Sweden’s gambling regulator Spelinspektionen has banned Fortunepanda.com operator Versus Odds BV from providing online gambling in the country without the relevant local licence.
Spelinspektionen said in a statement yesterday (2 January) that Versus Odds has been active in Sweden via its Fortunepanda.com website. Players in the country were able to access the site and play games despite the operator not being approved by the regulator.
Detailing the case, Spelinspektionen said it conducted a hidden test purchase on the site. While this was not completed, the regulator uncovered several issues that resulted in it issuing the ban.
Among these was that the site offered information such as conditions, policy documents and an FAQ page in Swedish, which for unlicensed operators is strictly against gambling laws. Marketing, including affiliates, was also available in Swedish language.
The investigation discovered that Versus Odds is located and licensed in Curaçao, by the jurisdiction’s previous licensing regime, which has now been scrapped.
Also uncovered during the probe was that Versus Odds operates various other websites in addition to Fortunepanda.com. These include several variations of Fortunepanda as well as Artcasino.io, Casinoorca.com, Depositwin.com, Hazcasino.com, Merlincasino.com, Staeprix.com and Vegazcasino.com.
Ruling on the case, Spelinspektionen reiterated that any operator running online gambling in Sweden must hold the relevant licence. As this was not the case with Versus Odds, it was deemed to have breached regulations.
Setting out its decision, the regulator said it was clear Versus Odds was targeting players in the country due to the amount of Swedish-language content on Fortunepanda.com. It also noted its marketing to Swedish consumers through various affiliates.
The ban comes into effect immediately. Versus Odds was given the opportunity to make a statement but is yet to respond to the regulator.
“Spelinspektionen considers that regarding consumer protection and to guarantee gaming safety, it is important that the decision is complied with immediately,” the regulator said. “The decision must therefore apply immediately.”
Illegal gambling website visits on the rise in Sweden
The ruling follows Q3 data from Swedish horseracing monopoly AB Trav och Galopp (ATG) which showed traffic to unlicensed gambling sites has increased tenfold since 2019.
Published last month, the data shows Sweden’s channelisation rate was likely between 70% and 82% in Q3. Even at the upper end of this range, this undercuts the 86% recently stated by Spelinspektionen in its October report.
But the estimate is slightly higher than ATG’s previous 68% to 81% channelisation forecast from Q2 2024. ATG said the figures suggest the rate is stabilising.
On the back of this, ATG CEO Hasse Lord Skarplöth hit out at the Swedish government for its “unreasonable” demands of licensed operators. He said that current regulations are proving “counterproductive” and allowing the illegal market to grow.
