Spelinspektionen says it can fine operators or even terminate their licenses if they do not comply with the established bonus offer policies
The Swedish gambling regulator, Spelinspektionen, has sent a letter to all licensed operators, warning them to stick to the newly implemented rules regarding bonus offers.
Sweden liberalized its market on January 1, 2019, opening it to interested international online casino and betting companies. Spelinspektionen has so far licensed nearly 70 operators and more are poised to enter the newly regulated gambling space.
The regulatory body said in a Tuesday statement published on its website that it has come to its knowledge that some license holders have neglected the rules regarding the offering of bonuses and similar incentives to their customers. Under Sweden’s new gambling law, bonuses can only be offered to players/bettors who register with one licensee or another for the very first time.
Spelinspektionen said in its statement that incentives beyond the ones authorized risk attracting customers with problem gambling behavior. The regulatory body went to say that it monitors carefully the online gambling space and how license holders comply with bonus rules, and that it has initiated a probe into several gambling companies regarding how they handle bonus offering policies.
Companies offering bonuses and similar incentives beyond the ones allowed under current law risk being slapped hefty fines or even having their license revoked, Spelinspektionen warned.
Is Sweden’s Gambling Law Unclear?
Spelinspektionen addressed claims that the provisions in Sweden’s gambling law that are concerned with bonus offers might not provide clear explanation of what the term bonus offers stands for. The regulator stressed on the fact that the law says that all forms of financial incentives related to the provision of online casino games and sports betting are deemed a bonus.
As mentioned earlier, licensed gambling companies are only allowed to offer bonuses to first-time players.
Ensuring that gambling services are provided in a socially responsible manner and in full compliance with the nation’s new gambling law was one of the main tasks Spelinspektionen was charged with when the new regulatory regime was enforced.
The introduction of a nationwide self-exclusion system was part of the problem gambling prevention and assistance measures adopted in the new Swedish gambling law. Spelinspektionen said earlier this month that more than 20,000 Swedish nationals have opted to self-exclude from gambling since the new regulations took effect.
People can select whether they want to exclude themselves from gambling for a set period of time or indefinitely. Spelinspektionen revealed that most of those who self-excluded did that for an indefinite period of time. To self-exclude, Swedish nationals need to register with the nation’s Spelpaus.se system.