Spelinspektionen Faces Audit for Effectiveness in Sweden
LISTEN TO THIS ARTICLE:Sweden’s National Audit Office Riksrevisionen, has initiated an audit into Spelinspektionen (SGA) to find out if the SGA’s regulation of the gambling market has been impactful.
The investigation will look into how the regulator is meeting its primary obligation, which is to supervise the gambling market. It will also consider the effectiveness of the measures Spelinspektionen has taken to combat the issues presented by the re-regulation of the Swedish gambling industry in 2019.
According to Riksrevisionen, the results of the audit will be available to the public in September 2024.
Significant Increase in Unlicensed Gambling
Spelinspektionen’s audit announcement follows the recent publication of a new study that revealed a ten-fold surge in visitor traffic to unlicensed websites since 2019. According to ATG, regulated online gambling channelization rates ranged from 70% to 82% in Q3.
This information may likely be one of the reasons Riksrevisionen is investigating SGA, since the audit office also shared data indicating that Swedish gambling market might be negatively impacting the economy.
Riksrevisionen stated that the Swedish gambling policy aims to establish a secure and healthy gambling market under public oversight. The policy should “protect the revenue for the public and facilitate funding for non-profit activities. However, it argued that despite generating SEK6 billion in taxes, the sector incurs a problem gambling cost of SEK9 billion to society.
Third Quarter Results
Earlier this month, Spelinspektionen published the Q3 report for the Swedish gambling market which revealed operates earned a combined gross gaming revenue of SEK6.7bn in the third quarter. The figure dropped 0.6% year-on-year.
Land-based casinos reported the sharpest increase in turnover at a 30.5% increase year-on-year. However, non-profit lotteries GGR dropped by 8.26% compared to the previous year.
Live casinos and sportsbooks generated the highest revenue at SEK 4.25bn but was down 1.4% year-on-year.
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