Betting in Sweden

Sweden has a rich and vibrant history when it comes to gambling. Legend has it that in 1020, the kings of Sweden and Norway turned to rolling a pair of dice to settle a territorial dispute. The Swedish king won and from then on, gambling has become part of their daily lives. The favourite pastime became beloved for generations.

Today, Sweden allows a wide selection of gambling and betting activities from casino table games, poker, lotteries, slot machines, horse racing, and sports betting. Sports betting gained a lot of attention after the implementation of the Swedish Gambling Act of 2018.

Let’s dive into what you need to know.

The New Gambling Act

In 2019, Sweden opened new possibilities for foreign companies to obtain licences in the country. This Act deals with gambling involving money. Since then, the country held a promising status when it comes to the online gambling landscape.

Anyone can now participate in online betting, but it comes with requirements to meet. The Act allows a foreign online sportsbook to operate in the country after obtaining a licence from the gaming authority. As a result, the Swedes now have access to many bookmakers. Having many options to choose from, one can have unrivalled betting experience.

Taxes on Betting

You do not have to worry much about betting taxes in Sweden as there are ways to protect your hard-earned winnings. For starters, you are allowed to bet on offshore bookmakers. The downside is that you have to pay 30% tax on your winnings.

This is mostly the case when you bet on bookmakers with licences issued by Caribbean Nations like Curaçao and the Bahamas. This also goes for Asian bookmakers. It isn’t really something you’d like but, take heart, there is a silver lining to this.

Once you place a bet on a Swedish bookmaker, you do not have to pay betting taxes. Same thing goes for those bookmakers based in the European Union or the UK. Take cus.io as an example. Your hard-earned winnings here will be all yours to spend and keep. Such a sigh of relief, right?

Safety Measures In Betting

The Swedes ensure the well-being of bettors seriously. With this in mind, responsible gambling is of utmost importance. To uphold this, betting operators must implement safety measures. Sportsbook providers must provide tools that allow players to set limits on their betting activities. This can be limits to deposits, loss limits, or time limits.

Moreover, resources and information should be available to bettors, too. This raises awareness and also provides support to bettors. That way, gamblers can keep potential risks or gambling problems at bay. The responsibility is shared by operators and bettors themselves. Every bettor must maintain control, set limit and seek support when needed.

Takeaways

All in all, Sweden has a long-standing history in its incredible gambling culture. The early acceptance of gambling shaped its present-day approach to gambling, especially to sports betting. As the future looks promising, the country will continue to stand at the forefront of the sports betting market.