Sweden Issues Licenses For Online GamblingBy: Rick Balding, Monday December 3rd 2018
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Sweden is the next European country to enter a regulated online gambling market regime. Starting 1 January 2019, only those operators that have been granted a license will have the right to conduct online gambling activities in Sweden. The popular brands LeoVegas and Betsson were among the first to receive licenses.
The licensed and regulated gaming environment will enable competition on equal terms and will give Swedish customers access to the games they desire under Swedish regulation, which on the long term is positive for customers, operators and shareholders. The Swedish betting duties is set at 18%.
LeoVegas, a subsidiary of LeoVegas Gaming Plc, announced that its application to conduct casino and sports betting online has been approved. Sweden is the home market for LeoVegas, which makes the license all the sweeter. Gustaf Hagman, LeoVegas Group CEO, released an extensive statement on the occasion. He called this event a milestone in LeoVegas history. The application process was extensive and the team worked hard at it. He pointed out that LeoVegas currently has gaming licenses in several countries and has thus broad experience operating in a regulated environment.
One of the reasons for the success of LeoVegas in regulated markets has been their focus on responsible gaming through LeoSafePlay. Hagman reiterated that this area will continue to make up a fundamental part of their operations. Another strength of LeoVegas is their mobile gaming product. Hagman said that this combination was hard to beat and gave LeoVegas a strong position in their home market where they continue to grow. Today 35% of the LeoVegas revenue is generated from regulated markets. With Sweden as a regulated market from next year, this figure is expected to be approximately 60%.
The Betsson Group has also received a license to conduct online gaming in Sweden. It is also a Sweden based company. The licenses are for the brands Betsson Poker, NordicBet and Sverige Automaten. Betsson now holds licenses in 12 online gaming jurisdictions. Betsson is not an unknown entity in Sweden. Even before the arrival of online gaming, the Betsson Group has been offering gaming entertainment to Swedish customers since 1963. It has played an instrumental role in pushing the development of the Swedish gaming market. Pontus Lindwall, CEO Betsson AB, said, “It is good that Sweden opens up the gaming market for free competition in a controlled environment. We look forward to operate on our Swedish home market as a recognized operator on equal terms.”
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