A few weeks ago, the Swedish government proposed new stringent regulations in a bid to protect Swedish players from harm during the ongoing Coronavirus pandemic. In response, LeoVegas has penned a letter to Sweden’s Ministry of Finance to counter the proposals and instead pitched for better player protection strategies that would keep the iGaming industry in Sweden alive.
In this letter, LeoVegas stated that while the new market regulations had given the government increased control of the gaming industry, they were pushing players to the black market as local operators are now not able to match the services available at offshore sites.
A recent report by Spelinspektionen indicated that the number of online players gambling in the available Swedish regulated markets was diminishing drastically because local players have started switching to black market online operators. Thus, based on the reduced channelization numbers, LeoVegas challenged the ministry, indicating that the new rules are hurting the locally regulated markets.
LeoVegas, however, acknowledged the importance of player protection but stressed on a long-term market regulation strategy that will support the Swedish iGaming industry without forcing both players and operators out of the market. Should the government continue pushing for the harsh policies, they would end up achieving the opposite of what they had planned for, given that Swedish players in offshore sites aren’t protected by the country’s gaming ombudsman.
Currently, LeoVegas is one of the world’s most reputable gambling service providers, having sealed over 40 partnership deals with content developers from different parts of the globe. The company operates in dozens of regulated markets, meaning that it has enough experience and information regarding the effects of overly strict market regulations. LeoVegas holds licenses from the Malta Gaming Authority, the United Kingdom Gambling Commission, and Spelinspektionen among other gambling jurisdictions.