After the regulated Swedish online gambling market formally opened in January 2019, it’s fair to say that it hasn’t turned out as many had expected.
Fuelled by concerns that the COVID-19 lockdown could lead to greater incidences of gambling-related harm, the Swedish regulator recently introduced additional player-protection measures to what many already considered to be a challenging market.
For an inside view, SBC spoke to Boris Chaikin, CEO at Soft2Bet, a leading platform provider to the Swedish igaming sector.
SBC: How do you see the Swedish market currently, particularly in light of the recent player protection measures introduced by its regulator?
BC: Sweden has a crucial role to play in the region’s vibrant igaming market, even after the introduction of numerous protection measures by its government. We see these more as an attempt by the Swedish government to protect its citizens, as opposed to a perceived critique of gambling.
To us, the introduction of new regulations are an integral way for companies to stay focused on providing entertainment for Swedish customers in the most responsible way possible. Player safety is of the upmost importance, of course, and it will be conscientious operators adhering to the highest possible standards that are successful in Sweden.”
SBC: What role do licensed platform providers play in mitigating the risks posed by unlicensed platforms?
BC: The Swedish regulatory authorities have worked tirelessly to ensure players are safe from the risks posed by unlicensed platforms. Licensed companies such as ourselves, are not only carefully monitored, but we also work diligently to ensure the delivery of high-quality products which adhere to the edicts of the Spelinspektionen.
Also, unlike unlicensed platforms, Soft2Bet endeavours to designed products with both enjoyment and safety in mind, and our offering includes tools which safeguard players and in turn builds a level of trust which retains them.
SBC: Can you tell us a bit more about the brand you recently launched in the Swedish market?
We recently launched CampoBet in Sweden and it has proven hugely popular with sports fans seeking the opportunity to place bets on both live and virtual events. The cutting-edge site hosts games from the top Swedish divisions, world leagues such as the Premier League and La Liga, and all the major championships to provide an extensive selection of events and markets.
Our dedication to localisation has also been a contributing factor to CampoBet’s success, with a support service of native speakers working 24/7 to assist our customers. To ensure transparency, customers also have the opportunity to create an account using Pay N Play, which offers instant deposits/withdrawals via Trustly.
SBC: Do you have any predictions for the future of our industry in the region?
In a region as vibrant as this there will always be competition. To us, this is a challenge that keeps us pushing the boundaries of creativity. Companies should strive to consistently produce new and exciting products which not only entertain players, but also go above and beyond the adherence to regulatory requirements.
Licensed operators such as ourselves understand the relevance of Sweden’s dynamic igaming market, and can certainly see a prosperous future here.