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Spelinspektionen Issues 116 Casino, Betting Licenses Since Market Liberalization

As many as 72 gambling companies are competing for a bigger share in Sweden’s gaming and betting space, Spelinspektionen revealed

Spelinspektionen has issued 116 licenses for the provision of gambling services under Sweden’s new gambling regime, the Swedish gambling regulator said in a statement from earlier today.

More than a half of all license granted by the regulatory body were for the provision of online casino games on the territory of Sweden, it further became known. Spelinspektionen said today that it has issued 62 online casino licenses over the past few months, which indicates the popularity of the segment among Swedish gambling customers.

Of the remaining portion of licenses awarded by the Swedish Gambling Authority, 44 authorized the provision of sports betting services. There were a handful of licenses issued to operators interested to run land-based casino operations.

In its latest update on the growth of the newly regulated local gambling market, Spelinspektionen further noted that licenses have been granted to 72 operators, which means that around two-thirds of all market participants applied for more than one type of license.

Sweden’s new gambling law took effect on January 1, 2019 after the Scandinavian nation’s government spent several years of reviewing and crafting a legislation that would best fit the growing demand and necessity for re-organization of the local gaming and betting space.

Gambling Advertising Grows Prompting Discussions about Possible Limitations

According to Swedish research house Mediavision, newly licensed gambling companies have upped their advertising game significantly since entering the re-organized gambling space. Operators aim for a larger market share in this highly competitive market and most of them have opted for aggressive marketing initiatives to secure greater brand awareness among local customers.

Ads of online casinos can be spotted most frequently across local media outlets, Mediavision says, with that trend being most prominent across television. According to the media research firm, total delivered target rating points in January 2019 were up 2% from the same month last year when the market was yet to be reorganized.

Spelinspektionen and Swedish lawmakers have been quite clear that the local gambling space would be monitored strictly so that any violations of the new regulations are prevented timely.

The increased advertising of gambling products targeting local customers has prompted a new round of discussions on whether further marketing limitations should be introduced. Last month, Swedish Minister for Civil Affairs Ardalan Shekarabi urged licensed operators to jointly come up with a solution that would rein in the increase in gambling advertising.

The official has further mused that Sweden might look at the measures adopted by other regulated jurisdictions to limit the excessive advertising of gaming and betting products, including the UK where gambling operators have agreed to ban in-game live sport ads across TV.

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The post Spelinspektionen Issues 116 Casino, Betting Licenses Since Market Liberalization appeared first on Casino News Daily.

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