Sweden’s Gambling Authority releases license application information

Hits: 286

Sweden’s Gambling Authority has released information regarding how to apply for a license in the new re-regulated gambling market.

A new gambling law is set to come into effect in Sweden on 1 January 2019, with the opening for license applications submissions set for August 2018.

The new guidelines published on the Gambling Authority’s website provide potential applicants with information regarding the new gambling regulations and what to do when applying.

One section of particular interest is entitled “a licence will only be awarded to”, which outlines what operators must prove they are able to provide in order to be awarded a license.

The two criteria that the Swedish Gambling Authority has outlined that operators must meet include being “suitable to operate the business” and having the “knowledge, experience and organisation required to operate the business”.

Operator’s who receive a license can expect to pay a tax of 18% of their profit made from gambling in Sweden. However, gambling which is deemed as having a “public benefit” will remain untaxed.

There are also strict regulations set to be introduced surrounding player protection such as payment blocking, self exclusion and bonuses.

A new criminal offence for “cheating at gambling” will also be introduced to further deter match fixing.

Approval for the new Gambling Act was made by the Swedish Parliament on 7 June.