Swedish Gambling Market 2024

In Sweden, gambling has been legal since 1934. Online gambling became a legal option in 2002. The main piece of gambling legislation regulating this is the Gambling Act 2019. It is from this that the more liberal Swedish gambling market came to light. Before, much like other Scandinavian nations, a state-owned monopoly on gambling existed. Svenska Spel controlled all gambling activity within the country.

Between 2002 and 2018, the Swedish gambling legislation went through major changes. This did little to reduce the monopoly that Svenska Spel had on the industry. Yet with mounting pressure from the European Union, Sweden finally ceded. For the first time ever, the country started issuing licences to private companies. It didn't take long for a variety of the best online gambling sites to enter Sweden. Acquiring a licence from Spelinspektionen meant that they could provide their services there.

The question is whether these online casinos and sportsbooks have succeeded in Sweden. It's been a couple of years since licences became available to them. How does Sweden's gambling market look in 2022?

The Latest News From the Swedish Gambling Scene

In October of 2022, Spelinspektionen revealed the national gambling revenue for Q2. This totalled SEK 6.75 billion (£550 million). Those figures represent an increase of 4% year-on-year when compared to 2021. It also marks a 3% quarterly increase from Q1 of 2022. This is indicative of long-term growth, without a doubt. Yet despite this, it did also mark a downward trend in Q4 figures from 2021. That stands out as being the best performance experienced by Sweden in the past year. 

The online betting and gaming revenue held an even enough ground at SEK 4.22 billion (£344 million). Sweden also saw the re-opening of Casino Cosmopol in 2021. This returned to action in July of that year after not doing any business since March 2020. That establishment finished Q2 at SEK 145 million (£11.8 million). This stands out as a 40% increase from the first quarter of 2022. 

Svenska Spel still maintains a monopoly on certain areas of the gambling scene in Sweden. This includes all online lottery games for real money and offline ticket sales. Bingo, both online and offline, is also under its control, as is any form of poker. Brick-and-mortar casinos also remain the sole responsibility of Svenska Spel. Only three physical casinos remain operational in Sweden, though. Casino Cosmopol Sundsvall shut its doors on a permanent basis in 2020. Despite obvious conclusions, this was not due to the ill effects of the COVID-19 pandemic. 

Casino venues are not the only places that can host gambling games, though. You can find some of the best slots to play at restaurants, cafes, etc. As long as they own a liquor licence, they can also offer gambling machines. In fact, these venues operate three times as many machines as the three casinos. Many of them are reliant on those machines for extra revenue. You'll also find that these establishments have the ability to provide table games. Thus, you can sometimes find blackjack or roulette with live dealers on hand. 

Other Figures and Information From 2022

Sweden's gambling scene, on the whole, has been successful in 2022. It's not only casinos and their associated games that stand out for this. iGaming and online sports betting enjoyed a 2.8% year-on-year improvement in revenue. 

It is also important to note that Sweden's self-exclusion scheme has succeeded. A study revealed that 85% of respondents knew that the program, Spelpaus, exists and knew what it is for. By the end of the second quarter of 2022, 76,400 people had signed up to use it. That's another 4% increase on the first quarter of the year. 

Part of that survey also asked how often Swedes gamble online. It revealed that one in three people in Sweden partake in such at least once a quarter. The main reasons for people choosing Swedish-licensed sites since the liberalisation are: 

• Safety 
• Security 
• Control 

Yet it isn't all Swedish people who choose to sign up for the licensed platforms. A total of 8% of respondents admitted to joining offshore casinos and betting sites. Some pointed to sites that they believed weren't regulated by Spelinspektionen. Findings displayed that certain platforms actually are, though. Casinos and poker rooms are particularly popular for those seeking unlicensed sites. This is because they provide appealing bonus offers to players. Swedish law does not allow players within its borders to receive such promotions. Thus, a Swedish casino cannot offer bonuses, free spins, and so on.