Changes are coming to the online gambling industry in Sweden. The government has announced that the current online gambling restrictions set in the country will come to an end on November 14. Such restrictions include a cap on monthly deposits of SEK5000 ($600).
Details of the Announcement
While the government is allowing the set measure to end, officials want Spelinspektionen to review the regulations and propose new options to help provide more player protection. The regulator must complete this action so any new changes can be made.
According to a news source, minister of social insurance, Ardalan Shekarabi, commented that the gaming market turnover has increased. Online gambling has most likely benefited from changing patterns of consumption since the reregulation.
Shekarabi stated further that there is a risk that a change in behavior has occurred due to the increase in gambling activity. Such a development should be investigated to see if any new measures need to be enacted to help players in any way possible.
A report must be provided by the regulator with an evaluation of the temporary measures by mid-March 2022. The regulator then has until October 2023 to complete the remainder of the report.
Trade Association Happy with the Cap Lift
Operators as well as other groups are happy to see the restrictions lifted in Sweden, especially the deposit cap. The acting secretary-general of the trade association Branschföreningen för Onlinespel, Ann-Sofie Olsson, expressed concern regarding the inconsistency that operators had to deal with regarding the restrictions.
However, the group welcomed the decision to lift the restrictions. The association does feel that regulators need to put long-term and consistent regulations in place. This will allow operators to offer services in a consistent manner and continue to provide quality gaming options for players.
The trade association wants to be a part of the process and have a dialogue regarding how the temporary measures are evaluated. The BOS feels that they can provide knowledge, facts, and cooperate with the regulators so that the association can be a part of the gambling market being successful as well as sustainable.
The temporary restrictions began in June 2020 and included the cap on deposits along with a SEK100 limit on bonuses. When the restrictions were first put in place, they were to continue through the end of 2020.
An extension was put in place back in May and it was set for November 14. Unless any changes happen last minute, the regulations will end on this date.