GiG Stops Sportsbetting Services in Sweden

This week Gaming Innovation Group announced that they've suspended sportsbetting on their Guts and Rizk online brands in Sweden, saying that the country's laws are making it impossible to provide the services.

GiG says that the current rules in place are "are too open to interpretation". This, combined with the gaming regulator being quick to issue fines for rule infractions (real and perceived) makes doing business in Sweden a difficult task.

Speaking about the situation GiG CEO Robin Reed said, "We find ourselves in an impossible position due to the lack of clarity in the Swedish gambling regulation. We have to protect the company and its shareholders from potential penalties from such vagueries.

"This action was taken because, ultimately, it is critically important for us to be compliant. So, we decided to temporarily suspend further bets until this can be clarified.

"We believe that the current rules for online sports betting are too open to interpretation, leaving uncertainty around whether an operator is in fact compliant or not. The recent fines issued by the Swedish regulator to GiG and multiple other peers demonstrate this overall uncertainty in the market."

Reed is calling on the regulator to suspend sportsbetting services until it clarifies the laws related to the activity.

Related casinos

usCasinoJurisdictionRatingPlay
Guts Casino90Curaçao, Malta, Sweden, U.K.90

About the author

Comments

Post new comment

There are currently no comments on this page. Be the first!

Login using your social network account
Or log in with a Casino Listings account

Login or register to post comments

Registering for an account takes less than a minute and you will be brought right back here to comment afterwards.