How does betting work in Sweden?

Online betting is for sure, legal in Sweden after the enactment of the Swedish Gambling Act 2018. This act regulates and decides the landscape of gambling in Sweden including the tax regimes for legal betting. According to the act, if any online sportsbook wants to operate a business in betting legally, it will have to pay a license fee and 18% gross revenue. To learn more about the licensing and regulations in Sweden, you may refer to the web site https://spelbolagutansvensklicens.co/

betting sweden

The Enactment of the New Gambling Act

A new Swedish Gambling Act was enacted on 1st January 2019 that further overhauls the legislative framework of gambling and betting in Sweden. Earlier, there were only two monopoly regulatory bodies namely Svenska Spel and AB Trav & Galopp (ATG), and certain non-profit organizations, which were allowed to offer betting services in the country. Now, the law says that anybody can offer online commercial gambling or betting in Sweden provided they obtained a license for the same. The main points are as follows:

  • To allow the commercial sites to offer and operate gambling services, they must have a Swedish license from the gaming authority.
  • The service provider must register the office in the EU or EEA and have earned the license.
  • Despite this, the service provider must also have an existing license from the gambling commission.

Taxes on Betting

As a player or gambler/visitor, you are allowed to bet on foreign bookmakers on the condition that you will have to pay a betting tax on your winning amount. However, such things do not exist for bookmakers who are licensed in Sweden. Also, you do not need to pay any betting tax especially when you are betting at a bookmaker that is based in the European Union or the United Kingdom. There exist certain conditions on taxes on betting in Sweden and these are:

  • If you are betting at a bookmaker that possesses an offshore license, like the one that exists in a Caribbean nation like the Bahamas or Curacao, then you will have to pay at least 30% tax on your winning amount.
  • The same rule applies to Asian Bookmakers that provide attractive odds and offers for games that are often played by “Matched Bettors.”

Conclusion

Today, many Swedish Casinos have their offices based in Malta for better exposure and expansion in the gambling industry. Many Nordic casinos are licensed by Malta Gaming Authorities. These authorities allow casino operators to provide the best bonuses, rewards, payment options, and support for online gambling. There is also a range of gaming sites and a range of live casinos helping you play the games with a variety of live options, all in Sweden.

Nakoa Davis
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