Sweden’s gaming tax revenue doubles expectations
The local tax agency revealed Sweden is getting from gaming twice the money it forecasted before it regulated the online gaming market.
Sweden.- The recently regulated online gaming market in Sweden has brought better results than expected. Sweden’s Skatteverket tax agency (STA) revealed that the money turned to state coffers is way more than expected.
Sweden’s taxman revealed online gaming tax money reached €172 million, twice what they’ve forecasted. So far, there are 86 licenced companies, who pay an 18% tax on gaming revenue. They have €6.2 million for licences and an additional €5.3 million in supervision fees.
First quarter results
Spelinspektionen, the gambling regulator from Sweden, has reported the financial results of the first quarter of the year. The gaming market in Sweden totalled €560 million during the first three-month period of 2019.
The information comes from data from the Tax Agency of Sweden. It is not fully comparable to 1Q18, as Sweden debuted its newly regulated market on January 1, 2019.
The regulator said that at the end of the first quarter of the current year, 29,975 people were suspended through the self-exclusion registry spelpaus.se. In early May, that number had already increased to under 33,000 people.
Furthermore, at the beginning of the month, 78 companies had been granted a total of 123 licenses to operate in Sweden’s gaming market.
During the three-month period ended March 31, online gaming totalled €298 million, while state lottery and gaming machines reported €130.6 million. Moreover, casino games net sales increased to €21.8 million and games for charitable purposed and national lotteries amounted €78.1 million.
