The online casino market has become highly regulated in the last couple of years especially in regards to jurisdictions. After years of very little regulation in this area, each country now has its own distinct set of laws relating to online gambling. The latest country in the spotlight is Sweden, and the country is preparing for its new regulated market, set to get underway in 2019.
On Friday, Sweden’s regulatory body Lotteriinspektionen announced that it has so far received sixty applications to operate online casinos and gambling platforms in the country’s liberalised gambling market. The market opens up on 1st January 2019.
Of the licenses, fifty-five are seeking online casino and sports betting licenses, but the regulator did add that some applications are incomplete and the regulator has begun informing some operators that they need to complete their application or run the risk of not being approved by the regulated market’s official launch date.
Sensible Rules Across Europe
Although Sweden has seen some hiccups in the process, it’s another country that has shown the overdue need for jurisdictions to enact sensible rules including sensible taxation, which will in Sweden’s case be 18% of the casino revenue.
Sweden is just the latest country to bring in its own gambling laws following countries such as Portugal and Poland to liberalise and license online casino play. Poland for instance opened up its online casino market around eighteen months ago, but has so far only issued ten casino licenses, The Netherlands has been criticised for being slow to reform the market, while Sweden has already received sixty applications for new licenses.
There’s nothing to do now but wait for January to see how the market pans out for Sweden and other countries will be watching keenly to see how it all works out.