Unregulated Online Gambling Plays Major Part in SwedenPublished March 16, 2018 by Ivan P
Unregulated gambling market in Sweden has produced more than €550 million in 2017, which is around 25% of the entire proceeds from gambling activities in the country.
Currently, online gambling in Sweden is unregulated but not illegal. Various types of unregulated gambling activities also represent a huge market, which was worth more than 5.5 billion SEK (around €550 million) in 2017. Over the past decade, sports betting has been the favorite activity of Swedish gamblers, although other types of online gambling have been on the rise lately as well.
Interest in Online Casinos Growing
Back in 2008, online betting accounted for more than 50% of the overall unregulated market. By 2017, this number decreased by few points, dropping to 42%. At the same time, the popularity of online casinos has increased quite significantly over the past decade. From 21% in 2008, their market share in 2017 grew to 40%.
Online poker is the one segment of the market that suffered the most. In 2008, during the boom years, the activity accounted for 20% of the total market. In 2017, that number dropped to single digits, standing at just 9%.
Introducing a New Regulation
The whole gambling market in Sweden was worth SEK22.6 billion last year, which means the unregulated segment accounted for about 25% of the overall value. In light of these facts, the country has decided to reconsider its position and change its current regulation laws.
Starting with 2019, Sweden will allow interested operators to apply for licenses with Lotteriinspektionen, the country's main regulatory body. The application process for the interested operators should kick off on July 1, 2018.
If the current information is anything to go by, there will be no lack of candidates. In the current, unregulated climate, a number of large casino operators has been spending a lot of money advertising specifically to Swedish players.
Two casino groups, Unibet and LeoVegas, have been leading the way in this respect, spending SEK443 and SEK331 million respectively on various advertising campaign in Sweden last year. Now, with the regulation looming, experts believe the interest and advertising efforts of various operators will only grow.