In an attempt to increase the safety of its domestic online casino market and the government of Sweden has reportedly introduced new legislation that could require iGaming business-to-business software suppliers to be licensed.
According to a source, the proposed regulation was introduced yesterday by the Scandinavian nation’s Social Security Minister, Ardalan Shekarabi (pictured), and could now begin obliging providers to be certified by the Spelinspektionen watchdog from as soon as the first day of next year. Home to approximately 10.4 million people, Sweden has already licensed a plethora of commercial land-based and online casino and sportsbetting services that chalked up aggregated gross gaming revenues of approximately $2.62 billion for the whole of 2020.
Continuing caution:
As part of the drive to further improve the safety of its iGaming market and the coalition government of Swedish Prime Minister Magdalena Andersson has also reportedly proposed a simultaneous ban on the promotion of unlicensed gambling alongside an extension to an existing prohibition on illicit operators. The country’s Finance Ministry, which oversees the Spelinspektionen, purportedly suggested that the former alteration could furthermore encompass ‘stricter requirements for moderation’ that would have the added benefit of helping to protect young people and those suffering with gambling addictions.
Advertising awareness:
The Finance Ministry reportedly suggested that it may moreover look to institute a market disruption fee from next year that would penalize licensed operators found guilty of disruptively marketing their wares directly to consumers via such channels as e-mail. Finally, the government department purportedly revealed that it may additionally seek legislative support so as to compel such legitimate online casino and sportsbetting providers to supply a range of information on developing iGaming trends.
Peculiar pursuit:
Shekarabi reportedly asserted that the proposed rules on iGaming would help to further crack down on the number of unlicensed operators currently in the Swedish market while concurrently limiting excessive advertising from legitimate providers. The 43-year-old purportedly noted that the floating of these propositions follows a June recommendation from the Finance Ministry that the Scandinavian nation’s online gaming market should be subject to ‘special moderation’ measures similar to those already in place for the promotion of alcohol.
Shekarabi reportedly stated…
“We are now taking the next step to regain control of the Swedish gaming market. It is about both limiting aggressive gaming advertising and stopping gaming companies that do not have a license. Strengthened gambling regulation is a prerequisite for the strong protection of consumers.”
Industry impression:
For his part and the Secretary General for the Swedish Trade Association for Online Gambling, Gustaf Hoffstedt, reportedly proclaimed that it remains ‘unclear’ as to whether the proposed rule changes involve ‘special moderation’ or a completely new set of standards. The representative purportedly moreover disclosed that his organization supports measures to reduce unlicensed gambling but is against any new rules that would limit its membership’s marketing activities.
Reportedly read a statement from Hoffstedt…
“Our position is negative regarding the government’s proposal for additional restrictions on gambling, especially if it is targeting online casinos. We believe that licensed online casinos need wide marketing possibilities to be successful in helping to combat unlicensed gambling.”