Sweden is a Scandinavian country located in Northern Europe. Sweden’s GDP is the seventh richest in the world and this nation of just under 10 million people enjoy a high standard of living. Sweden’s health care, education, and strong economy are respected worldwide. This country has a long and colorful history along with a rich culture. As could be expected, gambling is a big part of both.
Gambling in Sweden is legal, licensed, and regulated although the European Union is challenging the status quo. The Swedish gambling market is dominated by a state monopoly, Svenska Spel which operates the lottery. Swedish gambling laws allow internet gambling companies to acquire licenses but there have only been two such licenses granted so far. These licenses were granted Svenska Spel and Trav och Gallopp which oversees the horse racing industry. This set up is not conducive to European Union standards and it is expected that Sweden will be forced to open up competition.
In the meantime, Swedish online gambling fans can enjoy placing their bets with foreign online operators without any fear of prosecution. However, these foreign sites are prohibited from advertising their services in Sweden and offenders face sanctions.
Top 10 Gambling Sites for Sweden
What are the Best Gambling Sites and Promotions for Sweden?
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How Regulated is the Swedish Gambling Market?
The Swedish gambling market is tightly regulated and controlled. The lottery, poker rooms, casinos, and sports betting are among the activities that fall mostly under the control of state-run Svenska Spel. Swedish gambling laws are currently being challenged by the European Union and it is expected that the market will be opened up to allow true competition soon.
Is Gambling Legal in Sweden? What is the Legal Gambling Age?
Gambling in Sweden is legal, licensed, and regulated. There are currently 6 casinos operating in the country as well as many other betting platforms such as lottery games, bingo, and horse racing.The authorities have taken some measures to protect the state monopoly but Swedish online gamblers are not prosecuted for placing bets with foreign unlicensed betting sites. The legal gambling age here is 18 but casinos will not allow anyone under the age of 20 to enter.
Does Sweden Tax Gambling Winnings?
Some gambling winnings in Sweden are taxed while others are not. Those who win at foreign sites are subject to a 30% tax but winnings from domestic establishments are not subject to any. Sports betting is a bit of an exception in that winnings from a bookmaker that is licensed anywhere in the EU are not taxed.
What Currencies and Payment Methods do Swedish Players Generally Use?
The official currency of Sweden is the krona and it is accepted throughout the country. The krona is offered as a currency option at some online gambling sites but it is not overly common. Swedish online gamblers that want to perform a financial transaction with a betting site have plenty of easy options. Major credit cards are the most commonly used and widely accepted method while eWallets such as Skrill and Neteller are also popular. Debit cards and prepaid cards like PaySafe and EntroPay as well as bank wires are among other fast and easy payment methods.
It is recommended that players check with their preferred gaming site to find out what the best options are. Don’t forget to check out the in-depth reviews at Gamblingjudge.com and take advantage of the many bonuses that are waiting for you there.