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Ahead of Sweden implementing liberalized gambling rules next year, 22 operators applied for betting licenses in the country on the first day that applications were open.
Sweden's regulator Lotteriinspektionen reported that the 22 companies submitted more than 1,500 documents to be reviewed by the authorities. The groups are looking to be among the first to offer their services to players when the liberalized market comes into effect in January. Some of the big names that applied for licenses include Betsson, Expekt, Svenska Spel, MT SecureTrade Limited, and Cherry.
When the new law goes live, operators will be subject to taxes of 18% on gambling revenues, while there will also be restrictions on advertising and laws in place to protect punters.
Commenting on the application Betsson CEO Pontus Lindwall said, "Sweden is our home turf. We're a Swedish top company within the industry, and we've been in this market for a very long time. I think it's great that it opens up for regulation and for license applications."
We'll be keeping up on the licensing process in Sweden and will update readers as we learn more about additional companies applying.