SBC News Voice of the Sports Betting Industry
Sweden has recorded total gross gaming revenues (GGR) of SEK 6.89bn (€602m) during Q2 2024.
The total GGR figure was revealed by the Gambling Inspectorate Spelinspektionen’s monitoring of gambling activities for Swedish licensed land-based and online businesses.
Q2’s GGR of SEK 6.89bn (€602m) surpasses the SEK6.71bn (€586.8m) recorded in Q2 2023 and is 3.3% higher than Q1 2024’s revenue of SEK6.67bn (€583.1m).
The inspectorate’s data reveals that Sweden has recorded its highest Q2 wagering activities since records began in 2019, corresponding with Sweden relaunching its gambling marketplace.
Online gambling, including Svenska Spel revenues, remains the largest revenue segment, generating a 9.2% increase in GGR to SEK 4.57bn (€399.4m). The outcome surpasses all previous quarterly results tracked by Spelinspektionen.
GGR figures recorded by Sweden’s national lottery declined by 7.5% to SEK1.29bn (€112.8m), marking its lowest quarter since Q1 2020.
Further segments saw state-owned Casino Cosmopol register a 73% drop in GGR to SEK 33m (€2.9m), as results mirror the Swedish government’s decision to close down Cosmopol venues in Malmö and Gothenburg. As of Q2, Casino Cosmopol operates a sole venue in Stockholm.
Elsewhere regarding Q2 turnover, gaming for public purposes/national lotteries dipped slightly to SEK 893m (€78.1m) (2023: SEK 896m, €78.3m), while community games/hall bingo stayed flat at SEK 52m (€4.5m). Land-based commercial gambling (restaurants, casinos) rose slightly to SEK 56m (€4.9m) (2023: SEK 53m, €4.6m).
Spelinspektionen added that Spelpaus, the country’s self-exclusion service, had 112,000 people registered at the end of the quarter, up 1.7% compared to the previous quarter.
In the second half of 2024, Spelinspektionen has ordered online operators to prepare for technical changes that will be applied to Sweden’s Gambling Act.
Authorized by Minister of Financial Markets Niklas Wykman, the Inspectorate will require all online operators to submit individual action plans for customer care interventions.
The regulatory requirement will be effective from 1 October and is determined by Spelinspektionen as necessary to directly intervene and limit excessive gambling.
Further changes will be applied by Finansdepartementet, Sweden’s Ministry of Finance, which dictates that from the period of 1 September to 1 April 2025, Swedish online operators must ensure that they no longer allow all types of credit-related transactions, including credit cards, overdrafts, and transfers.
The Riksdag will conclude 2024 proceedings by beginning a review of taxes applied to Swedish gambling, in which it will debate whether to increase income taxes from 18% to 22%.
