Government Backs Spelinspektionen with Funding Boost
LISTEN TO THIS ARTICLE:Sweden's gaming authority, Spelinspektionen, is set to receive additional funding to fulfill its obligations across Europe in combatting match-fixing.
The Swedish government has announced its plans to boost Spelinspektionen's budget significantly over the next three years. In 2024, the authority will receive SEK 10.8 million ($970K/€900K/£780K), followed by SEK 15.6 million in 2025 and SEK 18.6 million in 2026.
According to the government, this funding will help Sweden fulfill the requirements of the Macolin Convention of the Council of Europe, aimed at addressing the manipulation of sports results.
The grant will also aid the body in curbing illegal gambling, as it intends to enhance collaboration with the financial supervisory authority, Finansinspektionen. The government plans to propose a SEK 4.5 million increase in Finansinspektionen's allocation starting in 2024.
Related: Spelispektionen Authority under Scrutiny By Swedish Audit Office
Finansinspektionen’s increased budget will bolster their joint efforts with Spelinspektionen to block payments to illegal gambling operations. These proposals are based on an agreement reached between the government and the Sweden Democrats.
There must be strong consumer protection in the gambling market. With this investment, Spelinspektionen can sharpen supervision. In addition, the cooperation with the Financial Supervisory Authority can open up new opportunities to block payment mediation to and from illegal actors, something that can play an important role in the work to combat criminal activity.
Improved Funds for Enhanced Regulation
Since Sweden's iGaming and sports betting market went live in 2019, regulating the industry has been a bumpy ride for Spelinspektionen, with challenges and adaptations required to navigate the dynamic landscape of the iGaming sector.
The regulator has primarily grappled with issues related to unlicensed gambling sites and the critical task of ensuring player protection within this evolving environment. Over time, it has introduced and implemented several measures to keep illegal gambling platforms at bay and make gambling safer for its citizens.
The improved budget will no doubt strengthen the regulatory efforts of Spelinspektionen, providing the necessary resources to address various gambling challenges in its jurisdiction.
More Support
In April 2023, Sweden's leading gambling companies supported a fee increase to bolster the "underfunded" SGA in executing its responsibilities. The Online Gaming Industry Association (BOS) expressed its intent to generate additional revenue, surpassing the government's pledged SEK 2.4 million. The proposals involved raising the fees for a five-year public lottery license to SEK 3.995 million. The proposals involved raising the fees for a five-year public lottery license to SEK 3.995 million.
Countering illegal gambling and match-fixing is the highest priority for a safe, secure gaming market for the consumer. With even greater collaboration with the Financial Supervisory Authority, we can become sharper in supervision. I see the proposal for increased resources as very positive.
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