The Swedish gambling market fundamentally changed on January 1, 2019, when the Swedish license was introduced. Previously, Sweden had a longstanding gambling monopoly where the government’s only approved bookmaker, Svenska Spel, and ATG were allowed to offer gambling. However, since the introduction of the Swedish license, Sweden has started to provide its customers with the safest gambling experience, much of which, thanks to BankID.
What is BankID?
BankID is an electronic identification solution in Sweden that enables secure digital identification and signing online. It is widely used by banks, authorities, and gambling companies with a Swedish license. Through BankID, users can quickly and easily verify their identity to perform transactions, log in to various services, and approve digital documents. This technology dramatically contributes to raising the level of security in the Swedish gambling market because it ensures that only the player can access their gaming account and personal information.
The Swedish Gambling Authority requires the use of BankID
The Swedish Gambling Authority, Spelinspektionen, requires the use of BankID. All players at Swedish casinos must be verified before they start playing and not just at withdrawals. This is done with the help of BankID. Nowadays, casino BankID is something Swedish players no longer think twice about, as it has become commonplace for them to use this electronic signature.
Since it is a requirement from Sweden’s Gambling Authority that players must be verified before they start playing, all Swedish players need to register and log in using electronic identification.
Why BankID is so secure
BankID represents a high level of security at Swedish casinos for several reasons. It makes it a reliable method for identifying transactions online. Here are some points that explain why BankID is so secure:
Personal Access: Only the user has access to their BankID. This ensures no one else can log in or conduct transactions on the user’s behalf.
- Secure Authentication: To obtain BankID, a security process through the user’s bank is required, meaning the identity is carefully checked and verified by a trusted institution before access.
- PIN or Face ID: Each time a login occurs, or a transaction is made with BankID, the player must confirm by entering their six-digit security code or Face ID. This ensures that no one else can access the information.
- Protected Communication: All data transfer with BankID is encrypted, protecting the user’s information from being intercepted or hijacked.
Strict Requirements for Swedish Licensees
Obtaining a gambling license in Sweden requires the casino to go through all the steps demanded by the Swedish authority, Spelinspektionen. The requirements are significantly stricter compared to equivalents in, for example, Malta and Curacao. Moreover, there are several built-in protections for players to promote responsible gaming:
- Spelpaus: This is Sweden’s national self-exclusion register where players can exclude themselves using BankID. An exclusion through Spelpaus applies to all Swedish casinos and gambling companies. It blocks access to all operators upon exclusion.
- Betting Limits: All Swedish casinos must offer players the option to set their betting limits. This ensures that players do not gamble away more than their specified budget. The player can no longer access the casino if the limit is reached.
- Self-Assessment: The tool must also be available on every casino’s website. Here, players can enter and test their gambling habits.