The Swedish Online Gambling Trade Association (BOS) has announced that BetConstruct, an international B2B betting and gaming solutions supplier, has joined its ranks.
In a statement, BetConstruct asserted that its membership of BOS is indicative of its ‘commitment to a sustainable and well-regulated gambling market’ in Sweden. The firm’s B2C brand, VBET, has also secured a gaming licence.
VBET will find itself competing in one of the Nordics more competitive markets, with Sweden and Denmark being the only two in the region to have a mulit-licence market, as opposed to a monopoly system used in Finland and Norway.
“Becoming a member of BOS marks an important milestone for BetConstruct,” says Shacke Manukyan, Head of Compliance at BetConstruct.
“This membership allows us to collaborate with key industry stakeholders to promote responsible gaming, innovation, and a fair competitive environment in Sweden.
“We look forward to contributing our expertise and working together to shape the future of the Swedish gambling industry.”
BetConstruct joins BOS at a key time during the Swedish market’s development, with the market still experiencing teething pains six years after the multi-licence system was introduced in 2019.
A recent report concluded by ATG, the country’s state owned horse racing betting operator, found that the channelisation rate of customers from the black market to the legal market stood between 69-82% – below the government target of 90%.
BOS plays a key role in representing the industry and its political interests during any legislative and regulatory changes. The regulator has notably been calling on the government to fill what it believes are gaps in the 2018 Gambling Act’s framework.
Gustaf Hoffstedt, Secretary General of BOS, said: “We are all delighted to welcome BetConstruct to the BOS family. BOS brings together the major international gambling companies in the Swedish gambling market.
“BetConstruct’s importance in Sweden has increased in recent years and we look forward to taking part in their commitment. Thanks to BetConstruct, we are also strengthening the association’s expertise not only in the business to consumer area, but also as a game supplier.”
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