Since 1997, there has been a single monopoly for the entire gambling industry. With Svenska Spel, and the laws in place that ban competition, there isn’t a lot of variety in terms of locations and games for sports betting, poker, casinos and lotteries. The Swedish government holds to the claim that by controlling it, they can control the level of problem gambling and keep the monopoly under Swedish rule. Though they have dropped hints that they may sell Svenska Spel, the door remains firmly closed at the moment.
Regardless of the monopoly, gambling is an extremely popular activity countrywide. Though the income isn’t a “major” part of Sweden, it holds a very important place in the country’s economy. Currently, promoting an outside gambling service is a criminal offense, and punishable by law. A 2002 amendment allowed Svenska Spel to monopolize the online gaming industry by including it under gambling services. The industry earns thousands in revenue, however they have struggled for years to continue generating income for the community.
Taxes and Fees for Gambling in Sweden
Online casinos may charge a fee of 30 to 100 SEK for registration, and their memberships tend to last 6 months or so. In many online casinos, you can get offers for up to 400% deposit bonuses. While the registration fee is nominal, there are taxations for online casinos that aren’t a part of the European Union. There is a 30% tax on all gambling winnings from outside casinos. Certain poker tournaments may require a 50%, or even more, in winning taxes. However, any winnings you’ve acquired through Swedish online sites don’t have any taxes attached.
Any funds acquired by Svenska Spel is put back into the community for health care, schooling and other necessities. As online gambling sites grow, there are more and more Swedish online casinos based in other countries. They offer the same lovable games using software that supports the Swedish language and currencies. There are over 250 casinos that are powered by reputable casinos such as Microgaming and Win A Day, and they accept the most popular, local forms for deposits and withdrawals.
When looking for the best Swedish online casinos based outside of the country, it’s important to make sure the site is legitimate. It should be licensed and regulated by its country. Read reviews, and try some of their free games to see how you like the site before funding an account.