Swedish gambling regulator fines Betfair for allowing wagering on U21 football

Online bookmaker Betfair was punished by the Swedish gaming regulator Spelinspektionen for repeatedly breaking the terms of its license.

The notification from the regulatory body claims that Betfair provided odds on Sweden's U21 Allsvenskan soccer league. Swedish gambling rules forbid wagering on U21 sports. In Sweden, only the top four divisions of football are allowed to have gambling.

The announcement also discloses that Betfair has repeatedly engaged in the same offense. During the period of 2021–2022, the business offered betting on 148 games, and 224 customers bet a total of SEK 1,125,352 (€ 98,705) on 139 games.

In response to Spelinspektionen's inquiry, Betfair halted all Swedish football betting, with the exception of the top two tiers. In order to prevent another compromise, the corporation also put in place a number of safeguards.

Due to the organization's repeated violations, Spelinspektionen decided to fine Betfair SEK4 million (€350,841). As a result of breaches like this, an operator's license may be revoked or suspended; nevertheless, the regulator decided that the steps taken by Betfair to stop the breach from happening again were sufficient and issued the firm with a stern warning.

The charge imposed on Betfair is the first one the Swedish authority has levied this year, bringing the total sanctions for 2023 to more than €49.2 million.

The gaming industry's fines in 2022 totaled €251,712,034 / $269,532,490, a huge rise of 443.9% compared to the sum in 2021 of €44,753,969 / $48,642,992, according to the industry fines tracker website GamblingIndustryFines.com.

By fLEXI tEAM