Swedish gambling licenses are incredibly strict, however, that’s for a very good reasons, and the government has been careful to make sure that all applicants and licensees adhere to the rules.
One of the rules requires all gaming firms to be registered with the country’s government for the purposes of providing online gambling must pay tax on their income in Sweden. But how has this been significant to the country’s economy since then?
This tax income is vital in ensuring a steady revenue stream for Sweden, as in some US states they use tax revenue to fill the treasury, or to create monies for social projects. Over the course of last year and up until now, gaming firms had paid up a total of SEK 923 million, a great figure given the amount of time the law has been observed.
However, actual figures may be even greater than this, with numbers as high as SEK 1.8B being commended by professionals in the regulatory body. This is twice as much as the initial estimates, and we can only assume that this will increase further as days go on, through a combined income of taxes, renewal fees, application fees, and other administration funds to be paid to the Swedish government.
According to Norskespilleautomater, Swedish regulations have had a major impact on licensees in the state. Though online gambling usage has increased this year, operators are, however, reporting a slump in income from players. This can be attributed to the new deposit limit laws and probably on bonus caps not enticing punters that much.
However, as amendments to regulations are introduced slowly across Europe (particularly Germany’s forthcoming gambling laws), Portugal’s laws against bonuses, and some quickly-implemented anti-gambling laws enforced over the course of COVID-19 pandemic in the continent, it can only be hoped that strict-yet-flexible Swedish approach helps more firms function in the legal market. This makes gambling safer, more fun, and ultimately more profitable for the country as days go on.