| Updated: October 2, 2024Sweden is part of the Nordic Region. The country has a competitive economy and ranks highly for quality of life. Many Swedes have a passion for sports. The most popular sports in Sweden are ice hockey and football. Considering their massive fan base, it comes as no surprise that these two sports attract huge betting action. The Swedish Gambling Authority, Spelinspektionen, revealed that the national gross gaming revenue (GGR) for Q2 2022 totaled SEK7.75 billion.
For decades, the Swedish gambling industry was subject to a state-owned monopoly. But in 2018, Sweden finally put an end to its monopolistic regime, allowing international operators to apply for licenses. After the country opened its gambling market to foreign operators, it witnessed a significant decrease in illegal gambling activities and an increase in GGR.
Best Sports Betting Sites in Sweden
Online sports betting has been legal since 2002. However, only the state-owned company Svenska Spel was allowed to provide gambling services. The situation dramatically changed in 2018 when the country officially announced that operators based in foreign countries can apply for licenses from the Swedish Gambling Authority and legally accept bets from Swedish punters. Now, Swedes can pick from a decent range of licensed and trustworthy sports betting sites.
Best Sports Betting Bonuses in Sweden
Bonuses provide punters with the opportunity to boost their bankrolls and place more bets on their favorite sports. Unfortunately, Sweden has implemented strict regulations in an attempt to protect punters from gambling problems. According to Chapter 14, Section 9 of the Swedish Gambling Act, sportsbooks with a Swedish license are allowed to offer only welcome bonuses.
Match BonusMatch Bonus
Operators geared toward the Swedish market give their newcomers a head start by providing them with the opportunity to benefit from a welcome bonus. When you fund your account for the first time, the bookie will match your deposit by a certain percentage up to a given amount. For instance, a sportsbook offers a welcome bonus of 100% up to SEK100. If you deposit SEK30, you will receive SEK30 in bonus funds.
To be eligible for a sign-up bonus, you must make a qualifying deposit. Punters have to satisfy a wagering requirement before being able to withdraw their profits. Moreover, sports fans who redeem a match deposit bonus have to comply with the minimum odds requirements and the qualifying bet types. Keep in mind that sports betting bonuses usually have an expiry date.
Betting Regulation in Sweden
Sports betting is a popular pastime among Swedes, and outlawing it would fuel the illegal gambling market. In 1934, the Nordic country decided to adopt a monopolistic regime. Sweden granted exclusive rights to the state-owned company Svenska Spel, formerly known as Tipstjänst, to offer lottery games and gaming machines to people from Sweden.
In 1994, the Lotteries Act came into force to define lotteries as the drawing of a ticket regardless of whether a prize is paid or not. Under the act, only non-profit organizations, horse racing associations, and the Swedish Lotto are allowed to run lotteries. Besides, the act stipulates that the gambling authority is the only entity that can issue licenses to lotteries.
In 1999, Sweden enacted the Casino Act to allow the establishment of up to 6 land-based casinos. It also created regulations regarding the minimum gambling age and set rules for keeping records. In 2002, Swedish lawmakers introduced amendments to the Lottery Act, allowing Svenska Spel to run online casino games, lotteries, and betting.
In 2005, the British best-known sportsbook, Ladbrokes, attempted to legally challenge the Swedish gambling monopoly. Three years later, Betsson also challenged Sweden’s monopolistic regime and even opened a betting shop in Stockholm. But the country did not show any signs of being willing to give up on this regime.
EU Scolds Sweden Over Gambling Monopoly Important Restrictions in PlaceEU Scolds Sweden Over Gambling Monopoly
Sweden has been a member of the European Union since 1995. As you know, the member states are required to comply with the directives established by the EU. But Sweden’s restrictive regulations were found to violate the EU’s free trade laws. So, Sweden had to liberalize its gambling market and adapt gambling regulations to the EU laws.
In 2013, the EU explained that Sweden is not allowed to restrict punters’ access to international online sportsbooks and casinos. As a result, more and more bettors have started using the services of internationally-licensed sportsbooks because they offer generous promotions, competitive odds, and a plethora of betting markets.
But the Nordic country failed to amend its gambling regulations on online betting and poker, and in 2014, the European Commission started legal action against Sweden. In 2018, the country announced that it will put an end to the monopoly over gambling and allow foreign operators to obtain a Swedish license. In 2019, Sweden enacted new laws that finally opened the gambling market to international operators. The Swedish Gambling Authority (Spelinspektionen) is responsible for overseeing and regulating the market.
Important Restrictions in Place
When Sweden liberalized its gambling market, it did not forget to set rules to protect at-risk bettors. Individuals are allowed to participate in online gambling and sports betting activities if they are at least 18 years old. However, Swedes must be at least 20 years old to enter a brick-and-mortar casino.
Moreover, sportsbooks licensed in Sweden are allowed to offer welcome bonuses only. Sports betting and casino promotions were limited because they are said to encourage punters to wager more money and make them prone to gambling problems.
However, industry experts claim that too strict regulations usually make lucrative markets less appealing. And since promotions are one of the key factors punters take into account when selecting a given sportsbook, fears arise that many Swedes may prefer to use the services of offshore sportsbooks.
To protect people from spending all their money on gambling, the Swedish government decided to introduce restrictions on the amount punters can deposit. The measure was implemented in July 2020 to prevent the surge of gambling problems during the Covid-19 lockdown.
Initially, the weekly deposit limit was SEK5,000, but Sweden’s Health Minister Ardalan Shekarabi proposed lowering the deposit limit to SEK4,000. Gustaf Hoffstedt, the secretary-general of the Swedish Trade Association for Online Gambling (BOS), strongly opposed the proposal, explaining that this would only make punters join several sportsbooks at the same time. Currently, Swedish punters can deposit no more than SEK5,000 on a weekly basis.
Spelpaus is a feature that all sportsbooks and casinos licensed in Sweden must offer. It allows punters and players to block themselves from gambling online.