Raketech: Swedish gambling market has very promising future

A constant state of flux engulfs the gambling industry on a global scale, with numerous jurisdictions seemingly in a state of never ending change. This is particularly true of the Swedish market, which has not been immune to challenges during its near six and a half year lifespan.

In the first of a four-part SBC Media special, Christian Lowe, Chief Operation Officer of Raketech, places an initial focus on the company’s Casinopro brand to address the present state of the market.

In addition to examining the current position of the Swedish ecosystem amid numerous criticisms over the years, Lowe also looks into what impact a land-based discontinuation could potentially have, and what the future holds for the country.

SBC News: In your opinion, how would you assess the current state of the Swedish gambling market?

Christian Lowe: From my perspective, the Swedish gambling market today is stable, well-regulated, and continuing to mature. Since the re-regulation in 2019, we’ve seen a clear framework take shape that prioritises player safety, responsible gambling, and transparency. That’s a positive foundation to build on.

Of course, the market isn’t without its challenges – bonus restrictions and marketing limitations can create hurdles for both operators and affiliates. But at the same time, these measures are there for a reason: to foster a sustainable environment and protect consumers. In that sense, the market is doing what it was designed to do.

What’s encouraging is that there’s still plenty of room for innovation within this structure. As long as we continue to adapt, stay compliant, and focus on delivering real value to players, I think the future of the Swedish market remains promising.

SBCN: It has been over six years since Sweden ushered in a legalised marketplace, however, criticisms have been commonplace. Why do you believe this is so, and what has been the cause of such outcries?

CL: The re-regulation of the Swedish gambling market in 2019 was a necessary and progressive move, but naturally, it came with a period of adjustment –  and with that, some criticism. Much of the concern has centered around how the new rules have changed the way operators and affiliates are able to work and also the player experience.

For operators and affiliates, the framework introduced clear responsibilities, but also certain limitations – particularly around bonuses, marketing, and customer engagement. At the same time, players have noticed those changes too, and for some, this has made the experience feel more restricted than before.

Another factor is the competition from unlicensed operators. When regulated operators are playing by the rules and others aren’t, it creates an imbalance – and understandably, that’s frustrating for those committed to compliance and long-term sustainability.

That said, I believe much of this criticism reflects a desire to improve and improve the system, not to dismantle it. The foundation is solid – what we’re seeing now is the market maturing, with all stakeholders pushing for a model that works better for everyone. That’s a healthy process, and one that I think will lead to a more effective, balanced environment in the years ahead.

SBCN: The country has recently revealed that land-based gambling is to be discontinued. Is iGaming regulation the primary reason that such a move has been made?

CL: Not entirely. While the increase of digital alternatives has changed how people choose to play, the decision to close Casino Cosmopol in Stockholm – and bring an end to state-run land-based gambling – mainly comes down to financial reasons.

iGaming has clearly influenced player preferences. People today are looking for more flexibility, convenience, and choice – all of which the online market provides. So while regulation itself isn’t the cause of the closures, the popularity of online operators has made it harder for land-based casinos to stay relevant.

SBCN: Do you see similar closures being made across other geographies as a result of the embrace of online?

CL: Yes, we’re already seeing signs of this in several markets. The move toward online gambling isn’t unique to Sweden – it’s a broader trend that’s been building for years. As more players choose to engage digitally, especially on mobile, the role of land-based venues is naturally being reconsidered.

In many countries, physical casinos are facing the same challenges we’ve seen with Casino Cosmopol: declining foot traffic, rising operational costs, and competition from online operators who can offer a wider selection of games and greater convenience. 

Some land-based businesses are adapting by adding digital components – like online sportsbooks, virtual casino platforms, or mobile apps – to complement their physical presence, while others are starting to close as the numbers simply don’t add up.

It’s not a universal outcome – in regions where land-based casinos are closely tied to tourism or have deep-rooted cultural value, they’re likely to remain relevant. But overall, the direction is clear: online is becoming the preferred option for a growing number of players, and the gambling industry as a whole is adjusting to reflect that.

SBCN: How do you see the future of the Swedish online gambling ecosystem playing out?

CL: I believe the Swedish iGaming market is heading in a more refined and stable direction. The foundation is already strong – we have a regulated environment that prioritises player safety, transparency, and accountability. What comes next is about improving and fine-tuning that framework so it works better for everyone involved.

One of the areas I expect to see continued focus on is responsible gambling. The tools and technologies available today allow for much more targeted and effective interventions, and I think we’ll see the industry working more closely with regulators to develop smarter ways to support player wellbeing – without compromising the overall user experience.

At the same time, I think there’s room for better balance in how rules are applied. There’s been ongoing discussion around the bonus restrictions, for example, and whether they’re achieving their intended goals. 

If the market is going to remain competitive and channel players toward licensed operators, some of those areas may need to be reviewed with a more data-driven approach.

Overall, I’m optimistic. Sweden has what it takes to continue being a leading example of a safe, modern, and well-regulated online gambling market – one that supports innovation while keeping player protection at its core.