Sweden’s gambling authority, Spelinspektionen, has released its quarterly financial report for Q3 of 2023, revealing that gambling operators generated SEK 6.7 billion, which is approximately $611.9 million or €573.8 million. This represents a minor decrease of just over 1% compared to the same period in 2022. The figures for Q3 of 2023 are nearly identical to those reported for Q2 of the same year, with less than a half a percent difference in overall revenues.
Online gambling emerged as the market leader once again, accounting for 63.1% of all gambling revenues. Commercial online gambling, including online casino gaming and sports betting, generated SEK 4.25 billion ($388.1 million/€363.9 million) in combined revenues, representing a 1.7% increase compared to the previous quarter. However, it marked a 1.3% decrease from the same period in 2022. Year-to-date, online gambling operators have amassed SEK 12.6 billion ($1.1 billion/€1.07 billion) in revenues.
In-person gambling, such as state lottery and slot games, generated SEK 1.4 billion ($127.9 million/€119.9 million) in revenue for the quarter, roughly the same as the previous quarter and Q3 of 2022. This brings the total for 2023 to SEK 4.1 billion ($374.6 million/€351.2 million). Overall, gambling revenues for the year now stand at just over SEK 20 billion ($1.8 billion/€1.7 billion).
The report also highlighted that by the end of Q2, approximately 99,000 people had self-excluded from gambling through the national self-exclusion program, Spelpaus.se, representing a 4% increase from the previous quarter.
The report was compiled by Ciaran McEneaney, a gambling industry analyst with over a decade of experience working with some of the biggest names in the sports-betting, gambling, poker, and casino industry.
Overall, the latest financial report from Spelinspektionen indicates a stable but slightly decreased revenue for gambling operators in Sweden, with online gambling continuing to dominate the market. It also highlights the increasing participation in self-exclusion programs, reflecting a growing awareness of responsible gambling practices.