At Swedish online casinos today, you cannot pay with cryptocurrencies. This is due to the Swedish Gaming Act which came into force on 1 January 2019. According to the Swedish Gaming Inspectorate’s website, the new Swedish Gaming Act states that “The Licensee may only receive payments to a gaming account from a payment service provider according to the Act (2010: 751) on payment services. “
A previously accepted payment method
Before the Swedish Gaming Act, there was no such regulation, and it was then up to each of the various online casinos that were available to decide which different payment providers they wanted to use. Today, however, there are other countries that offer payment with cryptocurrencies at their online casinos – because they do not have as strictly regulated gaming market as in Sweden.
To be able to use payment with cryptocurrencies at various online casinos, you must first and foremost have a so-called “Wallet”, or an e-wallet, in which you can make your purchase. There are also different apps that you can use instead if you prefer this. Then you have to buy the cryptocurrency that you intend to make your deposit through. Once this is done, just make a deposit as usual at the casino you want to play – provided it is an online casino that accepts cryptocurrencies as a payment method.
As I said, there is currently no Swedish online casino that accepts this form of payment – even if we do not know what the future holds. However, there are several online casinos in other countries that accept cryptocurrencies as a payment method – several of which specialize in this – precisely because it is a means of payment that is increasing in popularity.
Difficult to predict future opportunities
If cryptocurrencies will ever be able to be used as an approved means of payment in Sweden, we can only guess. However, it does not feel like a completely unreasonable scenario. With increasing popularity among cryptocurrencies also comes increased demands on the possibility of use. Maybe it will be the case that the Swedish gaming market must adapt, so as not to risk losing customers.
The majority are satisfied with today’s payment methods
As the situation looks right today, there is most likely no major risk of a declining customer base at Swedish online casinos based solely on the fact that it is not possible to pay with cryptocurrencies. The number of existing payment options is large, and both all the most common banks, as well as the most common e-wallets are usually available as available alternatives. For example, today you can make deposits to your gaming account both via bank transfer, via bank and credit card, and through e-wallets. More and more casinos also offer deposits via Swish.
There is thus a large selection of different payment providers to choose from when you want to make a deposit or a withdrawal at a Swedish casino. As a result, we suspect that most online casinos feel relatively satisfied with the range of payment options they currently offer.
