Swedish Online Gambling Trade Group Supports Stricter Lending Rules
The Swedish Online Gambling Trade Group (BOS) has expressed its backing for stricter lending rules within the internet gaming sector. These suggested measures are principally designed to enhance safeguards for individuals participating in online wagering.
Representing a substantial segment of licensed gaming providers in Sweden, BOS contends that these regulatory modifications will establish a more resilient consumer protection system tailored specifically for the gambling industry.
Crucial suggestions encompass prohibiting external promotion of gambling loans and instituting a nationwide debt registry in Sweden. Gustaf Hoffstedt, the Chief Executive of BOS, has conveyed his endorsement for all the propositions presented in the recent investigation, particularly those directly affecting the gaming sector.
One noteworthy suggestion entails broadening the current prohibition on credit within the Gambling Act to include outside lending entities. The inquiry also examined the feasibility of outlawing the utilization of credit cards for wagering. However, BOS concurs with the recommendation against this ban, asserting that it would be unfeasible and potentially stimulate the expansion of illicit gambling activities.
Another significant proposition involves the establishment of a debt and loan repository, referred to as the Skri Register. This repository would furnish lenders with more thorough knowledge of a borrower’s financial standing, empowering them to make more judicious lending determinations.
The Swedish Online Gambling Trade Group, also called BOS, has expressed its backing for allowing licensed gaming companies to utilize information from the nation’s self-exclusion database, Spelpaus.se. They contend that this access will aid operators in more effectively tackling financial crimes and fostering responsible gaming practices.
Nevertheless, BOS stresses the necessity of a comprehensive evaluation before granting this access. This evaluation should prioritize the safeguarding of consumers and individual confidentiality to guarantee equilibrium between these vital elements.
BOS has been quite outspoken regarding its position on anti-money laundering protocols. They maintain that breaches of these regulations should carry equivalent weight to gambling infractions. They further suggest that sanctions for these breaches should be determined based on a company’s overall gaming income.
Notably, BOS reveals that Sweden’s online gambling channeling rate, which reflects the proportion of online gambling activity occurring with licensed providers, currently stands at 77%. This figure falls short of the government’s 90% objective.
Moreover, BOS advises against a proposed elevation of the gambling levy from 18% to 22% of gross gaming earnings. They assert that this increase could adversely affect channeling, potentially resulting in a resurgence of the difficulties encountered prior to the restructuring of the Swedish gambling sector in 2019.
