Online gambling in Sweden is booming

Since the legalization of online casinos in Sweden two years ago, the offer has grown steadily. The regulated market continued to grow in the second quarter of this year. This is at least evident from the figures that were published by the Spelinpenspections gambling authority last week.

A increase in sales in the second quarter of 2021

In the second quarter-also referred to as Q2-the gambling providers who have a license would have brought in a total of almost 6.5 billion Swedish crowns-SEK. The equivalent of this sum corresponds to around 637 million euros. Compared to the first quarter of 2021, this represents an increase of 4.2 percent. Compared to the previous year, net turnover was even increased by ten percent, according to the Spelinpection. The rapid increase in sales of the entire market can be explained in particular through the online offers. The sales that have been generated by this sector are almost two thirds of the total sales.

Around 100 online casinos and online bookmakers have a license in Sweden. These providers would have generated a total of 4.11 billion seconds in Q2 2021. The equivalent of this corresponds to a total of 402 million euros. Compared to the sales that were booked in the fourth quarter of 2020, almost two percent fewer sales were made. Nevertheless, this is very good, because the Q4 2020 is considered a record quarter with the high sales. Compared to the Q2 2020, the figures are even an increase of 4.4 percent this year.

Increase despite restrictions

As a measure against gambling addiction and too strong increase in online gambling participation, Swedish Online-Casinos Stricter rules regarding operations and bonuses since July 2020. For example, deposit limits of weekly only 5,000 seconds – around 490 $ – and a bonus limit of 100 seconds week – the equivalent of 9.80 euros. In order to counteract the negative effects of gambling for players during the Corona crisis, the social security minister of Sweden-Ardalan Shekerabi-introduced these limits last year. They should still apply until at least the end of this year. However, bookmakers for sports and horse betting are completely except for the stricter rules.

Lotteries were also able to increase sales. The so -called “Värdautomater” will operate from the national bodies and issue profits in the form of vouchers and the like. These slot machines would have generated a total of 1.4 billion SEK – at around 137 million $ – net sales. Compared to the first quarter of 2021, sales rose by 0.57 percent.

Land -based casinos in poorer economic situation

However, the land-based gambling sector in Sweden could not keep up with the success of the online casinos. The net sales of slot machines in the hospitality industry – the equivalent of 490,000 $ – remained unchanged in Q2 2021. Likewise, the sales of the Bingo halls have not changed and had remained the same with 44 million seconds, which corresponds to a sum of 4.31 million euros.

Nevertheless, it hit a sector even harder. The state casinos Cosmopol could not have any sales due to closings. Due to the Corona pandemic, the casinos were closed for a long time last year. One of the four land -based casinos announced that a reopening would not be worthwhile and had to close completely last year. The Casino Cosmopol in Sundsvall has been posting for years and will no longer open. You can read on the website: “Due to the consistently smaller clientele, the casino in Sundsvall is no longer profitable and it is therefore no longer economically justifying to continue to operate the business”.

How the other three casinos in Gothenburg, Malmö and Stockholm step out of the Corona crisis is uncertain. By legalizing the Online gambling game However, some of these casinos could no longer have new growth. It remains to be seen whether these casinos will recover or may also have to close.