Sweden Proposes Increased Funding for Gambling Supervision

In order to strengthen its grip over the gambling industry, the Swedish government has proposed increasing the budgets of Spelinspektionen and Finansinspektionen for the year 2024. This project aims to contribute SEK 10.8 million (about $970,000) to the gaming authority to supplement its resources.

The government plans to give Spelinspektionen SEK 15.6 million ($1.4 million) in 2025 and SEK 18.5 million ($1.66 million) in 2026, reflecting a long-term commitment to improving regulatory capacity. Finansinspektionen, on the other hand, is set to get SEK 4.5 million ($400,000) in 2024 under the planned budget.

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Recognizing the importance of cooperation between Spelinspektionen and Finansinspektionen, the government underscores that the efficacy of its actions against gambling-related harm hinges on their collaboration.

Sweden recognizes that issues such as illicit gambling offerings and the manipulation of professional sports events provide fertile ground for criminal networks. Moreover, individuals engaging with the black market face elevated risks of encountering fraud or developing problematic gambling behaviors.

In response, Sweden is determined to combat fraud by imposing strict measures, including banning illegal operators from operating within the country and countering match-fixing. The nation’s efforts align with the goals of the Macolin Convention, which seeks to tackle sports-related corruption and manipulation.

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The additional funding allocated to Spelinspektionen is expected to bolster its supervisory prowess. Importantly, collaboration with Finansinspektionen will open new avenues for the gambling regulator, enabling the prevention of financial transactions involving illegal gambling entities, as highlighted by Financial Markets Minister Niklas Wykman.

Increased financial support for Finansinspektionen serves as an incentive for greater cooperation between the two regulatory bodies. This collaboration will empower them to pool resources and collectively thwart financial transactions linked to illegal gambling operations.

Addressing the looming threat of match-fixing in professional sports, Sweden’s Sports Minister, Jakob Forssmed, believes that the additional funding will equip Spelinspektionen to shield Swedish sports from the perils of illicit activities and match manipulation.

The post Sweden Proposes Increased Funding for Gambling Supervision appeared first on iGaming.org.

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