The Swedish Online Gambling Trade Organization (BOS) has signaled its endorsement of the Ministry of Justice’s recommendations designed to limit hazardous lending practices and safeguard consumers from immoderate indebtedness. These suggestions are especially pertinent to the internet gambling sector, where apprehensions regarding consumer susceptibility have surfaced.
BOS, a leading representative within the Swedish gambling sphere encompassing approximately 20 licensed providers, contends that the proposed modifications will substantially reinforce consumer safeguards.
Principal alterations encompass a prohibition on external promotion of gambling loans and the formation of a nationwide debt database in Sweden.
Gustaf Hoffstedt, BOS Secretary General, conveyed the association’s concurrence with all the suggestions outlined in the inquiry, notably those directly affecting the gambling sector.
One notable proposition centers on broadening the existing prohibition on credit provisions within the Gambling Act to encompass external lenders. This signifies that offering loans specifically designated for gambling pursuits would be rigorously forbidden.
The inquiry also examined the feasibility of prohibiting the utilization of credit cards for gambling. Nevertheless, BOS backs the suggestion to dismiss this ban, asserting that it would be ineffectual and potentially result in a surge in unlicensed operators.
Another crucial proposition entails the implementation of a debt and credit repository termed “Skri register.” This repository aspires to furnish lenders with a more comprehensive understanding of a borrower’s financial standing, empowering them to make more prudent lending determinations.
Gustaf Hoffstedt, the Chief Executive of the Swedish Gaming Industry Association (BOS), has entered the discussion regarding modifications to Sweden’s Anti-Money Laundering Law. Hoffstedt highlighted that authorized gaming providers should have the ability to view information from the self-ban database, called “Spelpaus,” to more effectively address money laundering. Nevertheless, he also stressed the importance of a comprehensive analysis to guarantee that broadened access does not infringe upon user confidentiality.
The Swedish Gaming Industry Association endorses the suggested revisions to categorize money laundering infractions equally with gambling violations. They further propose that sanctions for breaching anti-money laundering rules should be connected to a firm’s overall gaming income.
The association voiced apprehensions about the suggestion to raise gambling levies from 18% to 22% of gross gaming earnings. They contend that this could adversely affect the present channeling proportion for online gaming in Sweden, which stands at 77%, still falling short of the government’s 90% objective. This could result in a reappearance of the difficulties encountered prior to the restructuring of the Swedish market in 2019.
admin