Sweden’s online gambling market became a sure shot winner

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With the record-high revenue recorded in its first year of regulated operations, Sweden’s online gambling market became a sure shot winner. The success factors are not clear to the local gamblers.

The data released by Spelinspektionen, the regulatory authority of gambling in Sweden indicates that SEK24.8b revenue was generated by the local gambling operators in 2019. The figures as released on Thursday also revealed that the final quarter exceeded expectations with a total of SEK6.65b revenue. These stats have been released by the Swedish Tax Agency as preliminary data.

The gambling scene in 2019 gained momentum in 2019 and with its rise of nearly SEK1.4b revenue from that of 2018, it certainly has set new records. Spokespersons from Spelinspektionen said that the gains reflected might not have taken into consideration revenue collected by other internationally licensed operators, especially in the previous year.

No doubt that with the online gambling sector recording SEK3.65b as overall revenue in Q4, the Swedish operators can credit their regulated states. As cited by Spelinspektionen, the H2 Gambling Capital figures revealed that the data released by the international site ranged from SEK1.8b-2.2b in 2019. It is presumed that in all probability of this revenue around SEK580m to 690m would have been generated in Q4.

In Vegas, the State-run lotteries and the slot game business at land casinos by Svenska Spel reported revenue of SEK5.9b. On the other hand Casino, Cosmopol recorded revenue of SEK975m while the other lottery operators reported SEK3.4b revenue.

Currently, 96 companies have been conferred the licensed status by the Sweden gambling regulatory authority. These operate in Sweden among which 70 operators hold the license for online gambling. It was just last week the casino operator such as Oring Limited, based out of Malta claimed its license to begin its online gambling operations. Oring Limited runs Twin.com now.

With its online gambling regulations in place, most sites with the new online status have registered for the self-exclusion responsible gambling program at Spelpaus. In 2019 around 48000 names were recorded and this month another 1000 names have been added to that list.