Governing entities throughout the European Union have often gone against online gambling, with changes in perspectives towards this marketspace coming within the last decade. One nation refused to alter their mindset, with the Swedish Health & Social Affairs Association proposing that weekly deposits for online betting be limited to SEK5000. Bonus offerings from casinos in this proposal couldn’t offer more than SEK100 in funds. The SHSAA claims this is for the protection of bettors, with this being a falsified claim to fool consumers. Restrictions of this nature throughout the COVID-19 pandemic will do more harm than good.
The European Gaming & Betting Association confirmed this information, with the SHSAA not providing context to their proposal. The EGBA Secretary-General highlighted that targeting new restrictions online customers will harm players, which follows after statistic evidence proves that consumers in Sweden don’t exceed average volumes. This means those individuals aren’t problem gamblers and have consistent experiences.
It also means that the SHSAA hasn’t any evidence to back their claims, with these potential measures being more bullish than protective. Consumers will find themselves moving towards the online betting black market, which relies on offshore casinos. These establishments don’t have betting licenses and often have secretive criminal enterprises. Swedish bettors would be at risk from these casinos with the SHSAAs proposal being enacted.
The European Gaming & Betting Association expressed that Swedish regulators cannot approve this proposal, which would reveal an influx on unregulated casinos throughout their market. It’s not challenging to locate a service that doesn’t engage with the Swedish Consumer Protection Act. Countless illegal activities could be imposed on consumers, including their finances being stolen. It concerns the EGBA that the Swedish Health & Social Affairs Association suggested these measures.
It should be mentioned that the SHSAA hasn’t made any efforts towards re-approving the Consumer Protection Act, which ends in December 2020. Some betting analysts worry that the SHSAA is moving towards an obliterated online betting industry, which would force consumers back into the Swedish financial market. This strategy is unconfirmed but would make sense amidst the coronavirus.