Great Results for Government Monopoly
Although the European Union demands that Sweden will open its online gambling market to competition, the Swedish government has many reasons not to do so. In fact, they have $215 million reasons as Svenske Spel, the Swedish gambling monopoly, generated some $215 million in revenue during the third quarter for the year. The gambling company also informed the industry that gambling via the internet, namely poker, has grown rapidly during the period. It seems that more people are playing online than ever. Why would the Swedish government want to hand over such a prosperous enterprise?
The gambling company’s CEO said that online casino fans choose his company’s platform for the high level of security that it offers. Players are looking for the most secure way to play online and you can’t get more secure than a with a government monopoly. “The positive pattern is continuing and we expect a record dividend for sports this year,” he said. Svenske Spel has been doing well in all areas as bingo playing is on the rise and casino games are well popular. However, this doesn’t mean that the company is doing something special.
The European Union has asked Sweden to follow the Union’s code and allow free competition in the local gambling market. The wonderful figures indicate that people are turning to the web for their gambling, and more firms are needed. As the competition grows, better service will be available as different companies will battle for a segment of the market. Online gambling in Sweden seems to be flourishing and the people of the country will surely be glad if they have new gambling options. Private companies should learn from the government monopoly how to offer quality online gambling – and then make it better.