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Online Casino Poker Big in Sweden

The Swedish government has recently announced its decision to permit state-owned online casino firm Svenska Spel to enter the online casino poker market. Valued at over $124 million dollars, the online casino industry in Sweden is booming, with poker being the country’s preferred online game. Svenska Spel, powered by Boss Media, is expected to gain a sizeable share of the online casino poker market, thereby generating valuable revenue for the Swedish government.

Swedish media sources have reported that the decision to allow Svenska Spel to join the online casino industry was based on the increased control the government will have over online casino gaming. Some authorities feared that a private company was more likely to be driven by the need for excessive profits. By permitting a state-owned online casino venture to proceed, politicians are more able to influence control and pressure upon the firm, and to monitor issues such as gambling addiction and under-age gambling in Sweden.

With this in mind, the two-year contract awarded to the online casino firm comes with a number of strings attached. A maximum limit for betting on the site will be set at $10,000 U.S. dollars per player, and advertising will be permitted in newspapers only. Despite the conditions, a spokesperson for the company has already predicted that at least one third of the Swedish online casino poker market will be playing at Svenska Spel within the first year.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.