Expansion Barred With Online Poker

While it may be true that Svenska Spel has a large monopoly going for online poker and gambling for Sweden, everyone eventually finds limits to all. For Spel that limit was when the Swedish government denied this online gambling company's request in wanting to expand the already huge Internet poker service.

Rather than the company expanding, the government would like to see Svenska Spel concentrating more on an internal and ongoing investigation into the license that already exists. It is due on June 30, 2008 and the government has chosen not to allow an expansion until that investigation is complete. The government has emphasized the importance for Spel to consider the social effects an expansion of the gambling would show, before considering just the profits.

Spel has reported that profits are up 19% compared to that of 2006. The third quarter of 2007, showing nearly 1.4 billion Swedish kronor ($215 million) in profit.

In Sweden, the online gaming market is growing considerably, this growth also includes Internet poker. Svenska Spel alone holding 35% of that market.

The European Union has targeted countries because of their unfair gaming practices online, wanting them to allow open competition from companies outside of their borders. Sweden being one of the countries targeted, could very well lose their monopoly status in the future.