Although Europeans love gambling, most countries in the continent have strict rules and regulation. However, change is taking place. Take for instance the Swedish gambling regulations. The country used to have very strict online gambling rules until the government reformed them this year.
At the start of 2019, Sweden implemented new laws that ended the monopoly of the state-run online gambling company. The new Swedish gambling regulations opened the market to private companies.
For several years, Svenska Spel was the only company allowed to have online gambling operations in Sweden. It had a monopoly on online sports betting and casino games. However, many online software sportsbook operators skirted the law and got around 29 percent of the market.
New Swedish Gambling Regulations
The government introduced new Swedish gambling regulations as a way to get more tax revenues. The new laws allowed private sportsbook PPH operators. At present, regulators issued licenses to about 100 companies.
The new Swedish gambling regulations opened the online sports betting software and gambling market. As a result, Swedes have more options when it comes to placing bets online. Consumers can read pay per head reviews to find the right providers for their needs.
Also, it is a win-win situation for the Swedish government. It will bring more tax revenues. In fact, licensed operators pay a tax rate of 18 percent of their profits. It takes effect this year and Swedes will see the results of the new income source in next year’s budget.
With the new gambling law reform, it gives players more choices. At the same time, regulators can protect consumers from bd companies. Promoting gambling services with a license in Sweden is not allowed. The Swedish Gambling Authority can block transactions between unlicensed operators and players.
Also, the new regulations strengthened rules on responsible gambling. Authorities have the power to require operators to implement measures to protect players.