Posted in Industry December 15, 2018
Swedish Gambling Authority Awards Its First Licenses
The Swedish Gambling Authority (SGA) has granted its first approved licenses, following in the footsteps of other major regulatory bodies such as the Malta Gaming Authority and the UK Gambling Commission. Well-known online casinos that received licenses to operate in the Swedish market include Betsson, Casumo, Bet365, and LeoVegas.
2019 has been an eventful year for the Swedish gaming industry, which has been filled with optimism, anticipation, and excitement for stakeholders. The law was approved by the Swedish Parliament on June 7, 2018 and applications were received from August 1, 2018. With the first batch of licenses announced, the Swedish Gaming Authority has now paved the way for a more competitive and open market.
Casumo, LeoVegas, and Betsson Among the First to Receive Licenses
The authority has received over 95 applications, with over 70 of these applications being focused on the popular online gaming market. The numbers could actually be higher since one applicant can own multiple brands. The most popular online gaming companies that received attention include Casumo, LeoVegas, and Betsson, which are currently the most favored by Swedish players.
Although Casumo and LeoVegas have received their licenses, the validity of their licenses has been reduced to two years instead of the maximum five years. The reason is the reported transgressions these casinos have committed in other markets. This is part of the SGA’s policy to carefully screen the applicants and ensure compliance with all regulatory requirements. The applications are continuously being reviewed and the notifications will be announced in the next few weeks, depending on the complexity of the cases. In the case of Casumo and LeoVegas, the SGA found infringements and used them as a basis for granting licenses for a shorter period of time.
Approved Licenses Have Certain Restrictions
In order to restrict the industry and prevent match-fixing, the licensing body has imposed restrictions which include prohibiting betting on events where a majority of participants are below 18 years of age or on offensive or inappropriate content. Betting is also not allowed in areas that will be subject to planned regulations on the prohibition of game fixing. All licensed companies are mandated to join Spelpaus.se to promote responsible gaming and the use of the self-exclusion system.
Additionally, licensed operators are required to display three logos at the top of their websites for players to easily check and access these tools when needed. All licenses approved by the SGA will take effect starting January 1, 2019.
