The Swedish government announced earlier this month that it was considering bringing back several temporary measures to the gambling industry. Among these was a deposit limit, which was in place in 2020 and 2021 during the COVID-19 pandemic. However, the government opted to scrap the plan. Players and operators are thrilled with the decision.
Sweden Changes Gears on Gambling Caps
The cap, along with other measures like a SEK100 ($44) limit for sign-up bonuses, was to be made official yesterday. It would have entered into effect on February 7, if approved. However, the government chose to abandon the plan.
Gustaf Hoffstedt, secretary general of the Swedish Trade Association for Online Gambling (BOS, for its Swedish acronym), met with state secretary Alejandro Firpo yesterday to show his gratitude. He stated that the cap didn’t reduce gambling harm and the government made the right decision. BOS had been vocal about its opposition to the rules.
Hoffstedt asserted, “We are in favor of strong regulation of the gaming market, and a prerequisite for this is that the intention with various reforms can also be expected to have the intended effect. That was not the case with the covid restrictions, and it is, therefore, welcome that they are withdrawn.”
New Rules and Regulations Coming to the Gaming Ecosystem
The Ministry of Finance in Sweden has proposed a variety of safer gambling options, including the introduction of a mandatory licensing program for gaming software suppliers.
Minister Ardalan Shakarabi presented the proposals during a press conference yesterday. They will be in effect from January 2023.
The rules make it mandatory that suppliers offering their services to Swedish operators obtain a gaming license. According to the Ministry, this would help stop unlicensed gambling in the country.
Other suggestions include banning illegal gambling promotion and extending the existing ban on unlicensed betting. To protect children and people with gambling problems, the Ministry suggested that gambling advertising in Sweden be adjusted to better suit their needs.
Shakarabi suggested that gambling advertising be subject to “special moderation,” as it is for alcohol marketing, in June 2022. Spelinspektionen, Sweden’s gaming regulator, supports this proposal.
The Ministry suggested that a market disruption fee be assessed for operators who market directly to customers, such as via e-mail, but in a disruptive way.
The final proposal requires licensees to give information to allow the Ministry to follow developments and trends in the gaming market. Shakarabi added, “We are now taking the next step to regain control of the Swedish gaming market.”