Sweden’s Gambling Market Shows Modest Q3 Growth

Sweden’s gambling industry has grown a modest 0.5% in the third quarter compared to Q3 2024, with total revenue reaching the SEK6.71 billion ($709 million) mark. 

Regulator Spelinspektionen, which announced it will supervise Svenska Spel’s brick-and-mortar operations before banning mystery box operator CGG Entertainment at the start of the month, explained the slight rise was primarily triggered by the online gaming sector. 

At the same time, revenue from lotteries and land-based slots dropped.

Online Up, Traditional Down

Online gambling remained the main engine of growth, generating SEK4.51 billion ($477 million), a 3.5% increase year-on-year. Sports betting also contributed to this growth despite the absence of major events like Euro 2024 and the Paris 2024 Olympics in the same quarter last year.

Traditional forms of gambling didn’t record similar success, with revenue from Svenska Spel’s state lottery and slot machines going down 7.2% to SEK1.26 billion ($133 million). Other lotteries for public benefit rose slightly to SEK822 million ($87 million). 

Bingo revenue held steady at SEK48 million ($5 million). Commercial land-based gaming, such as restaurant casinos, brought in SEK67 million ($7 million), up 3.1%, but there was no land-based casino revenue following the closure of the last Casino Cosmopol in April. 

Compared to the previous quarter, total revenue fell 4.4% to SEK7.02 billion ($742 million).

Svenska Spel itself reported net gaming revenue of SEK1.87 billion ($115 million) for the three months ending September 30, a 7% increase from the same period last year. The growth came mainly from its Tur lottery and Sport & Casino divisions, offsetting declines in its Vegas gaming machines and the closure of its last land-based casino.

Upcoming Credit Gambling Ban

These figures come as Sweden prepares to introduce a broader ban on gambling with credit, starting April 1, 2026. 

Under the new rules, both licensed operators and gambling agents will be prohibited from processing transactions involving any form of credit, including loan agreements or bank overdrafts, if they are used for gambling. 

Licensees and agents will need to focus on taking preemptive measures to stop players from gambling on credit by blocking credit card payments and eliminating third-party lender promotions. 

Some exceptions may, however, be in place, with special emphasis on operators running gambling for public benefit, like charity lotteries.In February, the government announced it would review the Gambling Act following the industry’s 2024 financial report.