Under the Swedish government’s proposals, gambling operators will no longer be allowed to promote third-party sources of credit.
Sweden’s Gambling Act already prohibits operators from offering credit to consumers to gamble. However, some businesses had instead been promoting third-party lenders willing to offer the service.
The ministry plans to establish a credit and debt register called the Skri Register. This recommendation stems from an investigation into excessive consumer debt, with the aim of tackling the issue and implementing new laws around marketing and credit checks.
The licensed gambling companies support these proposals in order to prevent consumers from spending more money than they can afford and to ensure gambling remains a safe and secure form of entertainment.
The report considered but did not recommend banning the use of credit cards in gambling, due to the complexities of the current payments landscape and the potential negative impact on the gambling market.
The government’s measure to ban the promotion of third-party credit sources is not expected to affect the use of credit cards for payment, as credit card users already undergo a credit check when gambling.
The establishment of a single debt and credit register called the Skri Register would improve lenders’ assessment of borrowers’ financial positions and assist licensed gambling companies in their obligation to combat money laundering and the financing of terrorists.
