Latest News
More Details Surface about Sweden’s Online Gambling Regulation Push
A few more details about the nearing regulation of Sweden’s online gambling market emerged late last week. In a post on his LinkedIn page, Mark Knighton, Founder and CEO of Gothenburg-based business consultant Obsidian Consultancy, discussed several important provisions that were understood to have been included in Sweden’s draft gambling legislation.
The provisions covered several important areas, including licensing, taxation, and protection of gambling customers, once the Scandinavian country’s new gambling laws come into effect.
Under the new set of regulations, due to take effect on January 1, 2019, interested international operators will be able to obtain licenses from Lotteriinspektionen, the Swedish Gambling Authority, and to operate in a regulated environment. Licenses will be valid for a period of five years.
At present, the state-run operator Svenska Spel is the only gambling company authorized to operate gambling services in the country, including online gaming and betting. However, foreign operators have been targeting local players for years. In fact, Sweden’s unregulated iGaming market accounted for a quarter of the country’s whole gambling sector during the first nine months of 2017.
Unlicensed operators generated revenue of SEK4.045 billion during the period in question, while Sweden’s whole gambling market was worth SEK16.557 billion.
Responsible Gambling, Taxation, and Other Important Provisions
The new law will put certain restrictions on the way bonuses are distributed to gambling Swedes. Under the draft legislation, there will only be one-off bonuses for players upon opening an account with a given licensed operator. Previous versions of the legislative piece included proposals that bonuses were kept but under certain circumstances.
Under the proposed gambling regulations, Lotteriinspektionen will be authorized to request that local Internet service providers display a message warning Swedish gambling customers that they have accessed unregulated gambling websites.
Payment service providers may be ordered to block transactions between Swedish residents and unlicensed operators. The measure will come as another one aimed to reduce black market operations within the country’s borders.
Sweden’s draft legislation on gambling also includes responsible gambling provisions. Under one such provision, all players will be obligated to set deposit limits. In addition, each licensed operator will have to comply with a set of rules to ensure that its services are provided in a socially responsible environment.
A review into the state of Sweden’s gambling industry was published last spring. It recommended that the country opened its market for international operators through a licensing system, and that such operators were taxed at 18% on full-year gross gambling revenue. It was understood that the 18% tax rate was included in the draft legislation.
The Swedish government submitted the legislative piece to the European Commission late last year. The legislation thus entered a three-month period of standstill, during which EU authorities would review it. This means that it cannot be adopted in its home country within said three months. The formal standstill period ends on March 20, 2018.
Swedish politicians have recently said that the local gambling regulator will begin accepting license applications from interested operators in mid-2018. As mentioned above, the new regulatory framework is expected to take effect on January 1, 2019.
Latest News
Week 46/2024 slot games releases
Here are this weeks latest slots releases compiled by European Gaming
Spinomenal has welcomed another title into its Wildlife Series, Majestic Bison. Set in the Wild West, Majestic Bison surrounds players in a landscape populated with wild wolves, elegant eagles, fearsome snakes and formidable goats. A stripped back soundtrack captures the essence of the Wild West, with banjos and harmonicas immersing players in the action as they hunt for gold.
PG Soft, a world-class digital mobile games company, is celebrating the magic of the Rio de Janeiro Carnival with the release of its new slot, Rio Fantasia. A young dancer named Isabella is the star of the show as players join in the rhythm and passion of one of the world’s most spectacular parties. Rio Fantasia is a 3-reel, 3-row video slot featuring Stacked Wild symbols, multipliers, and respin until win.
Hölle Games has released Jumpin’ Jacks, a new Classic title featuring a special Duplicating Wilds mechanic. This 5×3, 15 payline slot has a theme of Halloween harvest, with scarecrows, pumpkins, corn, crows and a creepy midnight sky completing the picture. The atmosphere is there to match, with a cosy yet somewhat spooky soundtrack.
Belatra Games, the specialist online slots developer, has served up Cafe Pin-Up, a slot that whisks players away to a vibrant 1950s diner, where retro glamour meets thrilling gameplay. Players take a seat inside a charming cafe, where pin-up girls are on hand to deliver delicious dishes in a raucous atmosphere created by a jukebox playing toe-tapping tunes. The game is presented in a 5×4 grid with 20 paylines with the Pin-Up Girl Wild symbol playing the key role.
