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Gambling Tax Income Boosts The Swedish Economy

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Swedish gambling licenses are notoriously strict – however this is for very good reason, and the state has been careful to make sure that all applicants and licensees follow the rules carefully. One of the rules? All gaming companies registered with the Swedish government for the purposes of offering online gambling must pay tax on their income in Sweden. But how has this benefitted the Swedish economy since then?

This tax income is critical in ensuring a steady revenue stream for the country – as in some US states they use tax revenue to better fill the treasury, or to create funds for social projects. Over the course of 2019 and up until 2020, gaming companies had paid up a total of SEK 923 million – a huge number given the amount of time the law has been in action.

However, actual numbers may be even higher than this – with numbers as high as SEK 1.8 billion being touted by professionals in the regulatory body. This is twice as much as the initial estimates – and we can only assume that this will increase further as time goes on, through a combined income of taxes, application fees, renewal fees, and other administration monies to be paid to the Swedish government.

According to Norskespilleautomater, Swedish regulations have had a huge impact on licensees in the country. Although online gambling usage has increased throughout 2020, we’ve seen that operators are reporting a drop in income from players. This is most likely due to the new deposit limit laws and possibly on bonus caps not enticing players so much.

However, as changes to regulations are rolled out slowly across Europe – notably Germany’s upcoming gambling laws, Portugal’s laws against bonuses, and various quickly-implemented anti-gambling laws put into place over the course of the pandemic in Europe – we can only hope that Sweden’s strict-yet-flexible approach helps more operators function in the legal market. This makes gambling safer, more fun, and ultimately more profitable for the Swedish government as time goes on.

SOURCE: Norskespilleautomater.com

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Booming Games

New Fish Tales Colossal Catch: Link & Loot Released by Booming Games

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  • Booming Games has launched Fish Tales Colossal Catch: Link & Loot, the latest game in the hit Fish Tales series
  • The game boasts a 5×3 grid with 10 paylines, alongside a maximum win of 10,000x
  • Players can unlock two exciting bonus features; free spins and the all-new Link & Loot

Booming Games, a top supplier of high-quality gaming content, has today released Fish Tales Colossal Catch: Link & Loot. Featuring a 5×3 layout with 10 paylines, offering high stakes with a top win of 10,000x a wager, this is the newest entry in Booming Games’ popular Fish Tales series.

Link & Loot is a brand-new function where players arrive and capture fish to win rewards. Participants who stock their barrel with fish to observe their haul increase and possibly reveal significant multiplier rewards. Connect symbols to form massive symbols; the larger the catch, the greater the reward!

Placed against a stunning tropical backdrop, adorned with palm trees, crystal-clear waters, and engaging animations, the game showcases a variety of Colossal Fish icons. These are capable of providing Mini, Minor, Major, and Grand awards.

To enhance the possibility of achieving a huge win, players can also activate eight Free Spins by revealing three or more Scatters.

Craig Asling, Director of Games at Booming Games, said: “Fish Tales Colossal Catch: Link & Loot is the ultimate underwater adventure, where every spin could land your biggest catch. The Fish Tales series has been a big hit with players across the globe. Now with the brand new Link & Loot feature with ‘colossal’ win potential, bonus features and vibrant visuals on offer, this latest iteration is an awesome addition to the existing lineup of games. Now is the time to get swept away in the fun!”

The post New Fish Tales Colossal Catch: Link & Loot Released by Booming Games appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Akshay Rajagopal

Fireplace Raises $1.5M to Build Institutional Trading Infrastructure for Prediction Markets

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Fireplace, a professional trading terminal for prediction markets, announced a $1.5 million pre-seed round to bring institutional trading infrastructure to one of the fastest growing asset classes in history. The round was led by Frachtis, with participation from White Star Capital and several other notable VCs and Angel Investors, including Syndicate rounds on Legion and Echo.

Fireplace offers what prediction markets always lacked: a unified terminal that aggregates markets, liquidity, and execution across prediction market venues. Fireplace delivers real-time data, institution-grade execution, advanced charting, wallet, whale, and insider tracking, and discovery. Wallet technology and automations are powered by in-house Enclave Money infrastructure.

As prediction markets fragment across platforms and chains, Fireplace is being built to support cross-venue aggregation with smart-order-routing. Rather than forcing traders to manually compare prices and liquidity across venues, Fireplace will intelligently route orders when the same market exists in multiple places.

“Prediction markets are one of the most powerful financial primitives, but the user experience hasn’t caught up. Trading feels slow and information-poor, Fireplace fixes that by giving traders the fastest, most intelligent terminal,” said Sumer Malhotra, Co-Founder and CEO of Fireplace.

Prediction markets have exploded over the past year, becoming a core venue for macro-events, sports, crypto events, and elections. Despite this growth, tooling remains fragmented, slow, and information-poor.

Akshay Rajagopal, Co-Founder and CTO, added: “Prediction markets needed their own Bloomberg Terminal. Fireplace brings real-time infrastructure and execution that simply didn’t exist before.”

Fireplace sits above existing prediction markets, aggregating markets, traders, and liquidity into a single interface.

“Fireplace is building the professional interface that markets like Polymarket have been missing – the data, speed, and tooling that serious traders expect. This will unlock a new category for prediction markets, allowing pro-traders and institutions to participate in a new asset class,” said Xavier Meegan, CIO of Frachtis.

The post Fireplace Raises $1.5M to Build Institutional Trading Infrastructure for Prediction Markets appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Adventure One QSS

Dutch Gambling Authority Imposes Penalty on Adventure One QSS for Illegal Gambling

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The Netherlands Gambling Authority (KSA) has imposed a penalty on Adventure One QSS Inc. for illegal gambling. Adventure One offers games of chance on the Dutch market under the Polymarket brand name, without a license. The KSA has called on Polymarket to cease its activities immediately. If it fails to do so, the company will be fined €420,000 per week, with a maximum of €840,000.

Polymarket has been frequently in the news in recent months, particularly regarding betting on the Dutch elections. Although Polymarket itself states that prediction markets do not fall under the category of gambling, the Netherlands Gambling Authority (KSA) has taken a different stance. After contacting the company about its illegal activities on the Dutch market, there has been no visible change, and the offering remains available. The Netherlands Gambling Authority therefore imposed this order, subject to a penalty. A turnover-related fine may also be imposed at a later date.

Ella Seijsener, director of licensing and supervision at the Netherlands Gambling Authority (KSA), said: “Prediction markets are on the rise, including in the Netherlands. These types of companies offer bets that are not permitted in our market under any circumstances, not even by license holders. Besides the social risks of these kinds of predictions (for example, the potential influence on elections), we conclude that this constitutes illegal gambling. Anyone without a KSA license has no business in our market. This also applies to these new gambling platforms.”

The post Dutch Gambling Authority Imposes Penalty on Adventure One QSS for Illegal Gambling appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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