Sweden implements stricter gambling regulations
The Swedish government has officially approved the Macolin Convention, a global agreement aimed at tackling match-fixing in sports and strengthening its regulated gambling...
Swedish court reduces Videoslots fine by Spelinspektionen
The Linköping Administrative Court in Sweden reduced the SEK 9 million fine imposed on Videoslots by the Swedish Gambling Authority, Spelinspektionen, to SEK 4 million.
Sweden is one of those countries that has strict regulatory frameworks for the gambling industry. One of the gambling industry’s significant players, video slots, is now in the spotlight of the regulatory bodies.
After conducting various investigations, Spelinspektionen found that eight out of ten high-deposit players were able to deposit up to SEK 5.5 million, which equals $505,500. Moreover, the depositing action was done without proper source-of-funds checks. As a result, Spelinspektionen set a SEK 9 million ($827,000) fine.
Videoslots challenged the fine, arguing that Spelinspektionen’s investigation was based on a limited, non-representative sample. According to the operator, various factors, such as COVID-related disruptions and technical issues, can be the reason for the current situation.
While the court agreed that Videoslots violated the AML rules, it decided that there was no proof that the violations were systematic and ruled partially in favor of Videoslots by reducing the fine to SEK 4 million ($367,000).
Spelinspektionen stated:
“There is a basis for Spelinspektionen’s intervention through a warning and a penalty fee, but after an overall assessment, the administrative court determines the penalty fee to be SEK 4 million instead of SEK 9 million.”
This case highlights the growing importance of maintaining stricter AML controls.
FAQs
Is gambling legal in Sweden?
Gambling is legal in Sweden but is regulated under strict laws.
What is the legal gambling age in Sweden?
The legal gambling age in Sweden is 18.
Spelinspektionen reports 1.2% turnover declines in Q3
The Swedish Gambling Authority, Spelinspektionen, reported a Q3 turnover decline of SEK 6.7bn (£479.7m) from licensed Swedish gambling companies.Sweden, a Scandinavian...
