Spelinspektionen Issues 116 iGaming Licences
Once Sweden decided to relax its gaming laws and open up its iGaming market, operators from around the world made a rush to get in and get a piece of this newly opened market. Spelinspektionen, the main gambling regulator in the country has so far issued 116 licenses to iGaming operators in different parts of the world.
A majority of the licenses granted, were given to iGaming operators who were keen on launching online casino services in the country. It has only been a couple of months since the Swedish government relaxed its gaming regulations and the response has been very strong. Out of the 116 gaming licenses issues, 62 licenses were given specifically to operators who wanted to launch online casinos. This just goes to show how popular online gambling is in Sweden.
As many as 44 of the licenses were for sports betting services, while a few of the remaining license went to land-based casinos. An additional twist to the applications is that only 72 operators applied. This means that many of these gaming operators have applied for multiple licenses.
The new gambling laws for Sweden came into effect on January 1, 2019. This was after years of consideration and deliberation by the Swedish government. Years were spent in drawing up plans and developing the right type of regulations so that the demand for gambling could be safely met by the country. The country’s growing gambling market also caused concerns over problem gambling but regulators are confident the new regulations sufficient address those concerns.
Gambling Ad Growth
The issuance of so many gambling licenses and the potential growth of the gambling industry in Sweden is positive. The entry of so many gaming operators has witnessed a spike in gaming related advertisements. A recent study by Mediavision revealed that a lot of new licensees have boosted their gambling advertisement efforts in an effort to capture a large market share.
They are doing this in order to boost their media presence and build brand visibility in a new market.
Currently, online casino ads are visible on multiple outlets, with television being the main venue. The increased advertising has many concerned and there are rumors that Sweden may soon come out with strict advertising regulations that impact gambling operators and their advertising campaigns.