The online gambling market has enjoyed exponential growth of late, with sports betting and virtual casino gameplay driving this trend.
In total, 2020 saw the Swedish gambling market deliver a total gross revenue of SEK 24.7 billion. What is more, sports betting in the region grew by 5.2% annually to reach SEK 3.66 billion, while the number of sports betting sites in Sweden continues to grow thanks to a progressive regulatory backdrop.
But just how legal is sports betting in Sweden, and how can you identify the best sports betting sites nationwide?
The Legality of Sports Betting in Sweden
Let’s start with the legality of sports betting in Sweden, which was officially legalized and regulated at a federal level back in 2002.
The agency responsible for this in its entirety was the government-backed Svenska Spel, which created a state-sponsored monopoly and prevented domestic and private sector operators from claiming a share of the marketplace.
However, this type of approach is widely at odds with the EU’s regulations on monopolies and unrestricted trade between member states, so it was no surprise when the European Commission intervened in 2013.
More specifically, the single bloc revealed that the decision of Sweden to blacklist EU-based sportsbooks from entering the market was illegal, with the government responding by allowing operators from fellow member states to target native customers.
Over time, the demand for online and mobile sports betting continued to increase, while the government in Sweden also began to deploy the tax revenues garnered through tax levies.
So, it agreed to cease the state-sponsored monopoly of the iGaming and sports betting market as part of the Swedish Gambling Act, which was enacted on January 1st, 2019 and established a regulatory model that could license private sector betting brands according to several strict criteria.
These were laid out and enforced by the newly created Swedish Gambling Authority, which continues to govern the marketplace to this day.
What to Bet on in Sweden
Swedish punters have a huge love of sport, with football one of the most popular and widely utilized betting markets in the region.
Swedes will have definitely been motivated to wager on the delayed European Championships, especially as the national side recently topped their group having drawn with Spain and comfortably beaten Slovakia and Poland.
Of course, the Swede’s agonizing, last-gasp defeat against Ukraine in the round of 16 will have dampened some of this enthusiasm, but the tournament will remain a huge source of revenue for many of the international operators active in Sweden.
Basketball is another hugely popular sport in Sweden, both from the perspective of participation and wagering. Ice hockey is also widely followed, with globally recognized platforms such as 888sport offering a particularly large selection of markets in this respect.
Tennis is also popular amongst Swedish punters, with the ongoing Wimbledon Championships offering multiple betting markets for bettors to enjoy at present.
Who are the Best Swedish Sportsbooks?
The range of international operators active in Sweden is impressive, with this providing exceptional value to punters across the board.
After all, market-leading betting brands like Bet365 are fully licensed and regulated by stellar agencies like the UK Gambling Commission, which means that they’re demonstrably fair, transparent, and capable of safeguarding financial transactions with a minimum 128-bit SSL encryption.
But who are the best operators? Well, much depends on your priorities and favorite sports as a punter, with Bet365 renowned for its generous welcome offers and innovative betting markets (especially across football and tennis).
Conversely, Betway is home to a particularly large selection of basketball markets, so this is ideal if you’re a huge fan of this particular sport.
Ultimately, the key is to compare licensed operators independently and across the metrics that are important to you, so that you can make a genuinely informed decision.