Swedish iGaming Revenue Increases in Q3 2020 Despite Deposit Cap
The Swedish iGaming market has seen a marginal increase in revenue during the third quarter of 2020.
Swedish gambling regulator Spelinspektionen has published the statistics depicting that the Swedish gambling market generated over SEK6 billion in Q3 2020, an increase of 1.3% from the same period in 2019.
Net sales from commercial online gaming and betting have shown growth from the second quarter to the third quarter of 2020, increasing by 2.19%, and exceeding values in the first quarter of 2020. This amounts to a 5.8% increase year-on-year to SEK3.69bn for 2020 so far.
This notably comes after the controversial SEK5000 casino deposit cap on online games set to last until June 2021, drawing criticism from operator association Branscheforenigen för Onlinespel (BOS) and the International Betting Integrity Association (IBIA).
Sweden’s state-run gambling operator Svenska Spel, owner of the Casino Cosmopol, saw no sales for both the second and third quarters of 2020 following close downs due to the pandemic. Nonetheless, sales from Svenska Spel’s lottery and slot machine operations had a great third quarter, rising 13.9% from the previous quarter and 7.7% from 2019.