SBTech Partners with Svenska Spel to Provide Sportsbook Platform
State owned Svenska Spel partners with SBTech to provide sportsbook offering
Lottery and gambling operator Svenska Spel has agreed to a deal with supplier SBTech to provide the state-owned operator with a multi-channel sportsbook. Svenska Spel had invited tenders to provide the operator with a new platform to replace their current in-house platform. After an extensive procurement process, SBTech won the contact and has signed a four-year deal.
SBTech has said that they will integrate their sportsbook solution over Svenska Spel’s retail, mobile and online channels, a move they believe will ensure that customers of Svenska Spel enjoy the best possible betting experiences on the market. The launch date of the new sportsbook product is expected to be in May 2020.
The deal is the third major deal that SBTech has agreed in 2019, following tier-one tie-ups with Finnish monopoly operator Veikkaus and the US government-run Oregon Lottery.
Andrew Cochrane who is the chief development officer at SBTech paid tribute to the fact that the company had been able to negotiate and secure such high-profile contracts, he said;
To have secured one WLA member agreement this year has been a huge achievement, but to now have three large-scale government projects underway is phenomenal.– Andrew Cochrane, chief development officer SBTech
Svenska Spel, which translates to Swedish Games, was for many years, the only company allowed to operate in the region. However, the threat of off-shore and illegal gambling operators led to the Swedish market being re-regulated, and newly licensed operators started offering gambling products on the 1st of January this year. Despite this new competition, Svenska Spel is still one of Sweden’s biggest operators and currently hold 37% of the sports betting market and 27% of the online betting and gaming market.
Re-regulation has been far from smooth in Sweden, despite the regulations taking two years to be put in place and a long period of consultation. The new competitive market was supposed to bring the cost benefits of taxing and regulating online gaming markets as well as protecting consumers and removing rogue players from the market. However, the reality is that the Swedish regulator has been accused of heavy-handedness with one industry insider saying, “they set out to be the UK Gambling Commission but they’ve gone too far, we all supported re-regulation, but this is a mess.”
Svenska Spel’s refreshing of their sportsbook offering is likely to have enforced on the company as they compete with the new entrants to the market. These include some big names in the industry including the Kindred Group (using brands Unibet and Maria), LeoVegas Betsson and UK giants Bet365.