VideoSlots Casino has released a statement cautioning that the proposed restrictions aimed at protecting Swedish players in the wake of the Covid-19 pandemic will end up pushing players to black-market gaming sites. VideoSlots casino is one of the top online operators serving players in Sweden among other regions in the European market.
Ardalan Shekarabi, the Swedish Social Security minister, had earlier proposed measures that could help protect local online players during the current Corona Virus outbreak. He proposed the SEK 5,000 ($500) deposit limits per week, capping bonus offers to SEK 100 ($10), and a mandatory time limit on how much time players can take while gambling online.
Expounding on the issue, VideoSlots casino indicated that the move is the strictest gambling restriction yet across the European market. Should the proposals be approved, the government would automatically fall short of achieving a 90% retention of gambling customers to the locally licensed operators.
A recent report by Copenhagen Economics stated that the Swedish online casino industry is currently facing stiff competition from offshore providers. The report revealed that 40% of Swedish online players could gamble on the black market (25% have already done so with 15% considering doing so). The main reason behind them shifting to the black market was as a result of strict regulations in their online gambling industry.
VideoSlots General Counsel, Ewout Wierda, stated that implementing more restrictions would further drive the players to the unlicensed providers. He added that the said player protection measures could help with coping with the Covid-19 crisis, but the measures will be futile if players who needed protection most switched to black-market gaming websites.