The Swedish Gambling Authority will publish a press release on August 1, 2018, stating that a new gambling law is set to take effect in Sweden. They recently took a final vote on whether this new legislation would become law just a few months ago as it was held on July 5. This law is set to be called re-regulation of the gambling market and was officially published on July 12, just a week after the final vote was held. August 1st is also when they will begin accepting applications for those looking to host various online gambling events. This new law is expected to take effect on January 1, 2019, and clearly states that anyone who is looking to host services for online gambling and betting must apply for a license to host these types of events.
Once a person applies and has their application approved, they will need to pay about 400,000 SEK for either an online gaming or gambling service or 70,000 if they wish to host both of them. This is equal to about $45,707 for one of those services and almost $80,000 for both. Of course, this law only applies to international companies but, nevertheless, it’s still a lot to pay for being able to operate your online gambling business. However, as part of the deal, those who pay the fee and have their online casinos regulated will be able to advertise across any type of platform imaginable to help them drum up more business.
They recently uncovered two gambling operators who were among the biggest advertisers in the Swedish advertisement industry despite not having a license. Now, however, with this new law in effect, it’ll be much more difficult for people to operate their online gambling ventures without a license, thereby making them more susceptible to the long arm of the law. Of course, these advertisers will only be able to reach an 18 and over demographic as they have strict laws in Sweden regarding underage gambling. As they look to expand their gambling enterprises across the continent, many online casino owners are looking to become part of what is expected to be one of the largest regulated casino hubs throughout Europe.
They have so much confidence in this new program that they’ve already invested over 1.8 million SEK in this project which equates to just over $2 million. In particular, Unibet has become one of the biggest investors in this new project. Additionally, as part of a program that is expected to last about six years, the company has already pledged to donate 150 million SEK over the course of that time. This equates to over $171 million. This new project is set to take effect on January 1, 2020, and Unibet’s current goal is to replace Svenska Spel as the most lucrative gambling company in all of Sweden. Whether that actually happens remains to be seen but, in the meantime, it seems there’s a lot for Swedish gamblers to look forward to.
