Sweden’s Gambling Industry in Numbers – Statistics and Goals
When it comes to online gambling, not many countries can beat Swedes who love to spend their time and money on wagering against blind luck. This country surely loves its sweet share of slot games and related to them revenues, but the industry in that country has been on a steady decline ever since they decided to reshape their own gambling market. The internet segment shows a very promising growth with numbers reaching all-time highs, but there are some of statistics that we must pay close attention to.
The recent growth of the volumes would have been impressive if the rate of growth remained the same compared to the beginning of the 21st century. Sadly, the growth slowed down dramatically and many online casinos had to report minor losses at some point in the previous year. However, losses were reported by companies that were driven out or were losing their profits due to administrative reasons. Simultaneously, all companies involved demonstrated a very steady growth.
One of the brightest news about the national market is that it grew over 3% during first three quarters of 2017 and this is not the end of the reported time period when growth accelerates slightly due to more holiday activities. Various studies show that this growth is a result of much improved online segment with revenue coming mostly from online casinos controlled by either Svenska Spel or its competitors. Note that the GGR of this economy segment reached a spectacular 1.6 billion euro volume before November 2017 and there are all signs that it will reach even higher volumes within next three months.
Additionally, we must pay attention to the fact that the government former monopoly is still the biggest shark in the shallows even after it lost its exclusive rights. An impressive 39% share or 650 million euro worth of GGR are contributed by this national giant.
The Foreign Wave
The stagnant domain needed a breath of fresh air and new blood from the outside could definitely improve the situation nation wide. The country decided to warmly welcome all internationally licensed operators and give them at least a quarter of the overall domain volume in order to diversify the domain. This is a good decision that will positively affect the health of the national economy in the long run. Guest companies will amp up the operations and bring in more revenue. Note that the financial growth was over 3% in general meaning that foreigners contributed to the positive notion in the recent improvement of all statistics just as much as other enterprises that are endemic to the country.
Swedes will enjoy new online casinos that determinatively enter the competitive environment and try to cut off a delicious piece of the Nordic pie of slot games and other entertainments.
The Brighter Tomorrow
Sweden definitely knows how to attract foreign investors and tries its hardest to increase the amount of revenues generated by the industry as a whole. Inviting more investors and strong foreign competition surely makes the landscape of the domain much more interesting to huge brands that want to dive into the Nordic casino domain which is projected to reach an impressive annual SEK 26 billion by 2020. This is an incredibly high number and several huge companies have been waiting to be allowed to try competing for a big share of revenues generated by this country and its citizens.
While there are no more monopolies, the government is set to protect national operators and ensure that their shares are significant enough. National companies take up to 68% of the market in 2015 and this number did not change much since. Many experts anticipate that this number will slowly reduce as established companies from abroad start invading the national economy and dilute the audience preferences with more choices.
Some people are concerned with the situation around governmentally controlled corporations that should be privatized in the recent future. In fact, the privatization process should be wrapping up by the summer of 2018. At the same time, the country itself will switch to a passive overseeing position by giving more power to the governing body that will supervise the activities of online casinos both foreign and national. With rules being slightly stricter, we expect only good from these changes.
Players Should Be Happy
It is more than important for the country to increase the popularity of chance games and make sure that their citizens are completely satisfied with options provided inside the Swedish segment of the internet. Recent studies showed that Swedes are more than capable of controlling their addictions and rarely become obsessed with slots and roulettes in general. If all these institutional efforts will rekindle the passion for games of chance, the domain will have all chances to stay in good shape.
At the same time, this experiment will be very important for the international community as some important national markets are still operated by monopolies and prohibit outsiders from getting in.