As we all known, Sweden has been one of the key markets for the iGaming companies. Having said this, most of such companies are operating in the grey area. They are unable to apply for the local license, simply because only one local monopoly (Svenska Spel) is entitled to be regulated by the Swedish gambling authorities. As seen on the Norsk Casino website, such a practice often leads to misfortunate results. Instead of opting out for a Svenska Spel, Swedish players often prefer online casino and betting sites that offer better user experience, higher odds or, simply, better bonuses. Often, such online gambling websites come with a shady or no regulation at all. Consequently, the lack of the local regulation puts all of the players into a threat instead of protecting them.
This is why the Swedish government has stated that it plans to make the gambling market more open. It expects to introduce the guidelines about obtaining a Swedish gambling license by the 1st of January 2019, which is just one and a half year from now. Unlike some countries, as Czech Republic, Swedish Gambling Authority will not be implementing any harsh measures towards the capital requirements, bet size limits or heavy taxation. Considering the importance of the country for the whole iGaming industry, Sweden has decided to take a reasonable approach towards the taxation of the betting and casino operators. Such companies will have to pay 18% from their gross revenues to the government. While this number is slightly higher than in most of the EU countries, it is still considered as a legitimate rate.
One of the leading gambling and betting companies in Sweden, Kindred Group (an owner of the Unibet and other brands), have commented positively on such a practice. The company assumes that the vast majority of the local player would prefer to opt out for a Swedish regulated company as long as it can provide a similar playing experience as the unregulated competitors. Besides that, when looking at the Kindred Group’s roots, it is clear that the company’s key staff and key markets come from the Nordic region, yet the company had to be based in Malta as this country provides a better regulatory environment for the iGaming operators.