Young People Are Avoiding Online Gambling in Sweden
Sweden officially opened its doors to foreign online gambling companies in January of this year. With these new online gambling laws came a large number of regulations. One regulation allows Swedish citizens to exclude themselves from gambling websites and ads using software called Spelpaus. News is being reported that young people are avoiding online gambling in Sweden with the software more than any other demographic.
It’s an interesting development. Previously, it was thought that a younger demographic would be more inclined to gamble online. Today, we’re going to talk about why the younger generation is staying away from gambling, and what this means for the country’s online gambling industry moving forward.
Sweden’s Gaming Self-Exclusion Laws, Explained
For many years, Sweden was completely against the idea of opening its internet gaming industry to foreign companies. According to an article published by Reuters, this country held a state-run monopoly on the gambling industry named Svenska Spel. As you might expect, this monopoly brought in valuable revenue to Sweden’s economy.
Things began to change over the past few years. Lawmakers here realized that many Swedes were choosing to gamble online through unregulated foreign sites. In order to combat this issue, the government allowed companies based abroad to operate in Sweden after obtaining a license from the government.
The Swedish government is trying to cover all the bases with online gambling regulation. They’ve limited gambling advertisements in the country. Any companies caught breaking these laws are faced with heavy fines and potential license revocation.
Sweden also announced that locals have the option to self-exclude themselves from all gambling activities. Using the website Spelpaus.se, Swedish citizens can completely remove themselves from all gambling ads and websites. Interestingly, news is coming out that people between the ages of 25 to 34 are avoiding online gambling in Sweden the most.
Why Is the Younger Generation Avoiding Online Gambling in Sweden?
It’s interesting to see such a large number of young people utilizing Spelpaus. According to Sweden’s national Gambling Authority, 40% of all the people choosing to stay away from gambling are between the ages of 25 to 34. This past May, nearly 3,000 people signed up to Spelpaus.
There are a number of reasons why younger people are choosing to avoid gambling. For one, younger people have less money to spend than the older generation. Online gambling can lead to heavy monetary losses, particularly amongst those with gambling addictions.
The issue of problem gambling has to be playing a part here, as well. Sweden, like many other European nations, is currently experiencing a major issue with gambling addiction. A recent study found that in this country, women account for more gambling addicts than men.
Younger Swedes may be more aware of the potential pitfalls of gambling addiction. There is no clear answer to why younger Swedish people are choosing to use Spelpaus.
Is Sweden’s Online Gambling Market in Trouble?
We went over this subject a few months ago. Since that time, much has changed in Sweden’s gaming market. We still feel that this market is in no danger of failing.
In many ways, Sweden has been smart in its tight regulations. Unlike countries such as the UK, which is just now beginning to tackle the issue of gambling addiction, Sweden has fought against it since the beginning. The fact that so many young people are avoiding online gambling in Sweden goes to show that the regulations in place are working.
It’s also important to note that online gambling revenue is increasing here. Until this changes, Sweden’s online gambling industry is in no danger. Make sure to follow our industry news page on updates to this country’s gambling laws and regulations.
Are you surprised that young people are avoiding online gambling in Sweden? What does this mean for the industry moving forward? Let us know what you think in the comment section below!
Malaysia has never been considered a gambling-friendly country. In recent m...
For most of 2019, Italy’s gambling revenue has increased. Unfortunately, ...
It appears that the world’s top mixed martial arts promotion is getting i...
Greece is making some significant changes to its land-based and online gamb...