As anticipated the Swedish government has published its long-awaited revamped national gambling policy, in which it will open a new licensing window for online gambling/betting operators.
Re-regulating the market, Swedish policymakers have placed a significant emphasis on consumer protections, industry responsibility, monitoring of betting enterprises combined with an all-around improvement in standards.
The revamped framework, sees the Swedish government split its gambling industry into three separate compartments;
New Swedish online gambling incumbents will be taxed at 18% gross gaming revenue charge, with the government placing no taxes on consumer play or winnings.
Updating stakeholders, the Swedish government has introduced a new code of conduct, which all gambling stakeholders must adhere to. New responsibility provisions include;
The new policies will see the Swedish government secure its market against unlicensed operators. The government will be able to block suspected payment transactions between consumers and unlicensed operators, as well as instruct local ISP to block access to unlicensed gambling portals.
Presenting Sweden’s revamped gambling framework Ardalan Shekarabi, Minister of Civil Affairs stated;
“We strengthen the Lottery Inspectorate as the Game Inspectorate and give the Authority more and more powerful tools. Unlicensed actors shall be closed outside and licensees shall conduct their business in accordance with the law. We also today give an assignment to the State Office to follow up the reform in order to quickly adjust the law if the objectives of the reform are not met. It is crucial that sustainable funding for the community is not jeopardized”
Swedish policy stakeholders will now move to implement the new legislation by 1 January 2019