Part 2: The current online market
Part 2:
The current online market
The current position
and share of the
leading grey market
operators will have a
telling influence on the
eventual shape of the
re-regulated market
Where are we now?
The leading operators in the
Swedish market are well known
both throughout Europe and
increasingly globally, pointing
to the degree to which — as
mentioned previously — the grey
nature of the home market for
many of these brands has been
no barrier whatsoever to revenue
growth and expansion.
Kindred with Unibet and Maria,
Betsson with its own-name brand
as well as NordicBet and Betsafe,
Mr Green, LeoVegas, Casumo and
many others have placed Swedish-
born, sometimes Stockholm-listed
and certainly Swedish-focused
online operators at the forefront of
innovation within the online scene
almost since inception.
And there is more to come.
Companies such as Codeta and
Bethard have made a splash
recently and there is every
indication that a regulated market
will give a further push for more
brands, either from or focusing on
Scandinavia, to emerge.
A long list running into the
hundreds of sites that can be seen
by trawling affiliate sites gives an
indication that the current size
of the market is extensive – and
it can be assumed that the vast
majority of them will now go
through the process of entering
the regulated space.
Meanwhile, via NetEnt,
Evolution, Kambi and others, the
Swedish influence on the area
of online gambling supply has
been equally as important to the
European and global market.
Though we will not be looking at
the B2B arena, it remains the case
that many of the market leaders
have got there in part off the back
of the success of their suppliers in
also managing to innovate.
The same can be said for the
affiliates working in the online
gambling field. Grey markets such
as Sweden have been perfect
hunting grounds for affiliates and
indeed one of the biggest super-
affiliates working today, Catena
Media, could arguably be said to
have been built off the back of
Swedish-focused (and certainly
Nordic-facing) M&A.
Among the affiliate businesses
bought by Catena since late 2014
are Swedish-facing Wonko Media
in March 2016, Spelbloggare.se in
July that year, Slotsia in early 2017
and the joint Sweden and Norway-
facing Newcasinos.com in May 2017.
Catena is, of course, Stockholm-
listed but it isn’t the only Swedish-
focused affiliate. Cherry Gaming
bought up the Nordic-facing
Sweden: The transition to regulation in one of Europe’s most advanced digital markets
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