Gambling applications open for Swedish Market

Published by CasinoTopsOnline on March 2, 2018

Swede Gambling NewsIt’s no secret that the Swedish government has been working on an extensively detailed open gambling regulation model. Since the start of this year it has been one of the most discussed topics among gamblers, gambling operators and all those looking to get a foot in the door of the Swedish market.

The government has taken great care in revisiting its online gambling legislation and drafting framework that will make way for the national iGaming marketplace.

End February this year, Sweden’s gambling regulator, Lotteriinspektionen, announced that it is planning on opening up a licensing window from the 1st of July 2018.

The regulatory provisions required have already been made public by the end of 2017 although back then it was only considered a draft list. While most companies looking to get into Sweden’s iGaming market may believe they’ve already covered all the bases they should expect some last-minute changes from the government.

Debates around the expected Tax Percentage

It is to be expected that there will be some debate regarding the planned tax rates which will be leveraged against online gambling operators who are granted a license in Sweden. Up to this point it was mere speculation but many believe there will be a tight 18% tax imposed on all operator revenue earned in the country.

Tax has been known to be a massive factor and cause of arguments. When tax is too high it generally results in massive debates that continue until a compromise can be reach. The countries gambling regulator, Lotteriinspektionen however believes that adding tax of 18% shouldn’t cause too much outrage or disgust among European operators. In fact the regulator believes that some of the huge brands interested in entering the market will look passed it just to get a foot in the door.

What to expect from the Application Process

From the 1st of July 2018, Lotteriinspektionen will be going through and review all licensing applications made by both foreign and domestic gambling operators who wish to be legalised in Sweden.

The good news is that Lotteriinspektionen will not be limiting the amount of applications they are taking into consideration. This means that each and every operator who wants to be legal in the Swedish market could apply and possibly get approved if the review is successful.

Operators shouldn’t expect to become active or approved any time soon as Sweden will only fully implement their new national gambling legislation from the 1st of January in 2019. The new legislation will replace the previous two gambling bills, 1994 Lottery Act and 1999 Casino Act, to become the only valid legislation.

While things are considered to be moving quite slowly it is safe to say that progress is being made and pretty soon a new market will be open which will lead to more revenue and avenues to explore. It’s clear that while open to the idea of a national iGaming market, Sweden is going through great lengths to ensure everything runs smoothly and a well-established structure is followed.