Spelinspektionen Green Lights Betting On Virtual Sports Events

With the recent closure of most sporting events around the world, one of the hardest-hit sectors of the iGaming industry has been the sports betting market. This has led to some concerns from groups like Svenska Spel as Swedish bookmakers grasped for betting options for their punters leading to bets being placed on practice soccer matches and lower-tiered division games where the danger for manipulation and match-fixing is high.

VIP Creativity Personified

An unlikely helper appeared on the scene in the form of the burgeoning eSports market. With the rise to fame of key figures in games such as Fortnite, CS:GO, League of Legends eSports and its crazy prize money, eSports has transitioned from niche interest to a household conversation topic.

This mainstream adoption was key to leading sporting events such as the F1 Racing taking to online arenas to hold virtual events as a way to keep fans entertained and possibly even test the waters for new ways to appeal to younger fans.

To date these events have been for entertainment purposes only, pitting YouTube stars and sporting legends against one another for nothing more than bragging rights but who knows what the future holds for these types of globally appealing virtual events.

Highest Rated Virtual Betting Approved

Swedish Gaming Inspectorate, Spelinspektionen, posted a press release whereby they clarified the requirements and conditions of their current sports betting legislation in terms of betting on simulated or virtual sporting events.

In short, they confirmed that:

Current betting license holder can add betting on “electronically simulated sports events” without applying for a new or updated licence.
The Gaming Act does not specifically define “what betting forms” may be offered by a licence holder.
The licence will also be valid for future developments in betting behaviours, which is the basis for their intentional non-specification of what betting may be offered.

The only caveat to this seemingly open-arms approach to betting on virtual sporting events is that the Gaming Inspectorate does require that operators inform them of their intention to offer these bets and ensures their technical documentation and certificates reflect the inclusion of these bets.