In light of recent planned changes in the iGaming sector in Sweden, LeoVegas sent a letter to the Ministry of Finance earlier in May to urge better player protection measures, but also advise authorities to consider market realities and how to best introduce sustainable gaming mechanisms.
LeoVegas Urges Ministry of Finance to Consider Laxer Measures
Earlier in May, LeoVegas wrote a letter to Sweden’s Ministry of Finance prompting the institution to introduce stronger player protection measures in light of the unfolding COVID-19 outbreak.
LeoVegas asked of the Ministry to consider reviewing marketplace limitations and raised a red flag about the black market as an estimated one in four krona was wagered offshore, joining other operators in similar calls. In the letter, LeoVegas had this to say:
“The re-regulation of the Swedish gaming market has led to increased state control. At the same time, gaming at unlicensed operators is a push of a button. The incentive to engage in unlicensed gambling is significant given the strict rules that are pushing the legal gaming market.”
LeoVegas has reiterated an industry-wide position that players ought to be protected by being granted a safe environment in which they can play, rather than being restricted to the point where channelization decreases and some consumers are pushed offshore.
In LeoVegas’ words, reducing channeling undermines regulatory efforts as it sees some consumers seek alternatives. According to Spelinspektionen, the number of players gambling online in Sweden is also falling through, with some notable increases in black market operations.
Long-Term Decisions to Guide the Industry
LeoVegas acknowledged the need for player protection measures, but emphasized on a long-term market rules that can create a stable and beneficial environment instead.
The company expressed concerns that the measures discussed earlier in May were focused on the licensed operator to the point that they would face new challenges and struggle to retain customers who simply opt out of the market.
“New restrictions mean that more people are turning to the black market and the government’s proposed measures therefore risk putting the commendable consumer protection completely out of the way and having the opposite effect to what the government wanted and intended,” Leo Vegas added.
Today, LeoVegas remains s one of the most trusted names in iGaming both in Sweden and beyond. The brand has signed up content partnerships with over 40 different gaming suppliers, making it a well-rounded choice for a gaming venue.
Operating in multiple legal markets, LeoVegas has a unique insight into how the iGaming industry operates. The brand is trusted by several of the highest authorities in gaming and that covers everything you need to know about LeoVegas, as it testifies to the brand’s quality. Spelinspektionen, Malta Gaming Authority, and the UK Gambling Commission are among the parties to have put their trust in the brand.