Swedish regulators have dished out US $4.4m in fines over betting markets for events featuring children.
Sweden fines eight gambling operators for bets on junior sports
The Swedish gambling regulator has sanctioned several high-profile betting firms for accepting wagers on junior sports.
SEE ALSO: ONLINE SPORTS BETTING GUIDE
Spelinspektionen recently confirmed that eight licensed operators would have to pay a total of SEK 41 million (US $4.4m) in fines.
Facing the largest penalties are the Stars Group and Hillside Sports, who will each have to fork over SEK 10m.
Nags.bet
Deposit Min. £10 and Get £10 Free Bet
New Players Only. Free bet - one-time stake of $10, min odds 1.5, stake not returned. 1X wager the winnings. Wager from real balance first. Wager calculated on bonus bets only. Max conversion: $200. Valid for 7 Days from receipt. Withdrawal requests void all active/pending bonuses.
Betfair and ElectraWorks Limited will each pay SEK 5.5m, while Zecure Gaming and Casinostugan must cough up SEK 3.5m apiece.
Bethard (SEK 2.5m) and Polar Limited (SEK 700k) were also charged.
All eight operators were found guilty of breaking federal laws that prohibit any kind of wagering activity on events where a majority of the participants are underaged.
That covers most junior sporting competitions, meaning betting markets for popular events such as this year’s FIFA U17 World Cup would be in breach.
Disclaimer: It is your responsibility to abide by gambling and sports betting laws in your jurisdiction. The information provided on BettingPlanet.com is accurate to the best of our knowledge but should be used as a guide only.
