Sweden Submits Proposed Regulation Guidelines to ECPublished April 11, 2018 by Lee R
The monopoly in Sweden has transformed into a cutting edge regulation model.
Further licensing guidelines for the Swedish regulation system were submitted by Scandinavia’s largest country to the European Commission EC, bringing the timeline of the advent of licensing in Sweden into clearer focus.
The laws covering international cooperation, responsible gambling, fees, supervision and licensing have adjusted original forecasts from July 1st to August 1st for license issuance in Sweden.
The Licensing Process
These dates refer to passage of the regulation, which actually won’t be enacted until January 1, 2019. The licensing process will begin in August, with gaming operators passing through an acceptance process that includes a payment of SEK400,000 ($47,800) for gambling operations only, with those operators seeking to offer betting options additionally required to pay SEK700,000 ($83,000).
Categories of Games
Further regulation specify the types of games the Swedish licensing system will permit, allow, as well as guidance on future regulations. Categories of games include online bingo, virtual slot machines, dice and card games and roulette.
As far as betting, the only stipulations that league and sport betting will face are in cantering races and Swedish trotting, with regulators continuing to monitor gambling activities and implement restrictions as appropriate, with match-fixing being a key point of adjustment where necessary.
The legislation also addresses the use of personal data, self-exclusion for problem gamblers and time and spending limits.
The Waiting Period
Sweden now awaits a window for comments or objections from the EC. If none are raised, the licensing process may go forward as currently planned and submitted.
This is a big moment for iGaming, because Sweden was commonly considered the country where a monopoly on gambling would inhibit the rise of iGaming and general operator entry. This represents an epochal moment with Sweden now formally working with the EC, with whom it often butted heads, to join the community of European countries offering iGaming in free market conditions under uniform regulatory conditions.
The more European countries agree to work under uniform guidelines, the greater is the potential for more operator movement across jurisdictions, and shared liquidity of competition pots down the line.