VIDEOSLOTS HIT WITH WEEKLY FINE BY SWEDISH GAMBLING AUTHORITY

Online casino operator Videoslots has been hit with a weekly fine by the Swedish Gambling Authority (SGA) for violating the country’s “temporary” deposit cap. 

According to the SGA, Videoslots has breached the controversial SEK 5,000 (approx. €496) weekly deposit limit for online casinos – which was introduced under the premise of being a purely temporary measure in response to the COVID-19 crisis. 

SGA investigators found that Videoslots players were able to arguably circumvent the deposit limit by cancelling up to two-month’s worth of withdrawals. In response, Videoslots has said that it believes such a process has “nothing to do with the requirements on deposit limits.” 

Explaining its reasoning, the SGA stated: 

“With Videoslots’ interpretation of the provision, it would be sufficient for a licensee to state for the players that you have a deposit limit of SEK 5,000 per week for commercial online gaming, no matter how much money can be deposited in practice and in different ways and be used for games on commercial online games. The Gaming Inspectorate does not share it the assessment.”

Videoslots has been ordered to “end the violation” and ensure players cannot deposit more than SEK 5,000 per week, in any way. Until the operator complies, it is being fined SEK 250,000 (approx. €24,825) per week, starting from the date that the company was notified of the decision.

AYO.NEWS says:

The Swedish online gambling market, once so promising, has descended into nothing short of a farce. With contradictions and confusion from regulators and inconsistent enforcement of highly questionable rules. 

Looking at the big picture, with the COVID crisis set to continue for the foreseeable future and other comparable gambling jurisdictions, like the UK for example, reporting no significant increase in problem gambling, it must finally be clear to everyone that the “temporary” Swedish restrictions are nothing of the sort, and were always politically motivated and intended to be permanent. 

To make matters even worse for Swedish operators, it’s not just the SGA they have to worry about now. Sweden’s consumer ombudsman, Konsumentverket, has also started dishing out fines for misleading wagering requirements and offer terms. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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