Sweden takes harder look at gambling regulator

Sweden takes harder look at gambling regulator

Sweden takes harder look at gambling regulator
Sweden is taking a harder look at its national gambling regulator, Spelinspektionen, which will undergo a review by the country’s National Audit Office. This coincides with significant changes in the industry, including the reregulation of supplier licenses over the summer and the overall transition towards a market that deploys stronger consumer protection measures. Spelinspektionen has been granted stronger enforcement powers as part of the new regime, which will see it go after unlicensed operators and not have to be caught in red tape before it can take meaningful measures. Reported on both the National Audit Office and the regulator’s websites, the review will take a closer look at the regulator’s effectiveness. Among the objectives of the review is to ensure that the existing gambling laws in the country provide sufficient revenue streams for non-profit activities and that any negative consequences from gambling are reduced. The review also looks into the level of security of individual gambling games and contests and insists that a high level of scrutiny must be exercised so that the industry does not fall prey to criminal activity. Spelinspektionen is crucial in order for Sweden to achieve these stated goals, and that is precisely what the National Audit Office intends to seek out as part of the review. Overall, the regulator wants to ensure that the gambling watchdog is regulating the industry effectively. Presently, no further details about the upcoming review have been posted, but information will be published as soon as it becomes available. The review also comes at a time when the country is attempting to strengthen its channelization into the legal and regulated gambling market. A recent study by the Swedish Trade Association for Online Gambling indicated that only 77% of all active gamblers in the market participate in regulated and legal gambling sites. This is under the industry’s stated goal to boost channelization into the legal and regulated gambling market to 90%. It’s likely that Spelinspektionen will be examined in areas that concern consumer safety and the efficient tackling of illegal operators that may still be targeting players in the country. Image credit: Unsplash.com

23 AUG 2023

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