In 2016, the Swedish Gambling Authority reported that the gambling industry in Sweden is worth €966 million. The authority is taking multiple steps to enhance its regulation of this industry including online gaming. Here are 10 facts that you should know about online gaming in Sweden.
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Table of Contents
State Monopoly over Online Gambling
The Swedish State controls gambling activities in the country through Svenska Spel, which is a state-run corporation. This corporation sells gambling tickets to Swedes through various means including agents, restaurants, bingo halls, and pubs. Svenska Spel operates online gaming sites as well.
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Swedes Cannot Run Online Casinos
Sweden guards the monopoly it has over the gambling industry jealousy because this industry earns a lot of revenue for its government. Opening it to private players would reduce this revenue. Therefore, it is illegal for Swedish companies to offer online casino games to Swedish residents.
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Foreign Online Gaming Sites are Legal
Surprisingly, foreign gaming sites are lawful in Sweden even though local private ones are not. However, limits to this legal provision exist. For example, the foreign gaming site should be from a country where online gambling is legal. The website should have a license in that country as well.
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No Action against Online Gamblers
Some people find it hard to believe that foreign gaming sites are legal in Sweden especially the ones that originate from tax havens. However, the evidence speaks for itself. The Swedish government is yet to take any legal action against online gamblers using these sites or the operators who run them.
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Swedes Prefer Unlicensed Players
Swedes who gamble online focus on player pools and betting odds when selecting an internet gaming website. Consequently, most of them end up on unlicensed sites. That happens because unlicensed websites offer larger pools, better odds, and a greater number of online games.
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Taxes Levied Depend On Location
Taxation is a critical factor in online gaming, and Sweden takes it seriously. For example, did you know that the taxes you pay for your internet gambling activities depend on the website’s origin? Avoid taxes on these activities by opting for a website that has a European gaming license.
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Free Gaming Markets Are Unstoppable
The EU is pushing for a liberalized gambling market throughout Europe. Swedish nationals are also pressurizing their government to do the same. More importantly, technological advances mean that free online gaming is inevitable because people have access to it anywhere and at any time.
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Sweden Is Moving Towards Liberalization
In September 2015, the Swedish government announced that it would launch studies into an open market policy for online casino gambling. In other words, the government was examining the merits of issuing internet-gambling licenses to private companies.
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A Proposed Bill for Liberalization Is Ready
The people tasked with investigating the viability of a private online gambling industry submitted their report on March 13, 2017. The Swedish government prepared a liberalization bill based on this report. Many financial analysts argue that this bill will come into effect in January 2019.
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Swedish Online Casinos Are Unparalleled
Liberalization of this market means that Sweden will extend its economic efficiencies to this industry. Be part of this budding market. Compare internet casinos in Sweden and then join the best Swedish online casino. Click on this link for the best comparisons allacasinononline.co.
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