Swedish Gambling Authority stops gambling company without a Swedish license
The Swedish Gambling Authority (Spelinspektionen) has made a decision to prohibit the company Twocent Technology Limited from offering gambling services to Swedish consumers. The decision is based on the fact that the company lacks the necessary license required to legally conduct gambling operations in the Swedish market.
According to the Swedish Gambling Act, all operators targeting Sweden must have approval from the authorities. The purpose of this requirement is to ensure a safe gambling environment, protect players from unhealthy gambling habits, and counteract gambling addiction. By requiring a license, the state can ensure that companies follow Swedish regulations regarding safety and responsible gambling.
Spelinspektionen actively monitors the market to identify operators acting without authorization. The authority prioritizes efforts to stop unlicensed companies in order to maintain healthy competition and protect Swedish consumers. Gambling with a company that lacks a Swedish license often entails a higher risk for the player, as these companies are not under Swedish supervision.
The decision against Twocent Technology Limited means that the company must immediately cease its operations directed at Sweden. Spelinspektionen is now continuing its work of reviewing the gambling market to ensure that all companies comply with applicable legislation.