iGaming in Sweden: Market Overview
Sweden is one of the most strictly regulated iGaming markets in Europe. Online gambling already accounts for the majority of total turnover, while the regulator continues to tighten oversight. Against this backdrop, the market shows stagnation combined with high structural stability.
Market Size
🔵 Total market revenue (2024): SEK 27.9 bn
🔵 Online gambling (2024): SEK 17.84 bn
🔵 Online share: 64%+
🔵 Market revenue Q1 2025: SEK 6.61 bn
🔵 Forecast full-year revenue 2025: ≈ $ 2.2 bn
Current Dynamics
🔴 Total market: -0.9% YoY (Q1 2025)
🔴 Online segment: +0.9% YoY
🔴 Land-based casinos (Casino Cosmopol): -5% YoY
🔴 Offline segment is sustained mainly by lotteries and slot machines, not casinos
Regulatory Model
🔵 Licensing regime in place since 2019
🔵 GGR tax: 22%
🔵 Credit card ban for gambling (from April 2025)
🔵 Stricter requirements for responsible gaming, reporting, and monitoring
🔵 Full control over payments, currency (SEK), and infrastructure
Offshore Operators
🔴 A license is required for operators targeting Swedish players
🔴 Previously, offshore operators could operate by avoiding the Swedish language, local currency, and local marketing
🔴 In 2025, the revision of the Gambling Act was completed
🔴 An expansion of licensing is being discussed for all operators accepting players from Sweden, regardless of language or currency
🔴 The goal is to close remaining regulatory loopholes and increase channelization
Player Behavior
🔵 Online casino participation: 16%+ of the adult population
🔵 Sports betting: 20% of adults
🔵 Self-exclusion via Spelpaus: ~125,000 people
🔵 Instant bank payments dominate (Swish, Trustly)
🔵 Mobile-first has fully established itself as the default format
Conclusion
The Swedish iGaming market illustrates what a post-expansion phase looks like. Regulation here functions not as a growth driver, but as a mechanism to keep the system in balance: taxes, compliance, and responsible gaming requirements limit scaling, while reducing risks and volatility.
As a result, the market is shifting from a growth phase to a redistribution phase — operators are competing not for new players, but for market share within an already mature and tightly controlled environment.
Market Size
🔵 Total market revenue (2024): SEK 27.9 bn
🔵 Online gambling (2024): SEK 17.84 bn
🔵 Online share: 64%+
🔵 Market revenue Q1 2025: SEK 6.61 bn
🔵 Forecast full-year revenue 2025: ≈ $ 2.2 bn
Current Dynamics
🔴 Total market: -0.9% YoY (Q1 2025)
🔴 Online segment: +0.9% YoY
🔴 Land-based casinos (Casino Cosmopol): -5% YoY
🔴 Offline segment is sustained mainly by lotteries and slot machines, not casinos
Regulatory Model
🔵 Licensing regime in place since 2019
🔵 GGR tax: 22%
🔵 Credit card ban for gambling (from April 2025)
🔵 Stricter requirements for responsible gaming, reporting, and monitoring
🔵 Full control over payments, currency (SEK), and infrastructure
Offshore Operators
🔴 A license is required for operators targeting Swedish players
🔴 Previously, offshore operators could operate by avoiding the Swedish language, local currency, and local marketing
🔴 In 2025, the revision of the Gambling Act was completed
🔴 An expansion of licensing is being discussed for all operators accepting players from Sweden, regardless of language or currency
🔴 The goal is to close remaining regulatory loopholes and increase channelization
Player Behavior
🔵 Online casino participation: 16%+ of the adult population
🔵 Sports betting: 20% of adults
🔵 Self-exclusion via Spelpaus: ~125,000 people
🔵 Instant bank payments dominate (Swish, Trustly)
🔵 Mobile-first has fully established itself as the default format
Conclusion
The Swedish iGaming market illustrates what a post-expansion phase looks like. Regulation here functions not as a growth driver, but as a mechanism to keep the system in balance: taxes, compliance, and responsible gaming requirements limit scaling, while reducing risks and volatility.
As a result, the market is shifting from a growth phase to a redistribution phase — operators are competing not for new players, but for market share within an already mature and tightly controlled environment.