Latest survey: insights into Sweden’s iGaming industry

A recent survey highlights rising iGaming participation rates in Sweden, shifting demographics, changing player preferences, and ongoing concerns about fairness and transparency, prompting continuous industry adjustments.

In 2023, the Swedish gaming market experienced its first decline since the sector’s re-regulation in 2019. Additionally, the Swedish government recently proposed increasing the gambling tax rate from 18% to 22%, starting July 1, 2024. Overall, Sweden maintains one of the most comprehensive regulatory systems for iGaming.

Despite the financial and regulatory challenges that the operators may face in Sweden, the survey, conducted by F?retagsutveckling AB, an independent research institute, and CasinoFeber, reveals increased participation.

Participation rates and demographics

In 2022, 12% of Swedes engaged in online gambling. By 2024, this rose to over 16% for online casino players and 20% for sports betting.

Female participation is also increasing: in 2022, men constituted a large 69% of online players, which decreased to 60% by 2024 for casino players, though sports betting remained predominantly male (67%).

Sports betting enthusiasts tend to be older than casino players. Female sports bettors average 43 years old, compared to 39 for online casino players. Among males, sports bettors average 48 years old, while casino players average 42.These age dynamics have remained stable over the past two years.

Preferences and playing habits

In 2022, ease and smoothness of experience were the top factors for selecting an online casino. By 2024, general technological advancements shifted the priority to better chances of winning and fast withdrawals.

Daily gambling is quite rare, with only 5% playing daily in 2022 and 6% in 2024. In 2024, 48% gambled either weekly or monthly, and 45% less than four times a year. Men, especially those over 50, played more frequently than women.

Half of the players favoured slot games consistently over the past two years. In sports betting, football was the most popular, with 60% of respondents placing bets on it in the past year. Horse racing followed at 31.3%, and betting on politics and entertainment, such as the Eurovision Song Contest, was at 6.5%.

Notably, 48% would never bet against their favourite team, even if they thought the team would lose, though frequent bettors were more likely to do so.

Motivations for playing

The primary motivation for playing remained the desire or the thrill to win money, unchanged from 2022 to 2024. The excitement of the game and social aspects are also significant factors, especially for sports betting.

Financial aspects

In 2024, most sports bettors and casino players wagered modest amounts monthly. Players mostly wagered less than 99 SEK (€8.8) or between 100 and 999 SEK (€9-88) per month.

Only 12% of sports bettors and 18% of casino players wagered 1,000 SEK or more monthly.

Borrowing money for gambling was more prevalent among casino players (19%) than sports bettors (only 5%).

Trust and transparency

In 2024, 43% of respondents suspected manipulation of game outcomes. This is a significant issue as fairness concerns were the third most important reason for stopping online gambling according to the 2022 survey.

A crucial factor in selecting a betting site was whether the operator had a Swedish license. However, 61% of players did not know how to verify a site’s licensing status. Among older players (50-75 years), this ignorance rose to 72%, though 56% of those spending 2,500 SEK (€222.30) or more monthly knew how to check.

Openness and awareness

In 2022, 20% of players did not disclose their gambling to anyone, increasing slightly to 22% in 2024. Alarmingly, those gambling larger amounts were more likely to keep their activities private.

Awareness of self-exclusion tools like Spelpaus improved, with only 10% of casino players and 17% of sports bettors unaware of it by 2024, down from 26% in 2022.

Bonuses

More than half of respondents preferred lower bonuses with low wagering requirements over higher bonuses with high requirements, regardless of age, gender, or frequency of play. Players often explore new sites as a way to obtain bonuses.

Forty percent of bonus users reported encountering issues, with only 46% having completely problem-free experiences. The most frequent problems cited were unclear terms and conditions, noted by 52% of players, while 44% faced challenges withdrawing funds or winning

Upcoming SiGMA event: Click here to find out all about SiGMA East Europe powered by Soft2Bet happening in Budapest, September 2024.