It was back towards the end of 2017 that the Swedish government officially presented the proposed online gaming legislation to the European Commission.
The European authorities will take a closer look at the proposed legislation during the three months of designated review time which is set to expire on 20 March 2018.
In the meantime, key details of the proposed law have been leaked to the public with some of its features raising plenty of eyebrows already.
Under the terms of the new law, Sweden will be issuing online gambling and land-based betting licenses on a five-year validity period. Another important note deals with the casino bonuses which are set to be limited for ‘the first time the player uses an operator’s product’.
One of the main talking points of the new law are the gaming taxes which have been proposed at 18% of the gross gaming revenue (GGR).
Another crucial aspect of the new gaming law will deal with problem gamblers. License holders will be obliged to take all necessary measures to prevent and reduce problem gambling as the central government aims to regain firm control of the Swedish gambling market.
A firmer grip is expected on unlawful gambling activities and promoting such behaviours with a new criminal classification – gambling fraud – which is expected to be introduced.
The new gaming law is aimed at tackling the problem of unlicensed online operators.
It is reported that unlicensed operators gained the total of SEK4.045 billion in revenue during the period in question, whereas the entire legal gambling market in Sweden was worth SEK16.557 billion.
“We are now proposing legislation entailing that operators receiving a licence to conduct activities targeting Swedish consumers must comply with Swedish rules. This will also give us the tools to keep those without a licence out. The new gambling regulations will be designed as a licence system, in which all operators providing gambling services in the Swedish market must have a licence. Operators without a licence will not be allowed to provide gambling services.”, Minister for public administration Ardalan Shekarabi said.
With the new law, Sweden is hoping to regulate its complete market and ensure all gambling activities in the country are conducted in a safe and sound manner.
The new regulations are set to enter into full force in January 2019.
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