Sweden tightening regulations on online gambling

Posted by Gerry Poltorak on Apr 18, 2018 Posted in Poker Industry News | No Comments »

Swedish officials are planning on tightening regulations on online gambling for the Scandinavian country as new legislation are being proposed. These new measures will include a new licensing system which will bring up prohibitions against the illegal operations of online gambling and gambling websites. This is being done to launch stronger protection to the players. 

A government press release stated that these procedures will come into effect as the new legislation from 1st January 2019. Estimates for combined sports betting and online casino license stand at $84,000. 

Sweden officials have for a long time cried asking for assistance in the past; in a recent interview with Sweden’s Public Administration Minister, he pointed out that unregulated gambling has taken over. He went on to say that online gambling is being used in criminal activities and for the first time and inquiries committee has been appointed to discuss matter online gambling in fourteen years. He says that this is a great move that will assist them a great deal in regaining control over the Swedish gambling market. 

The government has declared that this is the new law for upcoming online casinos planning to open a business. This might also halt current online gambling operations that do not have a license from offering their services to players in the country. With these new regulations, all online casinos operating without a license will be asked to close shop. This new rules will also create more player protection in reference to the memberships where the bonuses will be required. Players will have the liberty to exclude themselves from casino bonuses but they currently do not have the option. 

The Swedish capital of Stockholm is at the height of discussion on this where they will prohibit unlicensed online sites from selling their services to players in Stockholm. More to this, the gaming regulation in the country is expected to ask Internet Service Providers to display warning messages for sites that might be unlicensed and this will prohibit all money payments and transactions. 

Swedish online gambling sites have been able to offer their services unregulated and have been charging rates they deem fit on deposits that they see fit for returning or first-time players. Most of the online casinos do not address problem gambling and have been able to make huge amounts of money from players who might not be encouraged to play if these tight regulations are implemented. 

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