Connect with us
SOFTSWISS

Latest News

Sweden’s Online Gambling Market: A Rapidly Growing Sector

Published

on

Reading Time: 3 minutes

Swedens Online Betting Industry – A Thriving Sector

The online betting scene in Sweden is experiencing growth, with projections indicating a revenue of €2 billion by 2027. This forecast highlights how evolving consumer preferences and market dynamics drive the industry’s expansion, thereby underscoring its impact on the country’s economy.

Factors Driving Industry Expansion

One driver behind this growth is the increasing interest in cryptocurrencies. Despite scepticism from Sweden’s Riksbank, currencies like Bitcoin are gaining popularity as preferred payment methods on Swedish online betting sites. 

According to the Twin.com Sweden platform, this trend reflects the adoption of cryptocurrencies in wagering, offering users improved privacy, security, and transaction efficiency.

Riksbanks Stance on Cryptocurrencies

Governor Erik Thedeen of Riksbank has raised concerns about integrating Bitcoin and other digital currencies into the economy. He highlights the characteristics of cryptocurrencies and the potential risks associated with their values. This cautious regulatory approach aligns with Sweden’s commitment to ensuring stability and safeguarding consumer interests.

The Online Gambling Landscape in Sweden

The appeal of gambling in Sweden has surged due to the ease and convenience provided by online platforms. With the increase in smartphone usage and better internet connections, it has become more accessible for people to participate in casino games and betting options from their homes or while on the move.

Noteworthy Developments in the Industry

Innovations are bringing about changes in the gambling sector and changing consumer preferences. Several significant trends are emerging that influence the industry’s future and contribute to its expansion.

  • Mobile gaming. The increasing popularity of smartphones has greatly increased gaming activities. More individuals are choosing to gamble on their devices thanks to the accessibility of mobile gaming platforms. 
  • Live dealer games. There is a growing demand for dealer games that provide an engaging and interactive experience. These games recreate the ambiance of a casino, attracting players to online gambling platforms and enhancing user involvement.
  • Cryptocurrency usage. Many people are now using cryptocurrencies, like Bitcoin for making deposits and withdrawals. The benefits of using currencies, such as  transactions, lower fees, and increased privacy, are attractive to numerous users despite facing regulatory hurdles.
  • Advanced security measures. As gambling gains popularity, ensuring security has become a concern. Operators are implementing security measures to safeguard users’ information and transactions, creating a gambling environment.
  • Promoting responsible gambling. The Swedish Gambling Authority (Spelinspektionen) continues its efforts to encourage gambling practices. Operators are urged to implement measures that prevent gambling and support individuals fostering a healthier gambling community.

 

These trends suggest that the market is rapidly evolving due to advancements and changing consumer preferences. The Swedish online gambling industry is well-positioned for growth and innovation because it stays abreast of these developments.

Regulation and Protecting Consumers

The Swedish Gambling Authority (Spelinspektionen) oversees the regulated market to ensure consumer protection and promote gambling practices. This regulatory framework plays a role in maintaining market stability and building consumer trust, which is critical for sector growth.

Economic Future Projections

Experts think that the Swedish online gambling market will generate €1.69 billion in revenue by 2024, with a growth rate of 6.20% per year (according to the data from Statista). Experts project the market volume to surpass €2.15 billion by 2028, primarily due to the growing number of users and their increasing average revenue per user (ARPU).

The anticipated revenue growth highlights the impact of the gambling industry on Sweden’s economy. With users participating in gambling activities, the sector is poised to contribute more revenue to the country.

Despite these projections, challenges lie ahead for the online gambling industry. The bank’s regulatory barriers and concerns about cryptocurrencies pose obstacles that present opportunities for innovation and adaptation.

As cryptocurrencies gain popularity in gambling, regulators may develop frameworks that balance innovation with consumer protection. This approach could boost growth in the sector while ensuring stability.

Conclusion

The Swedish online gambling sector is expanding, with revenue forecasts indicating growth in the years ahead. Despite bank hurdles and scepticism towards cryptocurrencies, this industry in Sweden continues to thrive.

The online gambling market provides customers various gaming options and chances to position themselves well and keep growing. To thrive amidst changing consumer tastes and regulatory challenges, stakeholders in the gambling industry should embrace new ideas while prioritizing consumer safety. This approach can help sustain growth and significantly contribute to the country’s economy. 

Latest News

Win tickets to the BLAST Premier Fall Final: GG.BET is running a MEGA BLAST Competition for fans of СS2

Published

on

Reading Time: 2 minutes

 

From 26 July, all GG.BET users can get involved in the new MEGA BLAST Competition with a €10,000 prize fund. The winner will receive two tickets to the BLAST Premier Fall Final CS2 tournament, taking place from 27-29 September in Copenhagen. To enter, you need to place bets on Counter-Strike 2 matches.

BLAST Premier Fall is a major series of Counter-Strike 2 tournaments which draws in millions of viewers from all over the world every year. The series consists of three stages: Groups, Showdown, and Finals. The Groups stage sees 16 Tier-1 teams duke it out. Only 6 of these can go on to compete in the final, while the rest will battle it out in the Fall Showdown for two additional spots in the final. BLAST Premier Fall Finals will be the concluding stage of the Fall series, and fans can look forward to electrifying action, heart-stopping twists and turns, and an epic $425,000 prize fund.

From 26 July to 4 August, as the Groups stage rages on, GG.BET will be holding its MEGA BLAST Competition. The winner will get their hands on two tickets to attend every day of the BLAST Premier Fall Finals. As well as these tickets, the bookmaker is also giving away a whopping €10,000 prize fund to the top 40 participants in the MEGA BLAST Competition.

