SBC News Voice of the Sports Betting Industry
Sweden will implement its new online gambling amendments from 1 April 2024, strengthening consumer protections and increasing fines for AML infringements.
During end-of-year proceedings, the government consolidated all gambling amendments into a specific bill, which was then submitted to the Riksdag (Parliament) for legislative authorization.
The bill’s agreed amendments correspond to increasing consumer protections, imposing written requirements for telephone sales, and adjusting penalties for money laundering violations.
In 2023, the Swedish government proposed new amendments to the Gambling Act of 2018, to improve consumer protections and customer care duties for online gambling licensees.
From 1 April 2024, online gambling licensees will be required to assess and analyze data concerning a player’s health and financial status, deemed necessary to “protect consumers from excessive gambling.”
Approved by Finansdepartementet, Sweden’s Ministry of Finance, the proposed changes include an increase in penalty fees for gambling companies found in violation of the Money Laundering Act.
Currently, the penalties imposed on operators for breaching the Money Laundering Act are less severe compared to those for infringements of the Gambling Act. This amendment aims to settle high court disputes related to how gambling inspectorate Spelinspektionen had valued and imposed AML penalties.
The bill’s final provision introduces a new requirement for gambling-related telephone sales to be submitted to the consumer in writing. Any agreement not made in this manner will be considered invalid.
In 2024, Swedish operators will prepare for another year of adjustments, as the government continues to revise market protections under the Gambling Act of 2018 and as Parliament will debate increasing gambling income taxes from 18% to 22%.
