The online gambling market in Sweden may be young, but that is not stopping it from growing at a rather impressive speed. Lotteriinspektionen, a Swedish casino regulator, has revealed that the revenue of the online gambling market has grown by 5% year-on-year in the first nine months of 2016 alone.
Young market, big numbers
The total gambling revenue currently earned during the first three quarters of 2016 has reached a staggering SEK16.2 billion (or €1.6 billion).
Svenksa Spel, the state-owned gambling company, confirmed a flat revenue of SEK6.5 billion with a climb of 12% year-on-year from online gambling alone. However, revenue from land-based casinos has dropped by 3% to a total of SEK5.17 billion.
“Svenksa Spel also accounted for 40% of total
gambling revenue in the country.”
Online casino operators from other countries generated SEK3.66 billion which accounts for 23% of the total revenue. The generated sum has increased by a whopping 16% since 2015.
The Swedish gambling and online casino market shows promise and doesn’t seem to be slowing down. The more players get involved, the more this market will continue to soar which can only mean good things for Sweden!