Svenska Spel Will Stop Advertising Online Betting

Swedish betting group Svenska Spel announced that they're suspending their online gambling advertising for the rest of the year in an attempt to cut problem gambling in the Swedish market.

The group will be ceasing the ads moving forward for the year, as numbers of addicted gamblers have grown recently. With a newly liberalized market, Svenska Spel is keen to do their part in reducing some of these numbers. Recent studies have shows that 30% of of punters using gaming machines in Sweden have issues managing betting, and that 60% of gambling addicts prefer online betting over land-based options.

The group will cease all verticals for the year, and it's possible that the move will continue further than the period. Commenting on the decision company CEO Patrik Hofbauer said, "Svenska Spel has always pushed the line that all the games in the licensed market risk should be classified based on risk levels, and that stricter rules should apply for the more risky games, both in terms of design and marketing. By ending advertising for online casino, we are now taking the plunge."

Hofbauer also urged other operators to stop advertising their services, although that's probably unlikely, as the new market is proving to be lucrative for them.