The Swedish trade association for online gambling signed an agreement for cooperation with the International Betting Integrity Association (IBIA), the voice of the betting industry announced.
Regulatory Challenges
The memorandum of understanding (MoU) signed with Branschföreningen för Onlinespel (BOS) will see both industry bodies work together on projects of mutual interest, and especially on challenges posed by the recent changes in the regulatory framework of the betting market in Sweden.
In June, the Swedish government introduced restrictions for online gambling as safety mechanisms to protect people vulnerable to gambling harm during the pandemic. The measures entered into force July 2 and were meant to run throughout the year.
“IBIA members have faced a number of regulatory challenges in Sweden since its opening and the betting product restrictions set to be introduced at the start of 2021 will add further burdens, notably relative to unregulated offshore operators.“
Khalid Ali, CEO, IBIA
IBIA is a not for profit association established in 2005, operating on 6 continents and having as members many of the world’s largest regulated sports betting operators. BOS and IBIA will cooperate to promote effective betting and integrity provisions to ensure a high level of market oversight and improve customer channelization in Sweden.
“A clean sport, free from corruption, is of utmost importance for the gambling industry in Sweden. The gambling industry is a victim when matches are fixed, and it is therefore crucial to not only work hard, but to work together, against manipulation in sports.”
Gustaf Hoffstedt, Secretary General, BOS
Upholding Industry Standards
The deepening collaboration with the leading global voice on integrity for the licensed betting industry will boost BOS efforts to deliver on the joint goal of making sports betting “fun, safe, transparent and honest”, BOS secretary general concluded.
Recently, Swedish authorities announced their strong intent to keep the new online gambling restrictions effective through June 2021, as part of their ongoing response to the health crisis induced by the coronavirus outbreak. The controversial Memorandum which extends the measures will be up for discussions by the industry until November 23, before being implemented.
“We believe that those restrictions will prove counterproductive and we hope that the Swedish authorities will take an evidence-based approach and continually reassess their position on this matter. In the meantime, we will work with our colleagues at BOS to do all we can to keep that market safe.”
Khalid Ali, CEO, IBIA
As part of its ongoing effort to protect the integrity of the betting industry, IBIA introduced in October a set of standards for collection of data for sports betting purposes and partnered with eCOGRA, an industry testing agency, to ensure compliance for its members.