ATG, a leading gambling operator in Sweden, has released new data showing a slight improvement in the channelisation rate to licensed online gambling operators during the third quarter of 2025. According to ATG’s report, the channelisation rate for Q3 was estimated to be between 74% and 85%. This marks an increase from the same period last year, when the rate was between 70% and 82%.
The improvement in channelisation aligns with the Swedish Gambling Authority, Spelinspektionen’s, earlier estimate for 2024, which was reported at 85%. However, this still falls short of the Swedish government’s target channelisation rate of 90%, which was established in 2019 when the country’s regulated iGaming market was launched.
The online gambling market in Sweden continues to display a distinct gap between sports betting and casino channelisation rates. Sports betting consistently leads, with a higher channelisation rate of 90% compared to online casinos’ 79%. This disparity is largely attributed to the assumption that the average revenue per visit (ARPV) for unlicensed operators is significantly higher. If ARPV is assumed to be 20 times higher for unlicensed operators, the overall market channelisation rate drops to 74%, with sports betting at 82% and online casinos trailing at 65%.
Despite these challenges, the data indicates a promising trend of improvement. The channelisation rates have been on the rise since they hit a low early last year. In Q1 of 2024, the channelisation rate for online casinos was as low as 56%, based on the assumption of 20 times higher ARPV for unlicensed operators. Sports betting was at 77% and the overall market rate was 67% during the same period.
The report from ATG also highlights a significant decline in visits to unlicensed gambling websites. In the third quarter of 2025, only 2.3% of visits were to unlicensed sites, a decrease from the peak of around 3.4% in Q1 2024. Infiniza Limited, which owns the most popular unlicensed websites among Swedish players, saw its sites unlimitcasino.co, luckyjungle.com, and refuelcasino.com draw significant traffic, with visits numbering 174,391, 144,992, and 139,097, respectively.
Out of the top 20 most visited unlicensed sites, 16 were reported to offer games from leading content providers, highlighting a challenge for the regulated market. Additionally, eight of these sites provided direct deposit and withdrawal services via Swedish bank accounts using BankID, facilitated by the payment technology company Krofort. Alarmingly, three of the top 20 sites are also on Spelinspektionen’s prohibited list.
ATG’s CEO, Hasse Lord Skarplöth, expressed satisfaction with the positive trend in channelisation and the decline in visits to unlicensed sites. Nonetheless, he emphasized the need for further action to combat illegal gambling in Sweden. Skarplöth reiterated ATG’s and Svenska Spel’s joint proposal for a blanket ban on bonuses in the iGaming market. While this proposal has faced criticism, particularly from the Swedish Trade Association for Online Gambling (BOS), which argues that such a ban could drive players to the unlicensed market, Skarplöth remains resolute. He believes that if the efforts to block unlicensed websites are intensified, it will significantly enhance the safety of Sweden’s online gambling environment.
“I have long advocated a total bonus ban,” he asserted, addressing concerns about the impact on the regulated market. The current efforts against unlicensed players are beginning to take effect, he observed, noting that continued pressure on unlicensed operators would weaken the argument that a bonus ban would push players to illegal sites.
On the other hand, critics of the bonus ban argue that heavy-handed regulation may unintentionally bolster the unlicensed market by stripping the regulated sector of its competitive edge. They point out that players seeking bonuses, which are often more lucrative in unregulated spaces, might be tempted to bypass the official channels.
As the debate continues, the Swedish market remains under close scrutiny, with both government and industry stakeholders keen to strike a balance between regulation and competition. The evolving landscape of Sweden’s iGaming sector highlights the complexities faced by regulators in maintaining a robust, safe, and fair market. As operators like ATG strive to meet government targets and enhance channelisation, the future of Sweden’s online gambling industry will likely depend on collaborative efforts to refine regulatory frameworks and adapt to market dynamics.
In conclusion, while the Swedish online gambling market has shown improvement in channelisation rates, reaching the government’s ambitious 90% target remains a challenge. Stakeholders must carefully consider varying perspectives and data insights to craft strategies that safeguard the market while encouraging growth and innovation. As the year progresses, Sweden’s approach to balancing regulation and market competition will undoubtedly serve as a case study for other jurisdictions navigating similar challenges in the iGaming sector.
4/5
