by Ashley Elizabeth on Oct 30, 2021
The mentality of the Swedish population does not imply too strong a penchant for gambling. The descendants of the Vikings are very practical and do not like to spend money on entertainment. However, as in any country in the world, there are still casino lovers in Sweden.
Sweden to remove deposit cap on 14 November attracts the interest of many players. Let us sort out possible consequences.
On November 14, the Swedish government will cancel the previously adopted temporary restrictions on the operation of online casinos. The authorities will no longer implement the policy applied since July 1, 2020, as a protective measure for Swedish citizens during the COVID-19 pandemic.
In addition, they severely limited bonuses for players. The casino had the right to issue only one type of bonus – a welcome bonus upon registration. Its size was limited to only 100SEK (10€). Because of these restrictions, licensed operators introduced a mandatory weekly deposit limit of 5,000 SEK (480 euros).
The regulator exceeded the restrictions twice.
However, even such strict restrictions did not work in full.
Firstly, restrictions on deposits reduced the level of the government-regulated market below the desired 90%. Before that, the Swedish jurisdiction had one of the highest indicators of industry transparency in Europe.
In addition, several operators have found a way to make a bid no higher than the regulated amount. They allowed deposits for a significant amount, explaining that the players used for betting on sports, not online casinos. Therefore, many online casinos instantly combine two businesses in one platform.
Some experts believe that after the first operator won a court confirming the legality of this operation, the regulator's restrictions do not make sense.
According to the legislation, restrictions concerned only one licensed provider. Therefore, players with two or more accounts with different operators can spend more than the weekly limit. It led to the fact that users registered on many online platforms at once.
The second consequence was that many casinos began to create mirrors and copies of their main sites. A single operator combines such site collections.
The Swedish regulator failed in practice to track down and stop the offer of bonuses at all online casinos. To work fully, the government needed to create a central registry to which every operator and regulatory body would have access.
However, this measure would combine a large amount of personal data of players and confidential business information of licensees. Tracking players' online activity is a violation of the European Convention on Human Rights.
The regulator tried to block more than a hundred unlicensed online casino sites. However, they faced the refusal of financial institutions. Banks refused to provide confidential information about clients.
Many experts believe that this law significantly increased the shadow business. It worsened the transparency of the Swedish policy regarding online casinos.
The government has extended the restrictions twice. They referred to protecting the population from unnecessary spending during the pandemic. Now, society criticizes the online gambling industry restrictions while Sweden abolished most of the strict coronavirus rules on September 29.
Nevertheless, after the cancellation of requirements, Swedish operators are preparing for global changes. They should be the result of the adoption of the new initiative "Gambling Market Research."
The request submitted to the Swedish Parliament suggests that the state authorities introduce control over the moderation of gambling advertising and approve licensing for games and slots developers.
The regulator plans to initiate amendments to the country's gambling law, which will oblige financial institutions and payment systems to provide complete information about customers as part of blocking illegal transactions.
In addition, within the new regulatory framework, the Swedish regulator is negotiating with the Dutch Gambling Commission and the Curacao Council.
Of course, the Swedish Government has introduced restrictive measures with the best intentions to protect its citizens. Nevertheless, as the practice has shown, such measures have led to an increasing number of players turning to unlicensed operators.
According to statistics, more than 30% of Google casino requests from users in Sweden aim to find unlicensed online casinos. The government certainly needs to reconsider the restrictions seriously. Stricter measures will only serve to strengthen the shadow market.
In addition, the consequences will be for a long time, as many players will not return to licensed sites after the cancellation of the measures.
The government is not ready for new reforms. They are developing a new policy regarding online casinos. Therefore, players have no choice but to search for reliable and trustworthy casinos.
The lack of a license may be a consequence of the casino's desire to comply with general European standards and not limit its customers as strictly as possible.
How to choose an online casino worthy of trust? You can visit casinoutanspelpaus.io to compare trustworthy online casinos without a Swedish license.
All casinos presented on the website have licenses from other European countries. They perform deposit and withdrawal operations through conventional bank transfers, various electronic payment systems, and cryptocurrency.