Sweden Proposes Stringent Measures to Curb Risky Credit in Gambling
In the wake of growing concerns about debt and financial risk-taking, Sweden’s recent proposition in the SOU 2023:38 outlines a series of measures targeting precarious lending practices.
Expanding Credit Ban in Gambling Legislation
A standout proposal involves broadening the scope of the credit ban stipulated in the Gambling Act (2018:1138).
This extension would make it illegal for license holders or their agents to promote or facilitate the offering of credit for gambling stakes.
Introducing a Debt and Credit Registry
Complementing the credit ban, the proposal also suggests the establishment of a comprehensive debt and credit register (Skri-register).
This register aims to offer a more complete picture of an individual’s debt, thereby enabling better monitoring and control over consumer credit, with a keen focus on preventing excessive gambling-related debt.
Our Comment on the Article
The proposed measures in the SOU 2023:38 reflect Sweden’s proactive stance in fostering a safer financial environment and mitigating the risks associated with gambling-related debt.
The expansion of the credit ban in the Gambling Act illustrates the government’s commitment to safeguarding consumers from the slippery slope of gambling on credit.
Meanwhile, the introduction of a debt and credit register signifies a strategic move towards greater transparency and accountability within financial services. These initiatives could set a precedent for other nations grappling with similar issues, making strides in consumer protection and responsible gambling practices.
