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Increased Gambling Tax of 22% in Sweden Takes Effect, Starting Today

Sweden Starting from July 01, 2024, an increased gambling tax of 22%, up from 18%, comes into effect in Sweden. The new tax applies to all gambling products and has been met with a mixed response from industry stakeholders. The Swedish Parliament approved the government’s proposal to raise the excise tax this May.

While not opposing the decision, Spelinspektionen has given notice of particular challenges in appraising the implications of the raise. The gambling regulator has indicated several times the potential impact on the channelization rate of players toward legal avenues of gambling.

CasinoGamesPro reported last December that BOS, the Swedish Trade Association for Online Gambling, published its advisory statement to the government and called the decision “the best Christmas present” that the unregulated market could ever get.

Besides decreasing the operators’ profits, the tax hike would also lead to job losses and a reduction in technological investments, according to experts. Players would also be negatively affected by the tax increase, as it would lead to reduced promotions and higher consumer costs, eventually driving them to more competitive conditions offered by unlicensed operators.

Initially announced in September 2023, the proposal aimed to increase the gambling tax revenue “to strengthen the financing of state activities without causing a significant impact on businesses and the size of the tax base.”

The Share of Swedes Engaging in Online Gambling Has Increased from 12% in 2022 to 16% in 2024

The Share of Swedes Engaging in Online Gambling Has Increased from 12% in 2022 to 16% in 2024 Despite the financial and regulatory challenges that Swedish gambling operators are currently confronted with, a study, conducted by Företagsutveckling AB, an independent research institute, and CasinoFeber, indicated an increased participation in the licensed market.

From 12% in 2022, the share of Swedes engaging in online gambling has risen to more than 16% in 2024.

The past two years have seen a shift in demographics as well. Female participation in online gambling has increased from 31% in 2022 to 40% in 2024. Sports betting, however, has remained a sector predominantly preferred by men, with 67% of the gender split in favor of male bettors.

Looking into the age of online casino players and sports betting enthusiasts, the average age for the first group is 39 years for female players and 42 years for male players. Sports betting enthusiasts tend to be older, with females averaging 43 years and males – 48 years. These statistics have remained unchanged over the last two years, as the study indicates.

As for the gaming preferences of survey participants, 52% said they liked slots the most, 15% favored card games, 13% liked Blackjack, 8% – Roulette, 8% – Poker, and 3% preferred dice games. As for sports betting, football was the most sought-after market, with 60% of participants betting on it. Horse racing ranked second, at nearly 32%, and political and entertainment bets ranked third, at 6.5%.

 Author: Harrison Young

Harrison Young is an experienced writer, who started his career almost 8 years ago. Prior to joining our team at CasinoGamesPro, he worked as an editor for a small magazine.