Sweden gambling revenue rises to SEK6.71 billion in Q3

Sweden’s gambling market demonstrated modest growth during the third quarter of the year, with total revenue reaching SEK6.71 billion ($712.6 million). This represents a 0.5% increase compared to the same period in 2024, according to figures from the Swedish regulator, Spelinspektionen. The increase was primarily driven by the expansion of the country’s iGaming sector, which continues to be the dominant contributor to national gambling revenues.

While the overall quarterly performance shows growth year-on-year, the revenue figure is slightly lower than the SEK7.02 billion posted in the second quarter, highlighting seasonal fluctuations in the sector. This article provides a comprehensive overview of Sweden’s gambling revenue trends, covering online, land-based, and public benefit gambling, as well as regulatory changes that will shape the market in the near future.

Online gambling leads growth

The commercial online gambling segment remained the primary driver of Sweden’s gambling revenue. Total revenue from this sector reached SEK4.51 billion in Q3, marking a 3.5% increase compared to the same quarter in 2024. This category encompasses online casino games and sports betting, both of which contributed significantly to the growth.

Online casino games, in particular, accounted for a substantial portion of revenue. Despite the absence of major sporting events during this quarter compared to last year, the segment maintained strong performance. Q3 of 2024 had included the latter stages of the UEFA Euro 2024 football tournament and the 2024 Summer Olympics, which created an exceptionally competitive baseline for comparison. Nevertheless, Swedish players continued to engage actively with digital gambling platforms.

The online sports betting segment also showed resilience. The combination of innovative betting features, user-friendly mobile platforms, and increased marketing efforts by licensed operators contributed to steady growth. Operators focused on ensuring compliance with strict Swedish regulations while offering a wide range of betting markets, from football and ice hockey to niche sports.

This performance underscores the growing importance of online gambling in Sweden, not only as a revenue driver but also as a channel through which operators can reach a broader audience while maintaining regulatory oversight.

Mixed results in land-based gambling

Contrasting the online sector, Sweden’s land-based gambling experienced mixed outcomes during the third quarter. Revenue from state lottery operations and physical slot machines declined by 7.2% year-on-year, amounting to SEK1.26 billion. The decline reflects broader industry trends, including changing player preferences and the increasing migration of gambling activity to online platforms.

Lotteries categorized as “gaming for public benefit” experienced marginal growth, with revenues edging up 0.5% to SEK822 million. Bingo games under this category remained stable, generating SEK48 million, unchanged from the previous year. These results suggest that while public benefit lotteries continue to attract participants, they are not experiencing the same momentum as commercial online offerings.

Commercial land-based operations, including restaurant casinos and smaller gaming venues, reported moderate growth. Revenue from this segment rose by 3.1%, reaching SEK67 million. These figures reflect the resilience of niche land-based operators in Sweden, even amid broader declines in traditional casino revenue.

A significant development in Q3 was the absence of revenue from former Casino Cosmopol operations. Svenska Spel, the state-owned gambling company, closed its final physical casino in April 2025. The closures followed Sweden’s government decision to abolish land-based casinos entirely, with an official ban set to take effect from 1 January 2026. The move represents a major shift in Sweden’s gambling landscape, signaling a complete transition toward online and digital platforms.

Regulatory changes and the extended credit gambling ban

Alongside market developments, Sweden is preparing for significant regulatory reforms. One of the most notable changes concerns the use of credit for gambling purposes. While the Swedish Gambling Act currently prohibits players from using credit with licensed operators, forthcoming amendments will further tighten these restrictions.

From 1 April 2026, licensed operators and gambling agents will be prohibited from processing any transactions involving credit. This includes not only traditional forms of credit but also credit agreements with external actors, such as personal loans and bank overdrafts, which could be misused for gambling.

Operators will be required to implement measures to prevent gambling on credit. These may include blocking credit card payments for gambling transactions and avoiding promotion of third-party lenders to customers. The intention is to protect consumers from financial harm and reduce the risk of gambling-related debt.

Despite the comprehensive nature of the ban, the government has indicated that Spelinspektionen may allow certain exceptions. Licensed operators running gambling for public benefit, such as charity lotteries, may be exempted under specific circumstances. This nuanced approach demonstrates the Swedish authorities’ commitment to balancing consumer protection with the continuation of socially beneficial gambling activities.

Market outlook and future trends

Looking ahead, Sweden’s gambling sector is likely to continue its transition toward digital platforms. Online gaming growth remains robust, supported by advancements in mobile technology, user experience, and the availability of diverse betting options. At the same time, the closure of physical casinos and tighter regulations around credit usage will reshape the land-based gambling landscape.

Operators will need to navigate this changing environment carefully. Compliance with stringent regulatory requirements, including responsible gambling measures and consumer protection protocols, will remain a top priority. At the same time, they will need to innovate and attract new players through safe and engaging digital experiences.

The extended credit gambling ban may have far-reaching effects on consumer behavior and operator revenue. While some players may reduce their gambling activity, the overall market is expected to remain stable, driven by responsible participation and the popularity of online platforms.

Overall, Sweden’s gambling market demonstrates resilience amid regulatory changes and shifting consumer trends. With careful management and adherence to legal obligations, the sector can continue to contribute significantly to national revenue while promoting responsible gambling practices.

Conclusion

Sweden’s gambling revenue increased modestly in Q3 2025, reaching SEK6.71 billion, with online gaming as the primary driver of growth. Land-based gambling faced challenges, including the closure of physical casinos and mixed results across lotteries and restaurant casinos. The extended credit gambling ban, effective from April 2026, will further influence market dynamics by limiting the use of credit in gambling transactions.

The market outlook indicates continued strength in online gambling, complemented by a cautious approach to consumer protection and regulatory compliance. As Sweden transitions toward a fully digital gambling landscape, operators must balance innovation with responsible practices to ensure sustainable growth.

Frequently Asked Questions

What was Sweden’s total gambling revenue in Q3 2025?
Sweden’s total gambling revenue in Q3 2025 reached SEK6.71 billion, a 0.5% increase compared to Q3 2024.

Which sector contributed most to Sweden’s gambling revenue?
The commercial online gambling sector was the primary contributor, generating SEK4.51 billion in revenue.

How did land-based gambling perform in Q3 2025?
Land-based gambling showed mixed results, with revenue from state lotteries and physical slot machines declining by 7.2%.

Why did Casino Cosmopol operations not contribute to Q3 revenue?
Svenska Spel closed its last physical casino in April 2025 following the government decision to ban land-based casinos by 2026.

What is the extended credit gambling ban in Sweden?
From 1 April 2026, licensed operators and agents cannot process transactions involving credit, including loans or overdrafts, for gambling.

Are there exceptions to the credit gambling ban?
Yes, Spelinspektionen may allow exemptions for licensed operators running gambling for public benefit, such as charity lotteries.

How did lotteries classified as public benefit perform?
Revenue from public benefit lotteries increased slightly by 0.5% to SEK822 million, while bingo remained stable at SEK48 million.

What factors contributed to online gambling growth?
Growth was driven by online casinos, sports betting, mobile platforms, and marketing efforts despite a competitive baseline from 2024 events.

When will land-based casinos officially close in Sweden?
Land-based casinos will be banned and fully closed by 1 January 2026.

What is the outlook for Sweden’s gambling market?
The market is expected to grow in the online sector, with operators focusing on responsible gambling, compliance, and digital innovation.