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Technology and Regulation Breeds Success for Swedish Gambling
By Shane Addinall Sep 08, 2022 IndustrySince the launch of its regulated gambling market, Sweden experienced tremendous industry growth. What do the licensed operators use to present the Swedes with the best gambling experience?Since Swedish lawmakers rolled out the welcome wagon to foreign gambling operators, the country’s igaming market has become a noteworthy contender in the global online casino industry. Moving away from a state-owned monopoly market meant local operators faced competition and this transformed Sweden’s gambling industry into a thriving market.
The diverse population in Sweden appreciates advanced technology, and this region has unique possibilities and challenges. By allowing a variety of licensed operators to provide gambling services to Swedes, the government enabled technology, such as AI, to improve the local gambling experience.
With their sights set on a zero-cash economy, Sweden may become the forerunner in crypto gambling too, but only time will tell.
From Then to Now
Gambling in Sweden has a long history, with state ownership dominating the scene until recently. Land-based facilities provided gambling entertainment for decades and Swedish punters were not strangers to remote wagers, although it was limited in the country until 2019. The reality of offshore gambling, revenue losses, and the increased demand for safer options stared lawmakers in the face.
Following increased pressure from the European Commission and its member states, the Swedish government developed and enforced the new Gambling Act in 2019. The change meant international operators could apply for a local license and offer Swedes their services once approved.
Currently, the region has approximately 66 licensed operators, including state-owned Svenska Spel. The list includes top brands who have decades of experience in the igaming industry and understand what players want. Healthy competition and innovative providers continuously aid the market with improvements, and technology is at the heart of it all.
Sustainability Through Innovation
The importance of a healthy competitive economy is clear in how it helped the Swedish gambling space to improve. With the variety of options available at their fingertips, gamblers in the European country need not settle for second best, and this motivates operators to constantly improve their business practices.
With the advantage of the digital era, savvy gambling companies have countless options to maximise customer experiences and the best in the game ups the ante constantly. Licensed online casinos in Sweden sustain excellence through key applications, which include artificial intelligence (AI), superior data analytics, cloud computing, and chatbots.
Understanding their players helps operators to meet needs and adapt protocols where necessary. AI applications not only improve a player’s immediate gaming experience, but also help the platform provider better understand player behaviour. Combined with data analytics, this provides excellent insights to drive future innovations. Both AI and data analytics play an integral role in responsible gambling initiatives. They also drive personalisation.
Solid cloud computing is an essential choice for Swedish operators, and this helps secure gambling platforms from malicious attacks and data breaches. By using advanced cloud computing, suppliers safeguard sensitive information, such as financial and personal details, from hackers.
Chatbots are another tool used by operators in the region. The combination of these tech tools provides Swedes with unsurpassed remote wagering and the results are visible in the country’s gambling revenues.
Taking Swedish Gambling into the Future
As one of the most technologically advanced nations of the globe, Sweden has tremendous potential for innovative igaming. The improvements from the past three years are noteworthy and, with blockchain technology making headway, the possibilities are astounding for what the future holds.
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