New Casino Regulation in Sweden – What You Need to Know
Gambling regulations have been changing dramatically across the globe, and you must take note of any updates that might affect your work in the casino industry. On January 1, 2019, Sweden implemented new gambling legislation forbidding private individuals from playing games of chance without a license.
This post is intended to give you a thorough understanding of the changes and how they will affect the Swedish casino market in the future. In this article, we’ll explain everything you need to know about this new casino regulation.
When was casino regulation in Sweden passed?
The new laws, which the Swedish parliament passed in December 2018, come after a tax investigation revealed that many private individuals were playing games of chance in their homes, such as roulette and baccarat. While the government had previously permitted these games of opportunity to be played privately via private companies and associations, those institutions were not licensed by the government.
Gambling is legal in Sweden
Despite these changes, gambling is still very much legal in Sweden. The Swedish parliament passed legislation specifically stating that the new laws do not affect private individuals’ ability to play games of chance privately in their homes but add that a licensed entity must regulate any form of gambling.
Sweden was the first European country to legalize online gambling back in 2013. These new laws now provide a formal framework for private individuals to be licensed and monitored by the government.
A new casino license is required for private individuals
Now that the new law has been passed, private individuals can apply for a license to play games of chance in Sweden, and the only required application is a criminal background check. The Swedish National Gaming Authority will oversee the casinos that are located within the country and need not be licensed by the government.
A license to operate a casino will be granted to an existing Swedish private casino in order for it to avoid market disruptions. If a new casino opens, it is still required to apply for a license.
How long does it take to get a license?
The Swedish National Gaming Authority will review all applications before they can be considered complete. Applicants need to complete a background check and demonstrate that they fit the criteria for a gaming license, as outlined in the legislation. Once submitted, the application will be reviewed by the authority, which then decides if it is approved.
How to apply?
If you are an individual who wishes to play games of chance without a license in Sweden, you must complete an online application. The National Gaming Authority website’s relevant section has all the details on how to set up the application process.
Applicants must also complete a criminal background check, even if they are already residents in Sweden. If you are not a Swedish citizen, you must provide your biometric data. The website explains that this is done to help protect individual privacy and the integrity of the gaming market.
In addition to the biometric data and criminal background check, applicants also need to provide a large amount of information about themselves, such as their bank account details and income.
Can companies apply?
The new gambling regulations are intended to regulate private individuals who the government does not currently license. Companies will have to wait until the 2020 licensing season when they will be able to apply for a license with no criminal background checks required and reduced documentation. A company can also use it through an existing private individual.
What changes have been made to the tax code?
Any companies that are already licensed by the Swedish government and not under the new legislation will receive a one-time refund for any taxes paid or to be paid in the next 2 years. There is no time limit for this refund, so long as the company is licensed under the new regulations. The amount of tax refunded will also depend on how much gaming taxes were paid, which will be calculated by how many people had a license to play games of chance.
Please note that this does not include tax paid for any criminal convictions.
What about the licensing tax?
The Swedish National Gaming Authority will charge a licensing tax on any forms of gambling accepted by private individuals in Sweden. This will be paid to the government, and the amount of taxes collected per person per annum is capped at 0.5% of gross gaming income.
The licensing tax is due by December 31 each year and must be paid for the previous year. The tax only has to be paid for those who had a license to play games of chance in the last year. The exact amount will depend on how much each individual plays per annum.
In addition to licensing taxes, there are also different taxes that a licensed casino will have to pay based on their gross gaming income. These regulations are enforced separately by the Swedish National Tax Agency.
What other kinds of gambling are allowed in Sweden?
In addition to gaming machines, casinos, sports betting, and poker, there are also lotteries. These lotteries are held by Swedish companies and are managed by the Swedish Lottery Authority. The new laws, the lottery authority will not be affected and will continue to hold lotteries for residents in Sweden.
In addition to these forms of gambling, a number of different types of games are legal in Sweden. These include bingo, horse racing, art auction games, and lotteries with jackpots. The list goes on and contains more traditional forms of gambling that are not regulated by the laws in the country. These include sports betting, casino games, poker, and gaming machines.
The new law also means using credit cards at brick-and-mortar casinos in Sweden are now possible. Previously, gaming operators were required to recoup the cost of this transaction.
With new rules by Swedish gambling authority in place, Swedish players can expect the overall customer experience to improve. Moreover, it will also benefit casinos as they will be able to get rid operators operating their business hastily. As a result, customers will have a better gaming experience and also feel safer at these venues. For more information about unregulated casinos in Sweden read more at, https://casinoutanspelpaus.io/.