Sweden Ramps Up Preparations for a Fully Regulated Online Gambling Market

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Sweden Ramps Up Preparations for a Fully Regulated Online Gambling Market

Major online casinos and software operators are scrambling to obtain Swedish gambling licenses before the New Year. Under new law changes, Lotteriinspektionen is doling out licenses to operators ahead of Sweden fully regulating their online gambling market on January 1.no purchase required casinos
Under the new laws, any operator (or game provider) wishing to offer their services to Swedish players are required to obtain an iGaming license from Lotteriinspektionen. In the run-up to Christmas, the Swedish gambling authority dispatched 28 licenses to operators, bringing the total to just under 80 in all thus far.

So far, Lotteriinspektionen has not rejected any applications for gambling licenses. The terms are steep, and the price is high for Swedish gambling licenses, though. The iGaming licenses themselves cost between €43,000 and €78,000.
On top of that, license holders will also have to pay a tax of 18% on any income generated from players based in Sweden. Players needn’t worry about any increase in taxation, though. The new law changes specify that Swedish players will continue to be able to pocket their winnings tax-free.
The new law is not as simple as operators stumping up the cash for a license and paying their tax, though. They will also have to comply with a new set of laws and regulations to ensure that fair gaming is adhered to, that their security protocols are up to scratch, and that player protection is ensured. Failure to do so would see an operator or game’s provider lose their license, or see their application rejected. This aspect of the new laws, however, is something many players in Sweden have long called for and will welcome.