The Swedish gambling authority will once again receive an increase in funding, this time across the next three years, to strengthen work in combating illegal gambling and match fixing activities.
After gaining an additional SEK 2.4m (€200,000) for the current year, the country’s government has proposed a SEK 10.8m (£777,385) increase in the authority’s budget for 2024.
In addition to this, it is also estimated that the Spelinspektionen will also receive an extra SEK 15.6m (£1.12m) through 2025, and SEK 18.6m (£1.33m) to combat these activities during 2026.
“Countering the illegal game and match-fixing is of the highest priority for a safe and secure gaming market for the consumer,” commented Camilla Rosenberg, SAGA Director General.
“With even greater collaboration with the Financial Supervisory Authority, we can become sharper in supervision. I see the proposal for increased resources as very positive.”
This move comes as the Swedish government looks to ensure that the gambling market is not abused for criminal enterprises, with its noted that illegal gambling and match-fixing are key sources of income for criminal networks.
“Fixed sports competitions and other forms of match-fixing are against the fundamental values of sport and are a serious threat to the future of sport,” said Sports Minister Jakob Forssmed.
“Reinforcement of the Spelinspektionen’s work contributes to protecting Swedish sports from being undermined by organised crime.”
However, in addition to the increased funding, the SGA must also forge a closer cooperation with the Financial Supervisory Authority in order for these aforementioned goals to be achieved “as effectively as possible.”
This will see an additional SEK 4.5m made available to block payment mediation to and from illegal gambling operations.
“There must be strong consumer protection in the gambling market. With this investment, Spelinspektionen can sharpen supervision,” noted Financial Markets Minister Niklas Wykman.
“In addition, the cooperation with the Financial Supervisory Authority can open up new opportunities to block payment mediation to and from illegal actors, something that can play an important role in the work to combat criminal activity.”
Earlier in the month, licensed gambling companies in Sweden recorded a slight drop in revenue year-on-year through 2023’s second quarter, with the figure of SEK 6.7bn down a little over one percentage point from SEK 6.77bn.
However, this does represent a slight nudge of 1.77 per cent from the SEK 6.58bn witnessed through Q1. For the year-to-date, overall revenue was down less than half a percentage point after closing at SEK 13.28m (2022 SEK 13.33bn).