Sweden casino market analysis predict growth
The recent participation of Casino News Daily team members in several iGaming conferences has confirmed what we all expected. Sweden casino’s and the re-regulation of its gambling market has indeed created quite some buzz in the field. Also our partners tend to be interested especially in Sweden casino players.
Lotteriinspektionen, the Swedish Gambling Authority, launched the application process for gambling companies interested in operating in the country. Pushing of this gambling law took place in this year’s august 1st. According to various sources, the regulatory body accepted 22 license applications on the very first day. More than 27 companies applied so far, which is great. Swedish authorities expect around 70 applications ahead of the January1, 2019 opening of the market.
Swedish casino brand Svenska spel
Sweden’s state-run Svenska Spel as well as major gambling companies originating from the country. However, they are operating from Malta, including Betsson, LeoVegas, and Kindred Group, were among the early birds of the ongoing application process. And while a number of companies are looking to join the Scandinavian nation’s gambling space as early as possible, others have told members of our editorial team that they would approach the newly regulated market a bit more cautiously and wait until after the actual re-regulation takes place.
Sweden is growing to be one of the largest casino jurisdictions in Europe. Revenue wise, thanks to it’s new regulations. According to official data by Lotteriinspektionen, the regulated portion of Sweden’s gambling market, which is controlled by state-run operators, generated revenue of SEK17.07 billion ($1.8 billion) in 2017, while unregulated operators servicing local players generated SEK5.534 billion ($607.97 million).
However, country’s grey market size can only be guessed. That it is probably much larger than stated stated in Lotteriinspektionen’s latest annual report. Nevertheless, the figures reported certainly create optimistic visions of the future of Sweden’s re-regulated gambling market. And it is a matter of a very short time until the industry sees whether these visions will become reality.
Potential of the Sweden Casino Market
Online gambling has been a popular activity across the Scandinavian Peninsula, Sweden included, since its not-so-distant dawn. Technical interest and progress evolves thanks to the population. This has helped gaming industry as well as many others.
In other words, Sweden has always been in a pole position when adopting and assimilating digital infrastructure and Sweden casino. Re-regulation of its gambling market and its opening to international operators that will bring further innovation. In a regulated environment, is a step in the right direction, and a step that would provide for a further growth of the market.
Market is the reason for future development. However, with very few exceptions, the provisions comprising Sweden’s new gambling law seem to be quite reasonable ones. For instance, Swedish lawmakers have introduced an 18% tax rate on gross gambling revenue. Which, keeping in mind volumes and operators, is reasonable. It is a bit higher than UK’s 15% point-of-consumption tax, but it is lower than Denmark’s 20% tax.