Sweden Reports Lowest Online Gambling Revenue In Second Quarter

Sweden reports lowest online gambling revenue in second quarter. The online gambling revenue in Sweden hit rock bottom in the second quarter, as the sector struggled under the impact of Covid-19 outbreak. The gross gambling revenue (GGR) tumbled to SEK5.94bn (€572.4m), which is the lowest Sweden has ever witnessed since regulated online gaming was introduced in January 2019.

The online gambling revenue actually increased 3.6 per cent year-on-year to SEK3.61bn (€348m). However, it still is a fall from the previous two quarters.

Svenska Spel, which has a monopoly in lottery and gaming machines, saw its revenue decrease by 8.5% year-on-year to SEK1.29bn. The firm’s revenue from its lottery brand Tur increased by 3.3% to reach  SEK1.18bn. Non-profit lotteries saw an increase of 2.7% year-on-year to reach SEK950m.

The fall in online gambling revenue does not go well with the Swedish government’s fears of an increase in online casino gambling during the pandemic. The Swedish government had introduced a SEK5,000 (€476) weekly deposit cap for online casino gaming.

[image: Peter Ivey-Hansen]

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