Friday saw the Swedish government unveil a proposition to prohibit the utilization of credit cards for gambling, contradicting its own state inquiry, known as the Over-indebtedness Inquiry.
In a prior stance, BOS had endorsed the Over-indebtedness Inquiry’s recommendation to maintain the allowance of credit cards for gambling.
Gustaf Hoffstedt, the Secretary General of BOS, the Swedish Trade Association for Online Gambling remarked:
It’s disheartening that the government disregards its own expertise by suggesting a credit card ban on gambling, in opposition to the findings of its own investigation. Curiously, there’s no parallel proposal to ban credit card usage for purchasing alcoholic beverages, which in Sweden is solely facilitated by a government-owned and operated retail monopoly. By doing so, the government is effectively bestowing yet another advantage upon the unlicensed gambling sector, which currently commands a 41% share of the online casino market. There’s a substantial risk that unlicensed gambling could surpass and capture a greater overall market share than licensed gambling by 2024. It’s imperative for the government to recalibrate its focus and demonstrate alignment with licensed gambling entities and consumer protection.
