Sweden to Expand Credit Ban with New Proposal
The Swedish government has announced its plan to expand the country's existing ban on gambling with credit. Although the Swedish Gambling Act currently prohibits licensed operators from allowing credit betting, the government contends that more stringent measures are needed to ensure a safer betting environment.
LISTEN TO THIS ARTICLE:State officials stated that current regulations fall short in protecting plans, as the existing ban only covered credit from licensees, leaving other forms of credit unregulated. As a result of this limited scope, the government observed a direct connection between problem gambling and over-indebtedness.
Under the proposed law, licensed operators and gambling agents would be prohibited from offering credit-based gambling, including entering into credit agreements with third-party providers. Operators will also be required to reject bets if they know the player is using borrowed funds or credit to place the wager.
Furthermore, operators would be banned from accepting credit card payments for gambling transactions or partnering with credit providers that offer credit options for online gambling activities.
The proposal would also require licensees and gambling agents to implement measures to prevent credit-based gambling. The government emphasized that these measures should be simple, budget-friendly, and not require new technology.
Certain exemptions may apply to the new regulations, including for specific lotteries that fund good causes and are not politically affiliated. However, there will be measures in place to limit the use of credit, and Spelinspektionen, the gaming regulator, will be in charge of administering the exemptions.
The legislation would come into effect on April 1, 2026, pending necessary approvals.
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Not the First Attempt
Sweden has a history of attempting to tighten credit gambling regulations. Last February, the government proposed similar legislation focusing on external credit sources.
Spelinspektionen welcomed the measure but sought clarification on some aspects, including the definition of 'credit'." On the other hand, Sweden's online gaming trade association opposed the proposal and urged the government to revise its strategy.
The trade body suggested that card issuers and not operators should be held accountable for preventing credit card payments if the ban is implemented. They said, at the time, that the proposed restrictions would ultimately drive consumers to unregulated platforms, exposing them to greater risks.
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