for debate.
Sweden Considers Lower Weekly Deposit Limits for Online Casinos
Prime Minister Ardalan Shekarabi was the force behind the deposit limits introduced temporary for online casinos. Last year, those restrictions rolled out a weekly limit of SEK 5,000 ($549). However, in light of the ongoing pandemic and the New Year, a new proposal calls to lower the weekly deposit limit from SEK 5,000 to SEK 4,000 ($441).
The proposal is currently out for consultation and calls the new limit to apply from February 7 through June 30, 2022. But the new proposal already caught the attention of the Swedish Trade Association for Online Gambling (BOS). In a statement released on Tuesday, the Association advised against the newly proposed limits for online casinos. Moreover, the BOS outlined that weekly deposit limits result in consumers registering with multiple operators which decreases player protection.
BOS Alerts: Consumers That Want to Spend More Register with Multiple Operators
Gustaf Hoffstedt secretary-general at the Association acknowledged that by the design of the system, players that want to spend more money than the weekly limit can simply create new accounts with different operators. He outlined that before the limits were introduced in Sweden, players used only one or two operators.
“As the system is designed, it leads to players who want to play for more money than the proposed limit start up new gaming accounts with new gaming companies.”
Gustaf Hoffstedt, secretary-general at the Swedish Trade Association for Online Gambling (BOS)
However, according to Hoffstedt, after the limits were introduced a “sharp increase in the number of gaming companies per individual player” was observed. Moreover, he explained that due to this, the overall analysis of the gaming behavior and support for gamblers at risk are being impacted negatively.
“We call on the government to rethink and safeguard consumer protection in the Swedish gaming market,”
added Hoffstedt
Hoffstedt said that when gambling is “fragmented as it becomes with deposit limits,” the gambling companies are unable to identify gamblers at risk. According to him, this results in a decrease in consumer protection, which defeats the purpose of the Swedish gaming law. In conclusion, Hoffstedt urged lawmakers in the country to rethink the introduction of the deposit limits in an effort to ensure the protection of the consumers in Sweden.