{"id":254,"date":"2024-06-26T22:36:05","date_gmt":"2024-06-26T19:36:05","guid":{"rendered":"https:\/\/cryptoleopromocode.icu\/2024\/06\/26\/swedish-gambling-promotional-spending-hits-seven-year-low-in-2022\/"},"modified":"2024-06-26T22:36:05","modified_gmt":"2024-06-26T19:36:05","slug":"swedish-gambling-promotional-spending-hits-seven-year-low-in-2022","status":"publish","type":"post","link":"https:\/\/cryptoleopromocode.icu\/2024\/06\/26\/swedish-gambling-promotional-spending-hits-seven-year-low-in-2022\/","title":{"rendered":"Swedish Gambling Promotional Spending Hits Seven-Year Low in 2022"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/-3k7MkdpThw\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Conventional wagering promotional outlays in Sweden plummeted to their nadir in seven years during 2022.<\/p>\n<p>Betting firms expended a combined 3.4 billion Swedish kronor (roughly \u00a3244.6 million\/\u20ac286.3 million\/$311.1 million) on conventional promotional efforts in Sweden in 2022, representing a 15% diminution from the preceding year.<\/p>\n<p>This also marks the most meager expenditure since data was initially disseminated in 2016, as per figures unveiled by the regulatory body Spelinspektionen. The aggregate spending in 2022 also falls significantly short of the zenith of 7.3 billion Swedish kronor attained in 2018.<\/p>\n<p>Sweden witnessed two successive years of decline in 2019 and 2020, with spending reaching 5.7 billion Swedish kronor and 3.7 billion Swedish kronor respectively. Spending experienced a slight uptick in 2021 but plummeted once more last year.<\/p>\n<p>&#8220;Conventional&#8221; promotional endeavors<\/p>\n<p>Spelinspektionen underscores that the data reflects total promotional investment, signifying that it does not encompass discounts. The data solely pertains to &#8220;conventional&#8221; media, encompassing print, television, radio, and outdoor advertising. This also encompasses certain digital assets.<\/p>\n<p>However, the data does not encompass advertising on digital media such as social networks, keyword advertising, and online video.<\/p>\n<p>A disaggregation of promotional spending in 2022 reveals that the majority (30%) was concentrated on casinos, a significant portion of which were for online casinos. <\/p>\n<p>Wagering on athletic events, excluding equestrian races, closely trailed with a 28% share of promotional expenditures in the preceding year.<\/p>\n<p>Roughly 26% of spending was allocated to lottery-style games, 12% to equestrian racing betting, and 4% to bingo, primarily conducted online.<\/p>\n<p>**Market Oversight**<\/p>\n<p>The consistent decline in conventional promotional spending since 2018 is associated with the revival of the Swedish regulated market. The new market officially commenced on January 1, 2019, when numerous unlicensed entities exited the nation.<\/p>\n<p>Following the departure of a significant number of brands from Sweden, coupled with the Swedish Gambling Authority&#8217;s suppression of unauthorized activities, promotional spending diminished. This pattern persisted over the subsequent two years as focus shifted towards regulated operations.<\/p>\n<p>However, the reduction in conventional promotional spending could also be attributed, in part, to a transition towards digital marketing. As more operators utilize digital platforms such as social media to engage with consumers, they are allocating less to conventional media advertising.<\/p>\n<p>Digital advertising is often more cost-effective than traditional platforms and allows brands to target specific groups of consumers. It also enables operators to post direct links to their websites and platforms, allowing players to swiftly access betting services.<\/p>\n<p>**Concerns Regarding Channelization**<\/p>\n<p>While Sweden&#8217;s gambling regulation has undoubtedly aided in addressing the issue of unauthorized gambling, as well as the marketing of such gambling, there remain concerns regarding the country&#8217;s channelization issues. <\/p>\n<p>In the past month, the Swedish online gaming trade group (BOS) published a study indicating that the regulation percentage of the Swedish online gaming market is only 77%. BOS expressed worry about this, labeling the figure &#8220;disturbing&#8221; and demanding action.<\/p>\n<p>Sweden&#8217;s regulatory objective &#8211; the percentage of authorized gaming products they aim to have in the market &#8211; is currently set at 90%.<\/p>\n<p>BOS General Secretary Gustav Hofstede emphasized the severity of the low regulation rate.<\/p>\n<p>&#8220;There is no question that Sweden&#8217;s licensing system is facing significant challenges,&#8221; he stated. &#8220;The government has invested considerable resources in compelling licensed gaming companies to implement certain measures, but these measures have not been embraced by gambling consumers.&#8221;<\/p>\n<p>Spelinspektionen receives expanded regulatory authority<br \/>\nJust before the study was released, the Swedish government declared a series of new measures to assist Spelinspektionen in cracking down on unlawful gambling activities.<\/p>\n<p>These modifications primarily involve payment providers and Spelinspektionen&#8217;s regulatory authority in this area.<\/p>\n<p>Payment providers now need to provide information to Spelinspektionen, including details on whether their systems are being used to process payments to unauthorized operators in Sweden.<\/p>\n<p>Earlier this month, Spelinspektionen began charging fees to supplier license holders. Starting July 1, Spelinspektionen will charge a fixed fee to organizations holding licenses to provide gambling software to operators in Sweden. <\/p>\n<p>Supervisory bodies are demanding that businesses pay a distinct charge for every permit they possess, unless they are granted a particular waiver.<\/p>\n<p>Moreover, Swedish legislators declared last month that they would examine a suggestion to boost penalties for gaming operators who breach the nation&#8217;s anti-money laundering regulations.<\/p>\n<p>The proposal would adjust the highest possible amount of fines for breaches of gambling regulations.<\/p>\n<p>At present, the maximum penalty amount that operators can be penalized for violating anti-money laundering laws is considerably less than the penalty amount for breaking gambling laws. The memo asserts that this scenario is &#8220;unsatisfactory&#8221; because in numerous instances, infringements of anti-money laundering laws can be deemed more severe than violations of gambling laws.<\/p>\n<p>Sign up for the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Conventional wagering promotional outlays in Sweden plummeted to their nadir in seven years during 2022. Betting firms expended a combined 3.4 billion Swedish kronor (roughly \u00a3244.6 million\/\u20ac286.3 million\/$311.1 million) on conventional promotional efforts in Sweden in 2022, representing a 15% diminution from the preceding year. This also marks the most meager expenditure since data was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Swedish Betting Promo Spending Hits 7-Year Low<\/title>\n<meta name=\"description\" content=\"Betting companies in Sweden slashed promotional spending in 2022, reaching the lowest point in seven years. 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