Swedish Gambling Authority Bans Three Businesses and Launches a Compliance Review

The Swedish Gambling Authority is investigating More Tech Group for compliance while banning EOD Code SRL, Igloo Ventures SRL, and MIBS NV for unlawful targeting.

The Swedish Gambling Authority barred three businesses (EOD Code SRL, Igloo Ventures SRL, and MIBS NV) from accepting Swedish bets owing to improper marketing methods.

Furthermore, More Tech Group is being monitored for compliance with telephone sales, credit limits, and identification verification procedures.

The Swedish Gambling Authority (Spelinspektionen) has banned three unlicensed gambling companies: EOD Code SRL, Igloo Ventures SRL, and MIBS NV, for unlawfully targeting Swedish customers.

According to the authority, the operators employed affiliate marketing, advertising banners on Swedish websites, and influencers on platforms like Instagram and Twitch to reach Swedish gamers without the necessary national license.

Read More: U.S. Commercial Gaming Hits $71.92 Billion in 2024: AGA Reports Fourth Year of Record Growth

Separately, More Tech Group, the licensed operator of websites including lottoexperten.se, lottoexperten.com, and superlottoclub.com, has been the target of supervisory proceedings by Spelinspektionen.

The company’s compliance with various provisions of the Swedish Gambling Act (2018:1138), such as the requirement for written consent in telephone sales, the ban on credit offerings, and the verification of customer identity against the national self-exclusion register, Spelpaus, will be evaluated.

The Swedish government’s larger attempts to strengthen regulatory control are reflected in the crackdown on illicit operations and the surveillance of licensed businesses.

The Gambling Authority came under fire from the National Audit Office earlier this year for conducting too few inspections and not having enough follow-up protocols.

The government has responded by committing to bolstering enforcement procedures and initiating a review of the Gambling Act.

Courtesy: https://igamingexpert.com/, https://www.igbnorthamerica.com/