“Sweden has a promising gaming market, which lures many overseas casino companies to offer their services to the Swedish market despite not having been regulated by the Sweden State.”
Playing casino games is one of the most loved pastimes by millions of people all around the world– including the Swedes. In fact, the Swedish gaming market has become the fourth largest in all of Europe. With the booming popularity of casino gaming in the early 18th century in many parts of the world, it was in the year 1994 that land-based casino gaming had been legalized in Sweden. Although it was already legal at that time, online gambling has only been introduced lawfully to the Swedes in 2002.
With laws that are passed to regulate gambling activities in Sweden, only the casino companies that have undergone the legalization and licensing of the Swedish State are allowed to operate in the country. Since casino gambling is regulated by laws, players must abide by the conditions set by the state. Casino gaming in the land casinos require players that are in the legal age of 20 and up, while online casino players must be 18+ to be considered legal enough to play in the casino.
Although Sweden possesses a large gaming market, the promotion of casino gaming in this country is lacking and has resulted in the monopoly of online casinos. The best example for this is the Svenska Spel which is a state-owned company that operates in the regulated gambling market in Sweden. Due to this limited options, Swedish players look for a range of operators from overseas who are happy to accept players from Sweden. These operators even offer a site translated in the Swedish language, and currency in the Swedish Krona so players can use the site well. Due to its promising market, a lot of overseas casino companies go after players from Sweden even if they are not regulated and licensed by the Sweden State.
Gambling Laws in Sweden
Since the legalization of gambling in Sweden in 1997, only Svenska Spel has been the only gambling operator that is licensed and regulated by the Sweden State. In other words, this company is the only legal gambling operator in Sweden. Having been monopolized by Sweden’s gambling market, Svenska Spel manages all forms of gambling in the country. From the land casinos to sports betting platforms, lotteries and other gambling-related activities, Svenska Spel has the power to regulate and give license to other gambling operators who wish to operate legally in Sweden.
Having a huge market but is controlled by a monopoly, the European Union urged the country continuously, since 2007, to allow its market to have a competition to maximize its potential as a gaming market to the world. However, the effort ended on an unsatisfactory note. Monopoly has been leaving this market on a bad note. In 2014, EU claimed that Sweden had been unfair with its services within the EU borders and prohibits overseas-operated casinos and betting platforms to operate in Sweden regardless of offense or reputation. This unjust prohibition of the state was referred to the Court of Justice for failing to implement European Union’s policy on online gaming that states that states like Sweden can only deny cross-border gambling providers if the operators support unhealthy gambling. In 2018, Svenska Spel was blamed and threatened to be sued by Swedish gaming operators for being a threat to the future framework of Sweden’s gaming market due to its current operation as a monopoly.
Whether you owe a tax on your winnings from the casino depends on the tax laws of both Sweden and the EU. If you played and won at an EU-based online casino, your winnings will no be taxed. On the other hand, if you win something from an overseas-based (not part of the EU) online casino, taxes will be issued that is 30% of your winnings. In addition, for those who have declared gambling as a source of income such as the professional poker players, a tax of as high as 50% is issued.
Swedish casino players are offered with a wide range of payment options to be used in making deposits and withdrawal of winnings from the online casinos. There are available credit and debit cards and e-wallet options to choose from depending on its availability and access to the players. Players may use Paysafecard, iDEBIT, Neteller, PayPal and Skrill as some of the available payment options. Swedish casino players can process their financial obligations in SEK, NOK or EUR as its main acceptable currencies.
Popular Casino Gambling Games in Sweden
Despite Sweden being a legal country to do online gambling, its residents are only allowed to use the Svenska Spel betting sites. This company operates four casinos in Sweden namely, Stockholm, Malmo, Sundsvall, and Gothernburg. Although this is the case, there are still some overseas-licensed online casinos that accept players from Sweden and offers SEK in transactions.
Just like any other online casinos anywhere in the world, players from Sweden can enjoy the typical online casino set up, table games such as Blackjacks, Roulette and Baccarat, video slots, progressive jackpots, scratch cards and other forms of gambling such as sports betting. Players may expect a majority of games offered are from NetEnt which is actually a leading Swedish developer.
Finding the Best Online Casino in Sweden
Finding a good Sweden-based casino is easy since players only get to have a short list of options to choose from since the gaming market is monopolized. However, there are overseas-licensed online casinos that cater to players from Sweden. Here are some of the factors that you should check when choosing the online casino to trust:
Theme and Graphics
This may be the least of your concern, however, the theme and the quality of graphics can influence a player’s game experience in the casino in the long run.
Promotion and Bonus
Choose an online casino that offers a promising welcome offer from your first few deposits or even by just signing up.
Game Selection and Software
Choose an online casino that offers a great selection of games from reputable game software providers.
License and Security
Check the online casino if it is licensed under the Sweden State or if it is licensed under a legit gambling authority.
Choose an online casino that offers a wide selection of payment options. Check if the casino accepts EU or SEK currencies.
Search for reviews about various online casinos that cater to the Sweden market. Know the pros and cons of the online casinos and be informed of other player’s experience for you to know if it is worth the sign-up.