Lots of casino sites have been around since the early ’90s. Over the years, people who are into them have seen several come and go. However, in the past, there were no regulations to the sites, and any player anywhere in the world could play in any country that they want. As long as they have their cards on them and they’re connected to the web, then everything goes.
But many find the downsides of not having any regulations back in the day. There was no telling if the site where you are playing are offering you random games and generous prizes. Some people who delve further discover that there’s zero chance for them to win at all.
In some countries like Sweden, there were laws put into place, such as the Swedish Gaming Act that requires casinos to have at least a license. You can read more about this in sites such as Casino utan spelpaus.
The Government and Online Casinos
Instead of restricting the citizens and discouraging them from playing online, the authorities decided to regulate and produce a license for all the companies who would want to offer fair play to residents in countries such as Sweden. The permits can vary, and they can apply to bingo, poker, betting, and other gambling websites.
What you should look for as a player is to register on sites that can protect your personal information as well as your financial deposits. Other things that you need to demand is to play random games that will give you a fair chance of winning. The payouts should be fast, and you can request a withdrawal any time. They can also offer you several bonuses and promotions if they are legitimate.
These are just some of the things that you can benefit from when you sign up to a legitimate gambling site that has a license to operate in your country. Note that not all gambling commissions are strict with regulating and overseeing the sites, so you still need to use good judgment when signing up.
The bottom line here is that when you have the urge to play slot machines on a specific gambling platform for the first time, you need to make sure that they are appropriately licensed to operate. Some countries in the EU have firm and strict infrastructures put in place when it comes to regulations of online and land-based gambling venues.
Responsible Gambling
The law in countries such as Sweden states that responsible gambling should be the main focus of any operator. The operators should promote responsible marketing practices, including adding restrictions to the bonuses. It is important to note that there are online operators that can be taxed regardless of whether they are operating in Sweden or from overseas.
There are three main factors that the framework relies on. There are underlying advice, specifics, and directives that made it clear on what is expected when one is running a casino full-time. These are just some of the demands of the Swedish Authorities that operators need to meet:
1. The age requirement of all players should be at least 18. There’s a requirement to protect all vulnerable players.
2. The marketing should reflect realistic possibilities. The winning rate should be presented in such a way that it would not come across as misleading. All marketing efforts should be presented moderately.
3. Most operations that earn profits must pay a tax of at least 18%.
The government of Sweden sets out these basics and regulations for the people to have the following benefits:
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Sustainable and standard ground rules
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A smooth process of licensing
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Protection of the people
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Excellent security
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Neutrality when it comes to competition
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Tax revenues are secured
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A system composed of fines and sanctions that will punish those who violate the law
Common FAQs
Why regulate the market in Sweden?
This is to ensure that there are no monopolies in place. This is designed to protect the profits of AGT and Svenska Spel. This means that the consumers are protected, the federal revenues are secured, and the taxations in the market are justified. The regulation is for transparency purposes, equal opportunities to all state operators, player self-control, and foreign companies are now licensed in the country itself.
Can you still play on sites with no licenses in Sweden?
Yes. If you are a Swedish national and wishes to play on a platform that has no Swedish license, this is still possible. But note that the regulators can block the payment and site so it might take longer for your winnings to become available.
With this question, there’s the country’s dilemma to provide free will to its citizens and the desire to protect them from shady operators. There are suggestions which are taken into considerations now. These include suggesting to internet service providers to provide a pop-up screen informing the regulators that a player is trying to access an unlicensed site.
Can I be taxed with my winnings?
No. One of the advantages of playing at a licensed platform is that you can take home all your winnings tax-free. But there are reports and certain obligations that you need to do when you won from entities that were not licensed.
Do You Need to Have a BankID?
No. The new law doesn’t require you to have a BankID to withdraw or deposit your money. Read more about BankIDs here: http://eid.difi.no/en/how-activate-bankid-mobile. For people who previously used a BankID to play before the law was enacted in January 2019, you can check the system of your online platform and the information should still be there. If it’s not present, you may need to verify yourself. Some platforms can offer payouts immediately, especially if you are fully verified and has a BankID in place.
There are lots of FAQs that you can check on other sites for more information about the Swedish law and online gambling. The critical thing to remember now is that you should only play on licensed sites to lower your risk and ensure that you can have a fair chance of winning. Check the top legitimate casinos on other sites today and only sign up to a platform that you trust.