The Swedish gambling regulator, Spelinspektionen, has imposed a fine on Betfair for allowing betting on U21 football matches. The fine, which amounts to SEK 10 million (approximately $1.1 million), was imposed after an investigation by the regulator found that Betfair had violated Swedish gambling laws.
Under Swedish gambling laws, it is illegal to offer betting on any sports events in which the majority of participants are under the age of 18. This includes U21 football matches, which are typically played by players aged between 18 and 21 years old.
Betfair, a popular online betting platform, was found to have offered betting on U21 football matches between January and September 2019. The regulator’s investigation found that Betfair had failed to implement adequate measures to prevent such bets from being placed on their platform.
In a statement, Spelinspektionen said that the fine was intended to send a message to other gambling operators that they must comply with Swedish gambling laws. “We take a very serious view of any breaches of the regulations and will not hesitate to take action against operators who fail to comply,” the regulator said.
Betfair has since responded to the fine, stating that they take their responsibilities as a licensed operator seriously and that they have taken steps to ensure that such breaches do not occur in the future. “We regret that this breach occurred and have taken steps to ensure that it does not happen again,” a spokesperson for Betfair said.
The fine imposed on Betfair is just one example of the strict regulatory environment that exists in Sweden’s gambling industry. Since the introduction of new gambling laws in 2019, the regulator has been cracking down on operators who fail to comply with the regulations.
In addition to fines, the regulator has also revoked licenses and imposed temporary bans on operators who have breached the regulations. This has led to a number of high-profile cases in the Swedish gambling industry, including the revocation of the license of Global Gaming in 2019.
Overall, the Swedish gambling regulator’s actions demonstrate the importance of compliance with gambling laws and regulations. Operators who fail to comply with these laws risk facing significant fines and other penalties, which can have a significant impact on their business. As such, it is essential for all gambling operators to ensure that they are fully compliant with the regulations in the jurisdictions in which they operate.
