Advertisements for Unlicensed Online Gambling Under Fire in Sweden

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Advertisements for Unlicensed Online Gambling Under Fire in SwedenIf you are part of online gambling that isn’t sanctioned in Sweden you might want to advertise elsewhere. Lotteriinspektionen, the regulators of Sweden’s gambling, are cracking down on advertisements for unlicensed online gambling as it has been affecting profit accumulations for Sweden.

In March of this year, a new amendment was enacted that will focus on not only companies in the country of Sweden, but also foreign companies that may be advertising unlicensed online gambling. This amendment is in compliance with the European Union competition laws, meaning that Lotteriinspektionen will not only focus on foreign companies, but also on companies based in Sweden.

What prompted an amendment such as this to be put in place? According to SBCNEWS, “In 2014 Lotteriinspektionen published declining market performance figures for state owned operator Svenska Spel. The operator’s governance had publicly complained to Swedish ministers that its services could not compete against big budget foreign operators targeting Swedish consumers, and that current advertising laws and practices were futile at punishing unlicensed online gambling marketing activities.”

In addition, foreign companies would look for, and find as many loopholes as possible to enable advertisement of online gambling.

With this amendment put in place anyone who is unlicensed, and found guilty of purposefully advertising online gambling would face fines, or up to six months in prison.

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