Sweden Considers Credit Card Ban for Online Gambling Amidst Industry Pushback

Swedens administration is encountering resistance from internet gaming businesses regarding their suggested prohibition on using credit for wagering. The Treasury Department asserts this action is crucial to safeguard individuals from debt, citing the UK’s comparable 2020 ban as a positive precedent. Nevertheless, the Swedish online gaming trade group (BOS) dissents. Although they have traditionally backed responsible gaming initiatives, they contend that a complete credit card prohibition is excessive. They posit that concentrating on bolstering credit guidelines and addressing the fundamental reasons for compulsive gambling would be more impactful.

Its deeply concerning to witness the Swedish administration ignore its own specialists and suggest a prohibition on credit cards for wagering. This completely opposes their own findings! It’s even more baffling when you factor in that they haven’t imposed comparable limitations on liquor, a product solely vended by a state-controlled monopoly in Sweden,” denounced Gustaf Hoffstedt, Chief Administrator of BOS.

He continued, “This action merely gives an edge to the unsupervised gaming sector, which already holds an astounding 41% portion. By 2024, we could witness these unregulated platforms eclipse licensed providers and control the whole market. The government requires a significant dose of realism. They need to support their licensed operators and prioritize the well-being of consumers.”

Hoffstedt, a prominent champion for the Swedish gaming industry, has been disapproving of the government’s strategy in the past. In the previous year, he was featured on The Huddle, where he censured their choice to elevate gaming levies from 18% to 22%.