How to take part in the MEGA BLAST Competition:

  1. Register an account with GG.BET or log in to an existing account.
  2. Go to the tournament page and press “Participate”.
  3. Place bets on Counter-Strike 2 matches. Every bet you place will earn you a certain number of points, based on the odds.
  4. Rack up points, keep an eye on the leaderboard, and wait for your winnings to roll in.

Bet on your favorites and get ready for some unforgettable fun! Head over to GG.BET right now so you don’t miss your chance to enjoy a festival of Counter-Strike action in Copenhagen.

 

Continue Reading

Latest News

MANCHESTER CITY TO MARK GLOBAL PARTNERSHIP WITH SUPER GROUP-OWNED BETWAY AT THE NEW YORK STOCK EXCHANGE

Published

on

Reading Time: 2 minutes

 

Manchester City has today announced a new multi-year partnership with leading global online betting and gaming brand, Betway.

As part of the club’s pre-season tour of the United States, and to mark this significant deal, leading figures from Manchester City and Super Group will be on-site for the iconic NYSE bell-ringing ceremony later today. Ferran Soriano, CEO of City Football Group, along with Neal Menashe, Super Group CEO, will ring The Opening Bell at 9:30am EDT.

The agreement will see Betway become the club’s Official Global Betting Partner from the start of the 2024/25 season, as Manchester City joins the brand’s extensive sports sponsorship portfolio which includes teams from across the Premier League, La Liga, NBA and more.

Ferran Soriano, City Football Group CEO, said: “We are pleased to announce Betway as our Official Global Betting Partner today. As a globally recognised brand, Betway has a strong pedigree and history of working with high-profile brands within the sports space and we’re excited to work together throughout the partnership.”

Super Group CEO, Neal Menashe, commented: “We are absolutely delighted to become Manchester City’s Official Global Betting Partner. This agreement cements our place in the top tier of Premier League partners, ensuring that our Betway brand reaches fans in all corners of the globe.”

Throughout the duration of the partnership, Manchester City and Betway will collaborate on a number of activations and exclusive content opportunities, in addition to the brand featuring across digital and in-stadia assets.

Manchester City and Betway will also work together to provide all players, coaches, management and staff in-depth, industry leading training on all relevant codes of conduct relating to betting integrity and responsible gambling. This is in addition to the work Manchester City already does to support players and staff in this area.

The Opening Bell ceremony can be viewed live.

 

Continue Reading

Compliance Updates

Acquiring a Curacao Online Gaming License in 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed

Published

on

Reading Time: 2 minutes

The “Acquiring a Curacao Online Gaming License, 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed” report has been added to ResearchAndMarkets.com’s offering.

This report includes valuable insights into the financial and procedural aspects, including detailed information on costs and timelines associated with acquiring a Curacao license.

In 2023, Curacao introduced the “Landsverordening op de kansspelen” (Ordinance on Games of Chance) to modernize and regulate gambling legislation. Since March 2020, the Gambling Control Board (GCB) has been authorized to regulate offshore gambling games and oversee the issuance of Curacao licenses. As of 2023, there are 16 companies providing legal services for registration and licensing in the territory of Curacao. The license fee, as per GCB regulations, is 36,000 ANG or 19,800 USD, payable upon license issuance.

Research Timeline and Data Relevance

The research was conducted in two stages. The first stage, studying the regulator and Open Data Search, took place in December 2023. The second stage, writing the report and partially updating the data from the first stage, took place from the end of April to the end of May 2024.

Goals and Objectives

  • Describe the information about the Curacao license and the issuing regulator.
  • Describe the requirements and conditions for obtaining a Curacao license.
  • Describe the costs and timelines for obtaining a Curacao license.
  • Briefly study the market, find and suggest the following lists:
    • Legal companies offering services for company registration and obtaining a Curacao license;
    • Communication agents and integrators working with the Curacao license;
    • Suppliers and vendors working with the Curacao license;
    • Payment systems working with the Curacao license.

Key Topics Covered:

1. Goals and Objectives

2. Research Timeline and Data Relevance

  • Document Markup
  • Raw and Combined Data
  • Terms & Glossary

3. General Information

  • The Regulator
    • Registration of Operators With Sublicense
    • Application for an Online Gaming License

4. Requirements and Conditions for Obtaining a License

License Conditions

  • General Prohibitions
  • Safe and Secure Environment
  • Equipment and Application Software
  • Player Registration
  • Payment Transactions
  • Games
  • Terms of Use
  • Resolution of Complaints
  • Administrative Responsibilities
  • Publicly Available Information
  • Reports
  • Policies and Procedures
  • Suspension and Revocation of License
  • Additional Conditions
  • Supervision

Recommendations or Minimum Requirements for the Business Plan

5. The Cost of the License

6. Decision Term and the Validity of the License

7. Application Method and Forms

8. Contact Information

9. Companies for Registration and Licensing

10. Integration Companies

11. Suppliers and Vendors

12. Payment Systems

13. META

14. Appendix: Terms & Glossary

For more information about this report visit researchandmarkets.com/r/izeo6g

 

Continue Reading
Advertisement
Alpha Affiliates
Advertisement

EveryMatrix

Advertisement

Launch your iGaming business swiftly and effortlessly with our comprehensive turnkey solutions

Advertisement
Stake.com
Advertisement
xbit4.com

Trending (Top 7)

Get it on Google Play

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.