It’s a New Dawn for Swedish Online Gambling

Discussion in 'Gambling News' started by Marina, Aug 3, 2018.

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  1. Marina

    Marina Administrator Staff Member

    Sweden checked off a successful first day of its new gambling license process, after no less than 22 companies applied.

    Top names that already operate in Sweden such as Betsson and Svenska Spel were among those who made a submission for a license on the first day.
    Not all companies made an application on the first day, including Kindred Group and its subsidiary, Unibet, as well as Leo Vegas and Mr Green, but it is expected that they will in the coming months.

    This is a historical day for Sweden as it ends the monopoly held by the state-owned Svenska Spel for many years.

    Sweden’s new gambling market will go live in January 2019 and until then the government expects to see up to 70 operators apply for licenses.

    Betsson executives were excited to be among the first companies to apply for a license, with the company’s chief executive, Pontus Lindwall saying that he had been waiting for this moment since he entered the industry over 25 years ago.

    Writing on Betsson’s official blog, the CE said that Sweden was “home turf.”

    “We’re a Swedish top company within the industry, and we’ve been in this market for a very long time,” he said. “I think it’s great that it opens up for regulation and for license applications.”

    Lindwall said that Betsson has been operating in the market for a long time and now has better possibilities for marketing, sponsorships and PR.

    “In most of our operations I think we will be operating as before but under the new regulation,” he said.

    Lotteriinspektionen, the Swedish gambling regulator, said that more than 1,500 documents were filed on Wednesday so that operators would be ready to go live when the gambling market opens in January next year. The regulator urged operators to submit their documents as early as they could so that they could be sure to receive their license by early next year.

    The regulator warned that licenses would only be awarded to operators “with the knowledge, experience and organization required the operate the business and who can be assumed to operate the business in accordance with laws and regulations applicable to the business, and who are otherwise considered to be suitable to operate the business.”

    Some of the operators who are expected to apply for a license and make a request to operate in Sweden’s new regulated market include:
    • Svenska Spel
    • Casino Cosmopol (owner of four land casinos)
    • AB Trav och Galopp (horseracing betting monopoly)
    • Electraworks (Bwin operator)
    • Interwetten (which caters to the German market)
    • Mandalorian Technologies (owner of NoAccountCasino.com)
    • CashBet (crypto casino operator)
    • MT Secure Trade and Zecure Gaming (subsidiaries of Gaming Innovation Group, linked to Rizk Casino)
     
    Mike likes this.

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