SBC News Voice of the Sports Betting Industry
Facing mounting pressure from the European Union to reform its national gambling framework, and adhere to EU business and competition policies, Sweden’s Ministry of Finance has responded by stating that it will undertake a full review of its policy on the matter.
Detailing its plans, the ministry stated that it needed to update its policies in order to monitor an international market targeting national consumers. Furthermore the review would focus on implementing online gambling policy, for Sweden one of the highest bet wagering nations in the EU.
At present European licensed operators have targeted Sweden as a ‘grey market’ nation, causing rifts between its state owned gambling operator Svenska Spel and national gambling regulator Lotteriinspektionen.
Swedish news sources have stated that the Ministry’s directive will further review Svenska Spel operations as consumer activity grows on unregulated sites. The state owned operator has recorded a year on year revenue declines against the rising take up of international operators.
Lennart Käll CEO of Svenska Spel is said to have welcomed the governments proposed review, as a new regulatory framework and licensing would limit the amount of international operators targeting Swedish consumers.
The majority of Swedish elected ministers are in favour of modernising gambling laws in order to be in line with EU directives. In September Ardaland Shekarabi Sweden’s Minister of Public Administration publically stated that he was willing to lead initiatives.
Furthermore a number of ministers have urged the government to speed up the review process in order to implement initial policy plans before the country’s next General Election which is scheduled for September 2018
