Swedish Court reduces fines for Bet365 subsidiaries
The Swedish Administrative Court has lowered fines imposed on two bet365 subsidiaries in 2023.Hillside Sports and Hillside Gaming were fined £4.9 million and £1.05...
Spelinspektionen to potentially receive increased funding
The Swedish government has recently proposed to increase Spelinspektionen’s funding.
The new proposal follows the regulatory authority’s recent funding increase back in April, as part of which the Spelinspektionen received an extra 2.4 million kronor. In comparison, this latest proposal would expand the regulator’s funding by more than 10 million kronor in 2024. Additionally, this increase would continue growing over the following years, reaching 15.6 million kronor in 2025 and 18.6 million kronor in 2026.
The proposed increase was introduced for a similar set of reasons as the most recent one in April, which includes fighting against sports integrity problems and illicit gambling. Additionally, in its announcement the Spelinspektionen mentioned that the funding increase will help it achieve the requirements set out by the Macolin Convention, a convention passed by the Council of Europe that aims to maintain the integrity of sports in the European region.
Furthermore, the proposed funding increase would also apply to the country’s financial regulator, the Finansinspektionen, which will enable it to better collaborate with the Spelinspektionen to restrict transactions involving unregulated gambling operators to help protect Swedish gamblers.
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