Sweden: Possible Legalization of Gambling – Exciting News!

05/16/2011
By Pamela PattersonGoogle

 

Well folks, it appears that Sweden may be the next country to follow suite and legalize online gambling.

The online industry is rapidly booming in Sweden and according to the Research Institute of Industrial Economics; reports indicate that 26% of Sweden's gambling market is present online. With this research at hand, the Swedish government is fully aware that they need to address this online monopoly in order to control and protect against fraud.

Moreover, Svenska Spel has announced a whopping 2.7% year-by-year increase in gaming revenues in 2011 during the first quarter of 2011.  This totaled SEK 2.4 billion or rather €269.9 million. Coincidently, these numbers indicate that the price has fallen 9% to SEK 58 million or €6.5 million.

Besides the growing numbers Christian Democrats are also making a U-turn with big supporters pushing to legalize online gambling. They realize the growing trend this market has become throughout Sweden and would like to protect customers by regulating safe gaming and customer satisfaction.

Andreas Carlsson, a spokesman for the Christian Democrat of Cultural Policy commented that Christian Democrats must take “responsibility... for the gamblers” and enforce “social responsibility.” With outside private casino operators, Carlsson suggested that there is no sure sign that Swedish players will be treated fairly and be in a safe, regulated environment, unless they work together.  

Furthermore, with approximately 1 million Swedish online gamblers dishing funds to foreign casinos, with legalization, these funds will be able to be used on Swedish websites and bring new taxable income to the Swedish government. As for now, with all of these growing online gambling trends in Sweden, it may push the door for Sweden to join other countries and bring gaming security to their residents and some control to this market. 

 

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