Spelinspektionen, the Swedish gambling regulatory body, has fined two operators in the country, Genesis Global and Paf, after they failed to comply with the new rules. The Swedish regulatory body only came into existence at the start of 2019 and has promised to be extremely strict to comply with rules and regulations. Let’s take a look.
Well, if you’ve been reading the news at our designated page for the latest online gambling news, you’ll not be surprised one bit. That’s because the Swedish gambling body has been giving out warning left right and center. Let us remember, they’ve only been in operation since the start of the year, not even 4 months ago.
Global Genesis and Paf fail to Comply with Sweden’s Gambling Body
It is absolutely no surprise to us, who have been following the gambling scene in Sweden and have noticed many gambling operators appearing to be taking the piss when it comes to compliance with Spelinspektionen.
The fines which Global Genesis and Paf have received are on account for their failing to coordinate their system with the rules set out by the gambling body concering self-exclusion.
Genesis has received an official warning and a fine of up to $430,000. As for Paf, they have been fined just under $11,000.
These sanctions have come after both operators failed to join in on the mandatory self-exclusion register Spelpaus.se.
As a result, customers were able to play on both Global Genesis and Paf even if they previously self-excluded themselves.
Considering what’s been going on in the UK and all over the world, this really is a shame both for the gambling industry and the Swedish gambling market. Shame on both companies as Sweden set up a new gambling body to try to move forward in the correct direction.
Paf has since come out and publicized a breakdown of how much revenue it makes from different player segments, urging others to follow suit and become more transparent.
Ironically, in this instance, it’s actually Paf who have fallen short of the required standards an operator in Sweden should have.
In my own personal opinion, I believe this has been a long wait for one of the operators in Sweden to take one step too far before Spelinspektionen comes in to interfere. They have to be tough and set an example for other gambling operators who wish to continue to do business within Swedish borders. Global Genesis and Paf were just an example of what they can do if they follow through on their strict new rules and ways.