Sweden’s gambling industry generated nearly €2.5 billion in 2024
Sweden’s regulated gambling market recorded revenues of SEK 27.8 billion (€2.49 billion) in 2024, according to new figures published by the country’s gambling regulator Spelinspektionen.
The total, which covers all operators licensed to offer games of chance in Sweden, equates to SEK 3,325 (€296) per adult resident and represented around 0.9% of disposable income.
Online play continues to dominate
Commercial online gambling and betting, which includes online casinos and sports wagering, remained the largest single category, generating SEK 18.1 billion (€1.61 billion), according to figures in Spelinspektionen’s Channelisation on the Swedish Gambling Market 2024 report.
Breaking the numbers down by quarter, the statistical release shows that online casinos and betting brought in SEK 4.6 billion (€409 million) in Q2, SEK 4.4 billion (€392 million) in Q3, and SEK 4.6 billion (€409 million) in Q4.
By contrast, state lotteries and slot machines produced SEK 1.3–1.7 billion (€116–151 million) per quarter, while land-based commercial venues such as restaurant casinos accounted for only SEK 55–66 million (€4.9–5.9 million) per quarter.
Casino Cosmopol, Sweden’s last casino, contributed just SEK 33 million (€2.9 million) in Q2, SEK 31 million (€2.8 million) in both Q3 and Q4, and only SEK 26 million (€2.3 million) in the first quarter of 2025 before closing down.
Channelisation concerns
The regulator’s broader report, published this week, highlights a key challenge behind the financial picture: the falling channelisation rate.
According to Spelinspektionen, “The channelisation rate for the competitive market in 2024 was 85 percent, compared with the authority’s estimate of 86 percent for 2023”.
The authority added: “The proportion of players who have played on the licensed competitive market is estimated at 96 percent in 2024”.
But the report also notes persistent leakage to offshore websites. “The main reasons for playing outside the licensing system are that players perceive better winning opportunities on sites without Swedish licences, that they are or have been self-excluded on Spelpaus.se, and better bonus offers,” the regulator explained. The accompanying chart indicates 23% cited “better winning opportunities”, 21% were or had been self-excluded via Spelpaus, and 15% pointed to “better bonus offers” (while 35% answered “no particular reason”).
The latest results show a slight dip compared to the previous year. “Our assessment is that the channelisation rate has fallen by one percentage point since last year’s measurement,” Spelinspektionen noted.
This trend is visible when comparing the average of key indicators. “For 2023 we estimated channelisation at 86 percent. For 2024 we calculate it at 85 percent,” the report stated.
Online casino and betting under pressure
The regulator’s report stresses that unlicensed activity is especially visible in iGaming. “Spelinspektionen’s overall assessment is that online casino and betting, particularly online, are the game forms where play outside the licensing system is particularly widespread,” the authority wrote.
A survey of Swedish players conducted in 2025 found that 35% of those using unlicensed sites cited “better winning opportunities” as their reason. Another 21% said they turned to offshore operators because they had blocked themselves via Spelpaus, while 15% pointed to “better bonus offers”.
Balancing control and competition
Since the 2019 market reform, channelisation has risen significantly. Before the changes, less than half of play was estimated to be within the system. Today’s 85% rate, while lower than ideal, remains a strong majority.
“An important purpose of the re-regulation of the gambling market was that the state would gain control over the gambling that previously took place with operators without permission in Sweden,” the report recalled.
Still, the regulator struck a cautious note. “A small proportion of players play on websites without a Swedish licence, but they play for more money than those who play licensed,” the report warned. That imbalance, Spelinspektionen suggested, poses a challenge for long-term market stability: while most Swedish gamblers remain within the legal framework, the financial weight of the offshore segment is disproportionately large.
