Betway to join Swedish online gambling body
Gambling operator Betway is to become a member of Branschföreningen för Onlinespel (BOS), the trade association for online gaming in Sweden.
Betway holds a licence to operate online casino and sports betting in Sweden and has been active in the country’s regulated market since its opening earlier this year.
However, Swedish regulator Spelinspektionen in May sanctioned Betway for breaching regulations related to bonus offers and ordered the operator to pay SEK5m (£402,582/€467331/$515,706). Betway was also warned about its future conduct.
BOS secretary general Gustaf Hoffstedt said that Betway’s membership with the association will help the operator ensure it is running in line with all of the new regulations in the country.
“Betway fits well into our profile of gaming companies that put long-term vision, consumer protection and a modern gaming regulation high on the agenda,” Hoffstedt said.
“Re-regulation has put operators under severe pressure with uncertainty about existing and possibly future regulation. For example, if today’s game objects in sports betting will be allowed in the licensing system, which is a necessity to fight match-fixing successfully.
“The online gaming industry needs to speak with a strong voice, and with Betway's invasion, BOS's voice is further strengthened.”
BOS also counts the likes of Mr Green, Kindred, Betsson, bet365, LeoVegas, Scientific Games and GVC Holdings among its members.
Betway’s decision to join BOS comes after the association this week hit out at the Swedish government’s approach to illegal gambling activities, saying imposing certain restrictions on licensed operators will allow illegal sites to increase their market share.
Figures released by the Spelinspektionen this week showed the share of licensed gambling in Sweden is between 85 and 87%, with the remaining share taken up by the black and grey market.
BOS said this is below Spelinspektionen’s previous estimate, and also lower than the government’s channelisation target that at least 90% of gambling in Sweden takes place on licensed platforms.