Betsson escapes Sweden’s market violation fine

Betsson escapes Sweden’s market violation fine

Posted by: AffPapa

Betsson AB  has been reprimanded by Spelinspektionen, Sweden’s gambling inspectorate, for violating its penalty-based betting market regulations during an Allsvenskan  football game.

The offense refers to a match between Malmö FF and Elfsborg FC on the 20th of May, 2021. The Inspectorate was informed that Betsson had provided commodities in violation of Spelinspektionen integrity standards.

Following modifications to the Gambling Act in 2020, Spelinspektionen prohibited authorized bookmakers from conducting “markets on expulsions, fines, and yellow cards in football.” The provision was put into place to protect Swedish lower and amateur football teams from becoming victims of sports corruption.

In response to the admonishment, Betsson admitted to taking approximately SEK 3,000 (€300) in wagers that violated market regulations.

Betsson stated that it had adjusted its sportsbook platform to eliminate all contradictory markets. Yet, the disparity was caused by a third-party supplier selling yellow card and penalty markets as part of a ‘combination game’ Betsson did not control.

A Spelinspektionen judgment went as follows:

“The restriction on betting on penalties for rule-breaking exists to oppose the exploitation of outcomes in sport and to safeguard specific players from being subjected to excessive pressure. The Inspectorate has released questions and answers regarding the rules on the external website and stated that to identify what is a breach of the rules, licensees should base their decisions on the guidelines of each sport.”

Betsson instantly refunded customers’ wagering stakes after the markets were found invalid. Furthermore, the bookmaker directed its third-party supplier to eliminate all contradictory markets for its offering to reduce potential misunderstandings. Betsson was cautioned but not fined monetarily by the Inspectorate after Spelinspektionen concluded that the bookmaker had taken appropriate steps to guarantee that penalty markets weren’t any more accessible to clients.

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