Sweden’s gambling authority, Spelinspektionen, has released its latest financial report revealing that licensed gambling operators generated SEK 7.1 billion ($686.5 million/€633 million) in Q4 of 2023.Online gambling was the market leader with 62.7% of all 2023 gambling revenues
According to the report this represents a 5.9% increase on the previous quarter, but a 1.3% decrease on the corresponding reporting period in 2022. Q4 was the most successful quarter of the year by revenues.
This brings the total revenue figure for the calendar year 2023 to SEK 27.1 billion ($2.6 billion/€2.4 million), decrease of just over 1% compared to 2022.
Online Gambling
Commercial online gambling including both online casino gaming and sports betting providers were the market leaders with just under SEK 4.4 billion ($425.6 million/€392.3 million) in Q4, a slight increase on Q4 2022’s figure. The yearly total for 2023 came to SEK 17 billion ($1.6 billion/€1.5 million) in combined revenues. This marked a slight drop 0.6% when compared to the previous year. In 2023, online gambling accounted for 62.7% of all revenues in the industry.
In-Person Gambling
State lottery and in-person slot games generated SEK 1.4 billion ($135.4 million/€124.8 million) in revenue for the quarter, down by 17.1% year-on-year. This brings the yearly total to SEK 5.5 billion ($532.1 million/€490.6 million), a decrease of 3.6% compared to 2022.
State casino gambling through Casino Cosmopol generated revenues of SEK 92 million ($8.9 million/€8.2 million) in Q4 2023, a decrease of 33.8% compared to Q4 2022. The yearly total for 2023 was SEK 475 million ($45.9 million/€42.3 million), down by 12.8% compared to 2022.
The report also reveals that by the end of Q4, approximately 104,000 people had self-excluded from gambling through the national self-exclusion program Spelpaus.se. This was up by 5% compared to the previous quarter.
Gambling industry journalist with a background in online poker and trading. Covering the regulated U.S Sports industry and the exciting world of online poker.
In 2023, the Swedish gambling industry experienced a significant increase in revenue, surpassing SEK 27.1 billion. This growth can be attributed to several factors, including the increasing popularity of online gambling platforms and the expansion of the market with new regulations.
One of the key drivers of this growth is the rise of online gambling in Sweden. With the advancement of technology and the widespread availability of smartphones and high-speed internet, more and more people are turning to online casinos and betting sites for their entertainment. This shift towards digital platforms has allowed players to access a wide range of games and betting options from the comfort of their own homes, leading to a surge in revenue for the industry.
Additionally, the Swedish government has implemented new regulations to liberalize the gambling market and attract more operators to the country. This has created a more competitive environment, with a greater variety of options for players to choose from. The increased competition has not only driven up revenue for existing operators but has also led to innovations in game offerings and customer experiences.
Furthermore, the growing acceptance of gambling as a form of entertainment has also contributed to the industry’s success. With more people viewing gambling as a legitimate leisure activity, there has been a shift in societal attitudes towards the industry. This has led to an increase in the number of people participating in gambling activities, further boosting revenue for operators.
Overall, the Swedish gambling industry’s revenue exceeding SEK 27.1 billion in 2023 is a testament to the sector’s resilience and adaptability in the face of changing market dynamics. With online gambling continuing to grow in popularity and new regulations opening up opportunities for operators, the industry is poised for further growth in the coming years.
