Swedish gambling market sees 6% growth in Q2 2024
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21 Sep 2024 •
Reading time: 2 minutes Online gambling is booming in Sweden. The market saw a significant growth of 6.4% in the second quarter of 2024. This means that total revenue for licensed gambling companies amounted to 6.9 billion Swedish kronor which is approximately 602.5 million euros. Online gambling in particular performed well and contributed the most to this increase. Revenue in this segment increased by 9.2% reaching 4.6 billion kronor.
But it is not all good news. While online gambling is doing great state casinos are falling sharply. Casino Cosmopol in particular was hit hard with a revenue drop of no less than 73.8%. This was partly due to the closure of the casino and the Swedish police are also concerned about a possible increase in illegal gambling.
Different sectors, different stories
It is not only the casinos that are having a hard time. The state lottery and slot machines also saw their revenue drop slightly. Where revenues were still 1.4 billion kronor last year, this quarter it was 1.3 billion. The lotteries for charities also saw their figures drop slightly to 893 million kronor.
However there are also some bright spots here and there. For example, restaurant casinos actually improved slightly. Their turnover increased from 53 million to 56 million kronor. Not a huge jump, but a sign that there are still people who like to sit at the physical gaming tables.
More people are choosing Spelpaus
In addition to the turnover figures, there was another striking trend: more and more people are using Spelpaus, the self-exclusion service in Sweden. This is the service that allows you to block yourself from gambling if you notice that things are getting out of hand. At the end of the second quarter, no fewer than 112,000 people had registered, an increase of 1.7% compared to the previous quarter.
The Swedish gambling landscape is in a state of flux. While online gambling is booming, land-based casinos and lotteries are struggling to maintain their place. However, the call for responsible gaming seems to be growing, with more people wanting to control their gambling.