The UK Gambling Commission (UKGC) has signed a memorandum of understanding with the Swedish gambling regulator, Spelinspektionen.
Following the agreement, the two gambling regulatory bodies will collaborate to ensure better implementation of regulatory provisions.
Commenting on the agreement, UK Gambling Commission chief executive Neil McArthur explained: “We have excellent relations with other gambling regulators from across the world and our new link up with the Swedish Gambling Authority will give more opportunities to share good practice on a whole host of regulatory issues, cooperate closely and take shared action where appropriate.”
The Director-General of Spelinspektonen, Camilla Rosenberg said: “This is an important agreement for us. We have a common interest in many areas. By opening the communication channels between the authorities we become stronger in our supervisory activities.
“This is the beginning of broad and long-term cooperation. Earlier this year we have entered an MoU with Malta Gaming Authority and Gibraltar Gambling Division.”
Both the UKGC and Spelinspektionen will work together to tackle issues such as money laundering, gambling addiction and more.
While the increase in gambling addiction has been a cause of concern for gambling regulators across Europe, the latest report from the UK Gambling Commission finds that there has been a 3 percent drop in gambling participation among young people. The UKGC’s 2019 Young People and Gambling survey found that 11 percent of 11-16-year-olds have gambled in the past seven days with their own money.
The research commissioned by the gambling regulator was carried out by Ipsos MORI. The study finds that gambling participation amongst young people has declined by 3 percent when compared with the 2018 results.