Sweden drops deposit cap plans

Sweden’s Government has abandoned its plans to impose new restrictions on the online casino industry – including a controversial slot deposit cap.

The temporary COVID-related restrictions on online gambling were intended to come into force on Thursday.

It involved a deposit cap of SEK4,000 (€387) weekly for online slots, a mandatory login time limit for players gambling online or at state-owned locations, and a loss limit when gambling in person at a machine outside of a casino.

However, the Government scrapped this programme before it came into effect – amidst strong opposition from industry groups and sector leader Kindred Group.

Sweden offers one of the most engaged gambling markets in Europe, with a recent survey by the Swedish Gambling Authority in collaboration with SKOP concluding that 73 per cent of all Swedes gambled at least once during 2021, with 29 per cent having played at least weekly.

The earlier figure indicates that the proportion of Swedish citizens gambling for money is on the increase, and is seven per cent higher than it was in 2020.

The survey also revealed that one in five respondents would be willing to play with an unlicensed operator, with four per cent saying they would “absolutely” do so, and 16 per cent answering “yes, maybe.”

However, the country has other iGaming restrictions in the pipeline, including sweeping new reforms including the introduction of a B2B supplier licence and new marketing restrictions.

These laws are expected to come into effect from 2023.