Sweden’s gambling sector experienced a modest year-on-year growth of 2.65% in 2024, with the total revenue reaching SEK27.85 billion, outpacing the SEK27.13 billion recorded in the previous year. This growth was largely fueled by the robust performance of the commercial online gaming market, which continues to dominate the gambling landscape in Sweden.
Online gaming leads revenue surge:
According to the official PR of the Swedish Gambling Authority (pdf), Spelinspektionen, the online gambling segment was particularly strong, generating SEK17.84 billion in revenue, marking a 5% increase from 2023. This segment’s vitality is a clear indicator of the shifting preferences among Swedish gamblers toward digital platforms.
The state lottery and slot games also showed positive momentum, with revenues rising 2.2% year-on-year to SEK5.72 billion. Additionally, revenues from non-profit games and national lotteries increased by 2.6%, totaling SEK3.70 billion.
However, not all segments fared equally. While land-based commercial gaming, including restaurant casinos, saw a revenue increase of 4% to SEK237 million, community games and hall bingo experienced a decline, with revenues falling 3.5% to SEK196 million. The closure of several Casino Cosmopol locations in early 2024 significantly impacted this sector, with a dramatic 66.3% drop in revenue to SEK160 million.
Q4 performance: a strong finish to the year:
The final quarter of 2024 was particularly strong, with total gambling revenue in Q4 hitting SEK7.61 billion, a 7.6% increase from the previous year and 14.3% higher than in Q3. Online gambling again led the way with SEK4.63 billion in revenue, up 6.2% year-on-year. This figure not only topped the quarterly comparison but also underscored the growing importance of the online sector.
The state lottery and slots segment was the fastest-growing in Q4, with an 18.5% rise in revenue to SEK1.71 billion. Non-profit games and national lotteries also saw a healthy increase, with revenue up 5.2% to SEK1.13 billion.
The future of Casino Cosmopol remains uncertain, with the Swedish government proposing in May to shut down the business entirely by 1 January 2026. This move has sparked controversy, particularly from Spelinspektionen, which has expressed concerns that closing Casino Cosmopol could lead to an increase in illegal land-based gambling activities.
As the year closed, the Swedish government also announced a review of the country’s Gambling Act, aiming to tighten regulations. This review, coupled with the ongoing shifts in the market dynamics, suggests that Sweden’s gambling sector might see significant regulatory changes in the coming years.
Overall, the Swedish gambling market in 2024 illustrated a landscape in transition, heavily influenced by online growth but challenged by regulatory uncertainties and the evolving status of traditional, land-based venues.