A Comprehensive Guide to Online Gambling in Sweden
Of all the Scandinavian countries, Sweden is perhaps the one with the biggest affinity with online gambling. If you want to find out about the laws and taxes surrounding online gambling in Sweden – plus much, much more – keep on reading!
Is Online Gambling Legal in Sweden?
In a nutshell, yes, online gambling is completely legal in Sweden. Despite a number of the biggest gambling companies coming from Sweden though, the government currently doesn’t grant licences to online gambling sites, instead allowing Svenska Spel to monopolise the industry. While private companies aren’t licenced in Sweden, it is completely legal for individuals to sign up with these offshore sites though – something that huge amounts of people do every day.
There are plans to modernise the Swedish online gambling industry and break the Svenska Spel monopoly, mainly due to pressure from the European Union. The Swedish government hopes to push these plans through by 2018, paving the way for many casinos to be licenced in the country.
Are Online Gambling Winnings Taxable?
When playing at Svenska Spel, there are no taxes on any profits made by a player. This all changes when players play at sites not regulated in Sweden though, as winners at these sites will have to pay a massive tax of 30% on their profits. Those winning huge prizes, such as some poker tournaments, could even have to pay tax that is as high as 50%. These taxes are some of the highest anywhere in the world, and are designed to encourage players not to participate in online gambling anywhere other than Svenska Spel.
How Swedish Players Make Deposits at Online Casinos
For Swedes, depositing at online casinos is easy. This is because all of the major depositing options are open to them, with the most popular being credit/debit card. Other options, such as Skrill and Neteller, are also especially popular, particularly amongst players who don’t want to share their banking details with an online casino. Whatever your preferred payment method is though, you’re likely to find it at online casinos open to Swedish players.
Many online casinos also offer players the chance to play using SEK. If this isn’t the case though, it is easy to convert the currency into something like EUR, USD or GBP though, all of which are used at the majority of online casinos.
The Best Software for Swedish Players
There are loads of great software providers offering their games to Swedish players, via the many different online casinos open to people in the country. Which software provider you choose really depends on your personal preferences, as they all have their strong points. Some of the more popularly used software comes from Microgaming though, who are the world-leaders in the industry, while software from NetEnt, BetSoft and Playtech are also really popular with Swedish players. The best way to discover the top software for you is to simply try out as many games as you can!