In a move aimed at reinforcing player safeguards and addressing financial risk, the Swedish Government has submitted a proposal to completely outlaw the use of credit in gambling. This new legislative recommendation seeks to replace the current, limited restrictions in the Swedish Gambling Act with a far more comprehensive ban. Although gambling on credit has technically been restricted under existing Swedish law, current regulations only apply to situations where operators or their agents directly extend credit at the time of purchase. That leaves a legal gap—players are still able to fund their gambling through credit cards or external loans, as long as the financing isn’t offered by the operator. Proposed Ban to Cover Third-Party Credit and Card Payments Under the suggested changes, licensed gambling companies and agents would be forbidden from facilitating any gambling activity involving borrowed money. This includes preventing players from entering into credit agreements with outside lenders and ensuring that bets are not accepted if an operator… Read More

Category: News 

Source: Casino News Daily