Online Casino Regulation in Sweden Changing
Officials are working towards tighter online casino regulation in Sweden. The Scandinavian country’s lawmakers have already proposed new legislation for 2019. Potential measures are said to include a new licensing system to establish prohibition against illegal online casino operators. The legislation could further see stronger measures for players implemented.
A press release from the government declared that the procedures are expected to come into effect as soon as 2019.
A Bumpy Road Ahead for Online Casino Regulation in Sweden
The country’s officials have previously requested help and in a recent interview, the country’s Public Administration Minister stated that unregulated casino gaming has taken over and is being used for unsavoury activities. The minister was adamant that it is now time to sit up and take action so as to regain control of the country’s online casino market.
The government has further declared that the potential new laws will serve as a deterrent for any future casino operators wanting to open business and hope that it will halt current online operations without a license from offering services to Swedish players.
In essence, all unlicensed operators will have to close their doors. The mandate could likely create more thorough consumer protections, too, especially when it comes to new player accounts and bonuses. Customers will further have the right to exclude themselves from bonuses. An option they don’t have right now.
At the moment, Stockholm seems to be at the core of these discussions. What’s more, the top gaming regulator in the nation may force internet service providers to display prominent and clear warning messages for sites that are unlicensed, prohibiting banking transactions.
Where to Now?
Before talks of new gaming regulation began, Swedish operators could operate pretty much unregulated and charge whatever rates on player’s deposits they wanted to. Further, many current online casinos do not place emphasis on problem gamers, squeezing money out of players who may not otherwise participate if there were tighter restrictions in place.
Recently, the country’s Public Administration Minister stated that they are reinforcing the Swedish Gambling Authority. Now, unlicensed operators are set to be shut out and license holders expected to conduct activities in accordance with the new laws and regulations.
Further, experts agree that the new measures will ensure the fraud is reduced, restricting suspected criminal organisations from participating in activities such as money laundering and match fixing through unregulated casino operator sites.
What Impact Will All This Have on Online Casino Gaming?
The Swedish Agency for Public Management has recently been introduced to follow up the reforms and ensure any amendments are made to the act should the reform goals not be met.
Only time will tell how soon the new measures will be enforced and the effect they’ll have on legitimate operators looking to expand into what is now a flourishing online casino industry in Sweden. According to experts, world-wide online casino revenues are expected to soar to an all-time high this year with players continuing to enjoy their favourite slots, dice and table games. The new online casino regulation in Sweden can only do the market good.