Sweden has decided to open up the gaming market for free competition and the new gaming laws will come into effect in January 2019.
Such as decision was welcomed with arms wide open as operators rushed to submit their applications on the launch day hoping to secure the first Swedish license.
The Swedish Gambling Authority, Lotteriinspektionen, has officially opened up the license application process on 1 August, with the market set to open up to licensed international operators on 1 January 2019.
Tombola, Betsson, Global Gaming, Svenska Spel, Casino Cosmopol, Cherry, Expekt, Electra Works which operates Bwin and German-facing Interwetten were among 22 operators to apply on the very first day. Some of the other operators looking to join the pack include NoAccountCasino.com owner Mandalorian Technologies Limited, crypto casino operator CashBet, Gaming Innovation Group-owned subsidiaries MT SecureTrade Limited and Zecure Gaming, both linked to online casino Rizk.
The ones that didn’t submit their applications immediately are Leo Vegas, Mr Green and Sweden-founded giants Unibet and its owners Kindred Group. Up to 70 license applications are expected and they will all be thoroughly looked through. Sweden is known for doing things meticulously and they have already changed plans in the past in order to satisfy all the existing EU laws.
The Swedish Regulator said licenses will only be awarded to those with “the knowledge, experience and organization required to operate the business and who can be assumed to operate the business in accordance with laws and regulations applicable to the business, and who are otherwise considered to be suitable to operate the business.”
Svenska Spel monopoly will end and the state-owned company is already working on a series of enhancements to keep up with the tough competition from January. Betsson has been operating in this market since 1963, and this opportunity fulfilled their dream to add iGaming to their provision.
“It is good that Sweden has decided to open up the gaming market for free competition in a controlled environment. That today we can submit a license application is a milestone for both Betsson and the gaming industry. We look forward to being able to operate in our home market as a recognised operator.”
Pontus Lindwall, CEO of Betsson, the company that already holds licenses in 11 jurisdictions and reported growth in the first half of 2018, boosted by the impact of World Cup, commented.
More than 1,500 documents were filled with Lotteriinspektionen by the operators, all eager to be ready for go when Sweden opens its gambling market on the first day of next year and all licensees will be taxed at 18%.
This gaming license enables competition on equal terms and gives Swedish customers access to the games they desire under a Swedish regulation, which in the long term is positive for customers, operators and shareholders.
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