Sweden extends deposit cap on online casinos

Sweden has again extended the limit on the amount customers can deposit on online gaming platforms until 14th November. These controls were first implemented in July 2020.

In an attempt to curb increased online gambling with the onset of the pandemic, the Swedish Government passed legislation that limits the amount customers can deposit into their account to SEK5,000 (€493).

Gamers must also set a time limit on their account that only allows a certain amount of time before the player gets cut off.

Bonuses that are offered on games are also capped at SEK100 (€9.87).

Minister for Social Insurance Ardalan Shekarabi said in April that “we see that the spread of COVID-19 is still high in Sweden, the current situation entails great risks for consumers in the gaming market."

“We therefore need to act to reduce the risks for the most vulnerable consumers.”

In March, iGamingBusiness reported that the Swedish State Treasury found that 85 per cent of gambling in the country during 2020 took place with operators licensed in Sweden, a decrease from the reported figure in 2019.

It is unclear if the Swedish Government will continue to impose these sanctions after the country has vaccinated its population but there is potential for this to be extended again.

Featured Image: Ardalan Shekarabi (Nord.news)