Gambling Revenues In Sweden Drop During 2023

In 2023, Sweden experienced a slight dip in its licensed gambling revenue compared to the previous year. The official figures released by national regulator Spelinspektionen revealed that the country’s gambling revenue dropped by 1.2% to SEK27.13 billion. This decrease was primarily driven by a decline in the online gambling sector, which had been the main source of revenue in the previous years.

Online gambling revenue in Sweden accounted for the majority of the total revenue, reaching SEK17.03 billion. However, this represented a 0.7% decrease compared to the previous year. This decline was in stark contrast to the 6.0% increase recorded in 2022. Despite this setback, online gambling remained a significant contributor to Sweden’s gambling industry.

The state lottery and slots segment also experienced a decline in revenue, dropping by 3.6% to SEK5.60 billion. This decrease can be attributed to various factors, including changes in consumer preferences and increased competition from other forms of gambling. Additionally, revenue from state-owned Casino Cosmopol land-based casinos witnessed an 11.4% decrease, falling to SEK485 million.

While the online gambling and state lottery sectors faced challenges, there were some positive trends in other areas of Sweden’s gambling industry. Revenue from national lotteries increased by 1.4% to SEK3.60 billion, indicating sustained interest in these games. Furthermore, public games revenue climbed by 9.3% to SEK199 million, while land-based commercial gambling revenue saw a modest increase of 2.3% to SEK225 million.

The final quarter of 2023 saw mixed results for the Swedish gambling industry. Overall revenue during this period amounted to SEK7.10 billion, representing a 3.2% decline compared to the same period in 2022. However, online gambling revenue experienced a slight increase of 0.23% to SEK4.40 billion, following consecutive declines in the previous quarters of 2023.

Sweden’s gambling industry could face further challenges in 2024 due to proposed measures by the government to implement a stricter ban on gambling with credit. While the existing Sweden Gambling Act already prohibits licensed operators from offering credit, the government aims to strengthen these regulations with a more comprehensive ban. The proposed ban would prevent operators and gambling agents from processing deposits or bets financed by credit, including the use of credit cards.

The proposed ban on gambling with credit aligns Sweden with several other major gambling markets, including neighbouring Norway. By implementing these measures, the Swedish government intends to address concerns regarding excessive gambling and further protect consumers. However, the comprehensive credit ban may have an impact on the revenue generated by the gambling industry in the coming years.