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Sweden Looking To Overhaul Online Betting Regulations

The European country Sweden is looking to overhaul its gaming regulations for the growing online casino industry, a statement from the government's website claims.

The statement was issued by Prime Minister Fredrik Reinfeldt and Financial Markets Minister Peter Norman, who say they recognize that “some legislative changes” are needed related to the gambling industry and that after getting recommendations from the National Audit Office it will “return to Parliament with a proposal in order to establish a well-functioning regulatory framework.”

Sweden believes there to be an issue with its residents playing casino related games on unregulated sites, and is aiming to solve the issue. Other concerns rest with keeping problem gambling numbers low and cracking down on illegal slot machine operators.

The statement says that a response is set for a May 31st deadline, and it is likely that any new laws would be implemented by 2014.

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