Stockholm steals London's crown as iGaming capital

By Jake Patel

Stockholm has been crowned Europe’s betting capital, with more listed iGaming companies than any other stock exchange in Europe.

Stockholm’s stock exchange now has 19 companies listed on it, overtaking London’s stock exchange which has 16 listed companies.

Since the start of 2017, Sweden has seen an influx in iGaming firms. Some list through IPO’s like Better Collective and others like LeoVegas and Cherry have migrated from smaller markets. Better Collective A/S was the latest company to list on Stockholm’s exchange after an initial public offering this month.

“There’s a handful of international companies that are actively evaluating a new or parallel listing in Stockholm right now,” Adam Kostyal head of European listings at Nasdaq, told Bloomberg.

Sweden’s government is preparing to implement new regulations for online gambling on 1 January 2019.

Sweden’s new gambling law, the Re-Regulation of the Gambling Market, and will set game tax at 18% of gross gaming revenue.

The new law will also introduce a central register for responsible gaming which will allow customers to restrict themselves from all licensed games in the Swedish market.

The government hopes the new gambling law will help combat addiction. It will require gaming companies to be certified by the Swiss government if they wish to operate in the country and online.

Lotteriinspektionen, Sweden’s gambling regulator, will begin accepting applications for online gaming licenses from 1 August 2018.

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