Regulations Coming for Swedish Online Gambling
Online gambling is rapidly becoming more and more popular all over the world, and Sweden is no exception to this fact. Due to their nature, many countries have strict regulations for online casino gaming to prevent these online gaming sites from taking advantage of users. Sweden is looking to increase its level of control over the countries growing online casino industry.
Leaders in Sweden are planning to enact more strict regulations on online casino ventures. Proposed regulations include things such as a new licensing system and an increased level of protection for consumers. The goal of the licensing system will be to prevent illegal online casino's from operating. Much of the debate over regulating Swedish online gambling is centered around the countries capital in Stockholm. One facet of the regulation is that the countries gaming regulator could make internet service providers display messages telling players that the casino is unlicensed. This would also prohibit any monetary transactions from occurring on the website in any form.
Swedish legislators hope to have the bill take effect as early as January 1, 2019. The enactment of these licensing regulations would cost online casino's somewhere in the realm of $84,000 to acquire. Sweden's Public Administration Minister stated that unregulated gambling had taken over the Swedish gambling market. This is what led law makers to seek regulation for the online gambling industry in Sweden. Without the regulations, unlicensed casino's were running online in the country, and funding criminal activities.
The Swedish Gambling Authority has been given more power and tools to aid in its fight against unlicensed casinos. The Swedish Gambling Authority will also ensure that licensed casinos are operating within the laws that are laid out for them. Government officials hope that the enactment of more strict regulations for the online casino industry in Sweden will lead to a decline in new online casino's and the closing of those that are not licensed. Without regulation, online casinos of Sweden have been able to charge whatever rates they see fit for their services. These unregulated casinos can charge whatever they want for deposits from both first time and returning members. They also often do not provide resources for individuals that may have a problem with gambling.
The taking advantage of people with an addiction for gambling is one of the major reasons for legislators pushing for stricter gambling regulations for online casinos. In fact, they have ensured that these regulations would lead to a reduced rate of gambling fraud and criminal involvement. The Swedish Agency for Public Management was directed to review the regulations, and to add any amendments necessary to reach the goals of the act. Over time, law makers will analyze and adjust the regulations in an effort to stay on top of the casino industry and prevent further gambling fraud.