The Growing Size of the Scandinavian Online Gaming Market—An Overview in 2020

Contrary to popular belief, people from Scandinavia are enthusiastic about online gaming. In fact, the iGaming industry in Finland, Sweden, Norway and Denmark is worth over €10 billion, exceeding the UK significantly.

Scandinavians are some of the happiest people on earth, with stable jobs and huge levels of disposable income. In Finland, players spend over €2 billion on casino games each year. In contrast, Norwegians spend €4.6 billion while the Swedes spend €2.3 billion.

Scandinavians prefer to play casino games primarily through mobile devices. And research shows the industry is expected to grow even bigger by the end of this year. Here’s why.

Progressive Gaming Laws

Scandinavian countries have relatively progressive online gaming laws. But they are not as progressive as those of Britain. In Norway, online casinos operate under the monopoly of Norsk Tipping.

Finland has a similar law. The iGaming industry is operated by Veikkaus Oy. Things are fairly better in Sweden and Denmark where players have a wider variety of home-based gaming websites and apps. But all in all, the iGaming industry comes with restrictions in most Scandinavian countries.

That said, these laws have a provision for using foreign casinos. As such, Norwegians and Finnish aren’t limited to Norsk Tipping and Veikkaus Oy alone. They can play via websites based in Gibraltar, Malta, London or Isle of Man.

Broad Variety of Gaming Titles

Last year, Veikkus Oy partnered with international software provider IGT to help broaden its number of gaming positions. This followed a report that Finns had spent over €280 million at foreign online casinos the previous year.

Norway has a similar problem. In 2017, the country’s gaming regulatory body discovered that Norwegians spent over €200 million at offshore casinos. Still, it had no intentions of ending monopoly of the gaming sector.

Against that backdrop, Scandinavians have a wide variety of gaming positions even though most of them are located outside of their countries. Some of these games come from developers based in Sweden: Play’nGO, NetEnt and Quickspin to name a few.

Internationally, Scandinavian casinos get their games from Playtech, Microgaming, Evolution Gaming, IGT, Big Time Gaming and Elk Studios. These companies provide a dynamic range of slots and card games. From slots and poker to blackjack to roulette and baccarat; Scandinavians have access to nearly all casino games.

Bonuses

Bonuses are one of the reasons for the rapid growth of online gaming in Scandinavia. That’s because they give players the chance to play casino games without risking their own cash. Better yet, they let players withdraw their profits.

In Sweden, casinos without the Swedish license provide the biggest bonuses. Some of them welcome new customers with free spins to play slots immediately they create an account. They then provide more rewards after their first deposit.

Casinoutansvensklicens.co has a long list of online casinos that provide bonuses to new Swedish players. The list also includes an overview of what to expect from each operator: game variety, withdrawal speed and payment methods.

Like the rest of Europe, Scandinavian casinos don’t end their generosity at new bonuses. After you become a regular customer, you qualify for more rewards like cashback offers, VIP packages and birthday gifts.

Jackpots and Poker Success

A decade ago, online gaming was a small niche concentrated in Sweden and Norway. Then jackpots and poker happened and suddenly there was an influx of casino players all over Scandinavia.

The thing is, a handful of Scandinavians won millions of euros through progressive jackpots and poker between 2008 and 2014. A Finn won €700,000 in 2008. A compatriot won €1 million the following year before a Finn won a record €7.7 million in 2014.

In the poker scene, Norway has had the most successful players. First, there’s Annette Obrestad who won a bracelet at the WSOPE in 2014. Then there’s Felix Stephensen, who’s won over €5 million playing the game online.

Poker is also famous in Finland and Sweden. Helsinki-born Patrik Antonius is one of the most celebrated poker players online. In contrast, Sweden is home to the World Series of Poker champion in 2014 (Martin Jacobson).

Mobile Gaming

As we mentioned above, Scandinavians prefer to play casino games through mobile devices. And it’s easy to understand why. For starters, most people carry their iPhones around, which makes it easy to play slots when you want.

Then there’s the option to use a native app or mobile website. In other words, playing on mobile devices is pretty easy since you don’t have to install an app. You can use a mobile website through your iOS or android device.

Another crucial consideration is that the mobile gaming experience has improved. Fifteen years ago, it was impossible to play more than five slots on a smartphone. These days, you can play hundreds of games.

And that’s just the beginning. Mobile games are more interactive. They feature advanced graphics, have bonuses and even support live gaming. Essentially, you can play poker with friends while also interacting with them.

Growing Support from Banking Companies

In Scandinavia, nearly every bank accepts payments to online casinos. There’s an even bigger number of e-wallets that work with iGaming companies. And there are more payment options like Bitcoin and debit cards.

This wide range of payment options make it easy for almost everyone in Sweden, Norway, Finland and Denmark to play casino games. They can deposit as little as $10 and withdraw whatever they win stress-free.

That’s unlike many countries where banks and e-wallets refuse payments to online casinos. An example is the US where many credit card payments reject casino payments even in states where online gaming is legal.

Conclusion

Online gaming hasn’t always been popular in Scandinavia. But over the years, it has become a favorite pastime for millions of people. Some people play casino games because there are many gaming websites with plenty of slots and card games.

Others have been inspired by the many Scandinavians who’ve won money playing jackpots and online poker. All the same, creating a gaming account is free. And if you join the right company, you’ll get rewarded with bonuses.