Welcome to Sweden: How new casinos are redefining the bonus game in 2025

In Sweden, like many other mature igaming markets worldwide, regulatory scrutiny is an inevitable consequence of a burgeoning sector.

Such oversight creates significant challenges for operators though.

From fines levied forshortcomings in player duty of care to increasingly tough sanctions related to anti-money laundering failings, operators of all sizes have to tread carefully to avoid the wrath of national gaming industry watchdog Spelinspektionen.

As the regulatory landscape continues to evolve in Sweden, there are further hurdles on the horizon for licensed platforms. Proposals have been drafted to expand restrictions on gambling with credit, while additional resources are being demanded to promote responsible gambling. 

Bonus restrictions

However, few regulations have caused as much debate in Swedish gambling as the one related to the use of bonuses.

Operators are only allowed to offer customers one bonus each, which can only be available upon the sign-up stage. Regulated platforms that have stepped out of line have been hit with eye-watering fines.

Beyond the regulatory sanctions, though, the knock-on impact on customer behaviour has been significant, with the limits on bonus offers having been subject to criticism from both political actors and within industry. In fact, Swedes have listed bonuses as the main reason for using unlicensed platforms, leading to the growth of a substantial grey market in the country. 

Creative solutions

Regulated operators have therefore been forced to find alternative and creative ways to engage players – and igaming bonus comparison platforms like Casinobonusar.nu are playing an increasingly important role.

Casinobonusar’s goal is to bring clarity to players who are trying to navigate the cluttered igaming landscape in Sweden.

Having launched in 2013 as an igaming guide for Swedish players, Casinobonusar is designed to help players by comparing deposit bonuses and free spins.

As Christian Lowe, the COO of Raketech acknowledges, “a lot has changed” since the platform’s launch more than 12 years ago, with the introduction of bonus restrictions being a key development.

“However, this didn’t change the fact that players still need help understanding bonuses and the terms that come with them,” Lowe explains. “We continue to serve the same fundamental purpose today as we did back in 2013 – helping players make informed decisions about what the different regulated casinos offer.”

Regulatory transformation

Sweden ushered in major gambling reforms in 2019, liberalising its online gaming market and establishing a framework for taxation and licensing. However, even the authorities concede that some of the player protection results have been mixed and, according to a recent Spelinspektionen survey, up to 72% of Swedish gamblers are unaware which products are licensed versus unregulated.

Many believe such issues have been exacerbated the regulatory shift on bonuses six-and-a-half years ago.

While the pre-regulation era allowed multiple bonuses and promotions, the post-regulation landscape led to an immediate tightening of the rules, with the bonus restrictions being a “game-changer for the entire market”, Lowe adds.

Indeed, with fewer bonus deals to list on the platform, Casinobonusar itself has been forced to adapt – turning more to detailed reviews of igaming brands, expert insights and a free-to-play slots library. Furthermore, the comparison platform has had to comply with increasingly strict rules on gambling-related marketing – another legacy of the market opening up back in 2019.

Key differentiators

Referring to the restrictions on bonuses, Lowe adds: “This regulation has fundamentally changed how operators compete in Sweden. Rather than relying on frequent promotions and campaigns to attract and retain players, operators must now focus on other key differentiators like brand partnerships, user experience and exceptional customer service quality.

“The overall online casino experience has definitely been impacted by this change. While it creates fairer competition and encourages sustainable business practices, it has also made the market less dynamic from a player engagement perspective.

“The challenge now is finding that balance between regulatory compliance and maintaining an exciting gaming environment that keeps players within the licensed market.”

Optimising bonuses

Embracing the challenge of creating engaging regulated igaming environments for players is one part of the task facing regulated operators. The second part is to ensure the bonuses they do use are optimised to drive engagement, returns and, ultimately, loyalty.

With this in mind, the free spins-win real cash offers can be particularly enticing.

“The most attractive welcome bonuses are deposit bonuses combined with free spins that have little to no wagering requirements, no game restrictions and no maximum win caps,” Lowe says.

“Players want transparency and genuine value, not complicated terms. What’s particularly popular in Sweden are ‘Cash Spins’ or no-wager free spins where winnings are immediately withdrawable.”

Strong market

Despite the challenges, Sweden’s reputation as a thriving, regulated market is not in question.

Total gambling revenue in Sweden last year reached SEK27.85 billion (£2.07 billion/€2.49 billion/$2.62 billion), surpassing the SEK27.13 billion reported in 2023.

The 2.65% year-on-year rise was largely driven by the growth of online gambling, which generated SEK17.84 billion to account for nearly two-thirds of the total revenue – an increase of 5% for the vertical in comparison with 2023.

As a result, the Swedish igaming market remains one of Europe’s strongest regulated markets. The regulatory framework continues to evolve, with more than 560 licence-holders now contributing a 22% tax on gross gaming revenue, up from the original 18%.

Meanwhile, responsible gambling measures are gaining traction, with over 120,000 people self-excluded through the Spelpaus.se scheme. More broadly, public participation in the sector remains stable, with 71% of Swedish adults having gambled in the past year.

However, as Lowe acknowledges, “the grey market creates real challenges” for licensed platforms that have significant hurdles in their path as they manage operator licences.

The waters are muddied further by the fact that the majority of the most popular illegal gambling sites actually use the same platform providers as licensed operators, according to research published late last year.

Lowe adds: “The Swedish Gambling Authority is monitoring around 1,100 unlicensed sites, which shows the scale we’re dealing with. For licensed operators, it is frustrating because these unlicensed sites can offer multiple bonuses and ongoing promotions that they can’t match due to regulations. They’re competing without the same restrictions licensed operators have to follow.

“The positive is that most Swedish players still choose licensed sites, showing trust in the regulated market. But the grey market definitely pressures regulators to make the licensed market more competitive while maintaining player protection.”

Setting new benchmarks

Whilst Casinobonusar has navigated the regulatory headwinds successfully so far, the platform’s decision-makers are well aware that continuous development is needed to set new benchmarks and remain relevant to players whilst remaining compliant with the relevant authorities.

A major website relaunch this year will focus on enhancing the user experience – by optimising the responsiveness of the platform and providing increasingly clear, reliable and trustworthy information for Swedish gamblers.

Furthermore, there is also an acknowledgement that regulations in Sweden will continue to evolve. This will require a nimble and flexible approach from all brands and platforms in the space – including Casinobonusar.