Swedish market news
Since the re-regulation of the Swedish market, a lot of things happened. We highlighted some news for the past two months.
More Swedish women are getting gambling addiction
Over 45,000 people in Sweden have compulsive gambling issues. Contrary to expectation, more women are addicted to gambling than men in Sweden. The number of women suffering compulsive gambling problem is at all-time high in the country, composing roughly 64% of the total problem gambler population. The authority speculates the sharp rise is because of women being neglected as most preventive measures were intended for men, who used to be the absolute majority of problem gamblers. It’s time to stop stereotyping and give more attention to women.
Swedish gambling regulatory body introduced strict measures on gambling related advertisements
Aligned with the efforts to make gambling related advertisements less viable all across Europe, the Swedish gambling regulatory body was also taking actions. In March, the Swedish gambling regulatory body had announced strict measures to limit gambling related advertisements. The regulatory body would check the gambling related ads aired on television and radio as well as print and digital Ads to some extent. It was expected that a total ban on gambling advertisements in Sweden was yet to be seen soon but the number of ads could be limited. Under the new measures, the operators who do not comply with the regulations may be given official warnings and penalties and in the case of repeated violation their license can be revoked as well. The punitive measure depends on several different factors such as how long the infringement last for.
Gibraltar and Swedish gambling regulator sign cooperation agreement
Following the MoU with Malta Gaming Authority, the Gibraltar Gambling Division (GGD) has entered another MoU with Swedish gambling regulator Spelinspektionen to enhance cooperation between the two jurisdictions. Some companies have both Swedish and Gibraltar licenses, the opening of the communication channel between the regulators would result in stronger supervision and thus a fairer and safer market, and more consumer protection.
Swedish gambling regulator enlisting a new partner to help verify gambling license applicants
To enforce stringent compliance measures, the Swedish gambling regulator is seeking a new partner to help with the verification process of the gambling licenses applicants. The new partner’s role includes conducting due diligence of the operator’s business structure, company information, and ownership structure, verifying the details provided by the operator, and monitoring the activities of the existing license holders. The number of verifications to be carried out by the partner can reach up to 50 according to experts.