Sweden Announces New Fines for Gambling Operators
Sweden’s online gambling industry is still new. This country’s gambling commission has worked hard to implement measures that protect players. Unfortunately, not all companies are abiding by these laws. Sweden’s gambling authority is issuing new fines for gambling operators recently caught breaking the bonus rules set in place.
This country is known for having some of the strictest internet gaming regulations in Europe. Today, we’re going to look at what laws these companies were caught breaking. Let’s get into it!
Sweden’s Online Gambling Laws in a Nutshell
Sweden tightly controlled its online gambling industry for many years. Eventually, lawmakers here began to realize that many people were gambling online through unregulated websites. To stop this problem, Sweden opened its doors to foreign gaming companies through a licensing process.
Online gambling operators based abroad can now legally operate inside Sweden. Most of the regulations for these companies revolve around gambling advertisements. Sweden’s gambling authority is considering a blanket ban on all gambling ads.
Back in February, Sweden allowed citizens to exclude themselves from all gambling ads and websites. Using a website called Spelpaus.se, these people can completely ban themselves from the online gambling market. Interestingly, more than 40% of people using this service are between the ages of 25 and 34.
Online gambling operators here can only offer one bonus to their members. Not all companies are following this rule. The new fines for gambling operators in Sweden prove how serious this country is about protecting its citizens from the dangers of problem gambling.
New Fines for Gambling Operators in Sweden
In February, the Swedish government sent a warning letter to a number of online gaming companies for not following gaming regulations. This month, the government has announced new fines for gambling operators here.
Two companies are facing charges for breaking Sweden’s gambling laws. According to the gambling authority, these companies offered members some recurring bonuses.
Genesis Global must pay more than €160,000 to the government. AG Communications’ fine is slightly less at around €47,000.
Sweden’s gambling regulator made a statement on the new fines,
“The main purpose of the new gambling regulation, which came into force on January 1, 2019, is to strengthen consumer protection and reduce the negative effects of gambling,”
“The limitation on bonuses is included in the law to reduce social and economic harms and to tackle problem gambling.”
Are Regulations Here Getting Even Stricter?
Sweden is sending a clear message with these fines. Companies must abide by the law. Those caught breaking these laws multiple times will face a license revocation.
There are no signs that online gambling regulations here are becoming stricter. This country already has one of the harshest set of gambling regulations in Europe.
Many European nations are experiencing serious issues with gambling addiction. The UK is said to hold more than 400,000 gambling addicts. According to the Irish Times, one in 10 children in Ireland regularly gambles illegally. Sweden wants to avoid these issues.
It seems unlikely that Sweden will ramp up its internet gambling laws even more. Companies operating here may decide to leave the market if these regulations become too severe. That’s not what Sweden wants.
Do you think the fines issued on these companies is fair? Are Sweden’s gambling laws effective? Let us know in the comments section below.
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