New from Peter & Sons comes Muddy Waters, a game that will send your Geiger counter up to 11. This high-volatility and highly radioactive slot comes packed with symbol multipliers, power-ups and a unique fishing mechanic. Muddy Waters riffs on the popular fishing-slot genre, but since this is the weird and wonderful world of Peter & Sons, it gets flipped on its head, because this game is about reeling in radioactive fish.
Relax Gaming, the iGaming aggregator and provider of unique content, is getting players into the festive spirit with its latest release, Money Sleigh, a Christmas-themed slot guaranteed to deliver stocking-filled fun and the chance to unwrap big wins. Santa and his team of loyal helpers are ready to guide players through this exciting holiday adventure, with the potential to win up to 10,000x their stake.
Latest News
AGREEMENT BETWEEN ZITRO AND GRUPO OSGA TO PROMOTE THE LABOT INTEGRATION OF PEOPLE WITH DISABILITIES
Zitro, a leading company in the gaming industry, has signed a collaboration agreement with Grupo OSGA, a business group committed to promoting the employment of people with disabilities. Grupo OSGA offers job opportunities to people with disabilities and supports their professional development in inclusive and accessible environments.
Through this alliance, Grupo OSGA will provide Zitro with a parcel and documentation service between its offices, optimizing Zitro’s operational efficiency and strengthening its social commitment to creating a more inclusive work environment.
At Zitro, we firmly believe in the power of diversity as a driver of growth and development. This collaboration with Grupo OSGA not only enriches our company but also reinforces our commitment to contributing to a fairer and more inclusive society,” said Albert Zorrilla, Managing Director of Zitro for Spain.
“The collaboration with a prestigious international company like Zitro not only constitutes recognition of the work that Grupo OSGA has been carrying out but also contributes to the generation of real opportunities for people with disabilities to achieve effective and stable integration in the labor market,” said Oscar Galilea, President of Grupo Osga.
Balkans
EGT Digital’s iGaming platform X-Nave and successful titles to deliver high-quality experience to BetHub’s customers
BetHub and EGT Digital have started their successful partnership, as a result of which the leading Bulgarian operator is now using the iGaming platform X-Nave. Its 4 main modules: CRM Engine, Sport product, Gaming Aggregator and Payment Gateway, enable the betting site to effectively manage all online gaming business verticals and further improve its performance.
CRM Engine provides a wide range of player management tools and bonus features, allowing the operator to create more personalized offerings for its customers, based on their preferences and behavior.
Through X-Nave’s Sport product BetHub will enrich even more the sport content it offers.
The Payment Gateway gives access to numerous payment methods and thanks to the Gaming Aggregator EGT Digital’s slot games are already at the disposal of the website’s visitors. The top-performing titles from Bell Link, Clover Chance, High Cash, Single Progressive Jackpot, as well as the multiplayer game xRide quickly gained popularity among BetHub’s customers.
“We are very glad with our collaboration with EGT Digital so far,” commented Kiril Naldzhiev, CEO at BetHub. “The platform has made the management of our business much easier, and the company’s gaming content has shown impressive results that have not only met but exceeded our expectations.”
Tsvetomira Drumeva, Head of Sales at EGT Digital, also gave a positive evaluation to the cooperation. She said: “Partnering with a prominent operator like BetHub is very valuable for us, as it gives us the opportunity to demonstrate the enormous potential of our developments and consolidate our status as a leader in the local market. I am confident that this is the beginning of a very successful collaboration that will bring a lot of positives to both companies and the players themselves.”
-
Industry News7 days ago
iGB Affiliate attracts registrations from 55 nations in just six weeks
-
Industry News7 days ago
Endorphina Affiliate Hub: Huge Benefits for Affiliates
-
Cryptocurrency4 days ago
Kyrrex to host online panel discussion on MiCA and the future of crypto in Europe
-
Australia4 days ago
Light & Wonder Signs Multi-year Systems Deal with SkyCity Entertainment
-
Asia2 days ago
Hong Kong Construction Titan Turned Macau Casino Boss Lui Che-Woo Dies Aged 95
-
Asia4 days ago
Skillhub Online Games Federation Launches SOG Grandmasters Series, Targets Discovery of 1 Lakh Gaming Talents Nationwide
-
eSports4 days ago
Welcome to the World Esports Championship 2024!
-
Conferences in Europe4 days ago
Aviatrix approved for Sweden take-off