After Gambling Regulation Overhaul, Sweden Takes Double In Tax Revenues Than Predicted

After Gambling Regulation Overhaul, Sweden Takes Double In Tax Revenues Than Predicted

Earlier this year Sweden introduced some major changes to its gambling industry through regulations which saw licenses awarded to several online gambling operators – 86 licenses to be precise.

With new licenses and revised tax obligations, the state gambling regulator predicted that it would gross about $100m in revenues. However, the figures posted reveal that the state has taken over $190m in tax revenues in the first six months to June 30.

Swedish gambling regulator, Spelinspektionen takes 18 percent of the gambling revenue from each of its licensees. It also takes the same percentage from Sweden’s state-owned gambling regulator Svenska Spel. Svenska Spel was also the gambling monopoly in the country until the market was opened up for online gambling operators.

The Skatteverket tax agency (STA) in its mid-year reports posted that the gambling tax taken so far was SEK1.84bn ($190.7m), which is more than double the initial forecasts.

Online gambling regulators seeking a license to operate in the Swedish market, have to pay SEK67m ($6.94m) for the license cost. On top of the license cost, there are a SEK57m ($5.90m) additional supervision fees.

Many gambling operators have been voicing their protest against this supervision fee.

Leave a Reply

Your email address will not be published. Required fields are marked *