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Sweden Open to Gambling Applications from July 2018Published February 27, 2018 by Mike P
Sweden is going to accept new gambling applications from July 2018, with the national market introducing new legislation in January 2019.
Sweden’s gambling regulator, Lotteriinspektionen, is planning to open up a licensing window from 1 July 2018. This announcement has followed a period of time in which the Swedish government has revisited its online gambling legislation and drafted framework to enable the opening up of the national iGaming marketplace.
Much of the information was available through the publication of a list of regulatory provisions. Those provisions were revealed towards the end of 2017, but that list was only a draft list. As a result, there is scope for the government to initiate some last-minute changes that could catch some gambling operators and iGaming companies off guard.
Expected Tax Percentage
One of the biggest causes for debate is to be the planned rates of tax that shall be leveraged against any online gambling operators that will eventually be licensed in Sweden. Thus far, there was been ample speculation to suggest that there will be an 18% tax imposed on operator revenue earned in the country.
Tax can often prove to be a source of contention, with the UK having previously introduced a point of consumption tax to much debate. In Sweden, however, an 18% tax is not expect to put off major European operators from situating in the country, with Lotteriinspektionen expecting some huge brands to be interested.
Application Process Set for July 2018
Starting on 1 July, Lotteriinspektionen will begin to review licensing applications made by domestic and foreign gambling operators seeking to become legalised in Sweden. Lotteriinspektionen has clearly stated that it will not place a limit upon the amount of applications that are to be considered.
Six months later, Sweden is going to fully implement the new national gambling legislation as of 1 January 2019. The newly drafted legislation shall be used to replace two previous gambling bills, which are the 1994 Lottery Act and also the 1999 Casino Act.