Online Sports Betting operator Betway has confirmed its plans to be a part of the Swedish online gambling trade association Branschföreningen för Onlinespel (BOS).
The trade-association strives to protect the interests of the online gambling operators in the country and is committed to ensuring that online gaming companies are not subject to any unfair policies.
Sweden recently opened up its market for online sports gambling. Betway entered the Swedish online gambling scene only earlier this year. As such, amidst tightening regulations concerning online gambling Betway has revealed its plans to join the Swedish online gambling trade association.
Some of the members of the trade association include popular gambling companies like Scientific Games, bet365, Mr. Green, Kindred, GVC Holdings and LeoVegas.
Last week, BOS lashed out at the Swedish government alleging that the stringent restrictions on licensed gambling operators in the country will be counterproductive and trigger an increase in illegal gambling activities and sites eating into licensed operators’ market share.
According to the figures released by the Swedish Gaming Authority (Spelinspektionen) the share of licensed gambling in Sweden is between 85 and 87% while the rest is with the illegal operators. The figures represent all forms of gambling and not just online gambling.
“No one that has been paying attention to the political outbursts and the astronomical fines on licensed gambling companies can be surprised over this development,” BOS secretary-general Gustaf Hoffstedt said.
“My assessment is that the reduction is part of a trend. Unless the Government takes forceful action to protect its own reregulation the channelization is likely to decrease further.”