Betsson has received online gaming licenses in Sweden. The licenses will be effective from 1 January 2019, and cover brands Betsson, NordicBet and SverigeAutomaten.
The Swedish licenses mean that the firm is now licensed and pays local gambling taxes in twelve jurisdictions, with the Swedish duty rate being 18%.
Though the Betsson Group has been operating in the Swedish market since 1963, and has been one of the driving forces in its development, the Swedish market is being re-regulated with a more effective and sustainable framework, from 1 January next year.
CEO of Betsson AB, Pontus Lindwall, commented:
“It is good that Sweden opens up the gaming market for free competition in a controlled environment. We look forward to operate on our Swedish home market as a recognised operator on equal terms,”
A recent report from the Swedish Gambling Authority found that unlicensed operators have driven growth in 2018, highlighting the ineffectiveness of the current regulation – something that authorities, and those firms like Betsson who have acquired new licenses, hope the new regulatory system will change (see UNLICENSED OPERATORS DRIVE GAMBLING GROWTH IN SWEDEN).
(Photo: CEO of Betsson AB, Pontus Lindwall © BetssonAB)