In a bid to enhance regulatory oversight and create a safer gambling market, the Swedish Gambling Authority, Spelinspektionen (SGA), has been granted the authority to engage in undercover gambling to supervise gambling companies on a larger scale. Starting from July 1, 2023, the SGA will be able to monitor providers anonymously, ensuring compliance with regulations. Additionally, payment service providers will have the ability to block bets and payments involving unlicensed gaming companies. The amendments to the Gaming Act also introduce measures to combat gambling-related crimes, including the obligation for gambling companies to disclose information to the police and the storage and sharing of personal data to prevent match-fixing. These changes aim to foster a healthier and safer gaming environment in Sweden.
Enhanced Monitoring and Regulation:
The SGA’s new authority to gamble under a hidden identity signifies a significant step towards more effective monitoring of gambling providers. By anonymously participating in gambling activities, the SGA can better assess the adherence of operators to regulations, including responsible gambling practices, player protection, and anti-money laundering measures. This proactive approach allows the authority to gain firsthand insights into the operations of gambling companies and identify potential issues that require corrective action.
Payment Service Providers’ Role:
Another notable amendment empowers payment service providers to block bets and payments associated with unlicensed gaming companies. This measure acts as a deterrent to unlicensed operators, limiting their ability to conduct financial transactions related to gambling activities. By restricting access to unregulated platforms, the Gaming Act aims to create a more secure gambling environment for consumers, with licensed operators subject to comprehensive regulatory oversight.
Tackling Gambling-Related Crimes:
The amended Gaming Act also addresses the need to combat gambling-related crimes, such as match-fixing. Gambling companies now have an obligation to disclose relevant information to the police during investigations into such criminal activities. This cooperation between gambling operators and law enforcement agencies enhances efforts to prevent match-fixing, safeguard the integrity of sporting events, and maintain the fairness and transparency of the gambling industry. Additionally, the new provisions allow for the storage and sharing of personal data when a sporting event has been manipulated in connection with betting, further strengthening the measures against illicit activities.
Social Responsibility Measures:
The Swedish Gambling Act already incorporates several social responsibility measures aimed at promoting responsible gambling practices and protecting vulnerable individuals. These measures include self-imposed gambling limits through the Spelpaus.se system, age restrictions preventing individuals under 18 from gambling, and a minimum age requirement of 20 for entry into Casino Cosmopol. Furthermore, the Act prohibits the offering of credit and bonus offers to ensure the responsible behavior of license holders. By embedding these measures within the regulatory framework, the Act prioritizes social and health considerations, prioritizing the well-being of players and the community.
Recent Licensing Developments:
In recent licensing developments, the SGA has granted supplier licenses to prominent gaming companies, including Relax Gaming, Yggdrasil, Wazdan, and Blueprint Gaming. These licenses signify the authority’s endorsement of these companies’ adherence to regulatory requirements and their commitment to responsible gambling practices. Additionally, B2B licenses have been issued to Booming Games and Hacksaw Games, expanding the range of licensed operators in the Swedish market. These licensing activities reflect the SGA’s ongoing efforts to maintain a well-regulated and diverse gambling market while ensuring player protection and responsible gambling.
The amendments to the Swedish Gaming Act empower the SGA to monitor gambling providers anonymously, enforce payment blocks for unlicensed operators, and combat gambling-related crimes. By adopting these measures, the aim is to create a healthier and safer gambling market in Sweden. Combined with existing social responsibility measures, the amended Act ensures responsible gambling practices, player protection, and the integrity of sporting events. Recent licensing developments further demonstrate the commitment of the SGA to work with licensed operators who prioritize regulatory compliance and responsible gambling. Through these proactive measures, Sweden endeavors to strike a balance between a thriving gambling industry and safeguarding the well-being of its citizens.