n 2024, Sweden’s gambling industry experienced a slight uptick, with total revenue reaching SEK27.85 billion (€2.49 billion), a 2.65% increase from the previous year’s SEK27.13 billion.
This growth was primarily driven by the commercial online gaming sector, which generated SEK17.84 billion, marking a 5.0% rise compared to 2023.
Online Gaming Leads the Market
The online gaming segment emerged as the standout performer, contributing significantly to the overall revenue increase. The SEK17.84 billion earned from online platforms underscores the shifting preference of consumers towards digital gambling avenues. This trend reflects the industry’s adaptation to technological advancements and changing consumer behaviors. 
State Lotteries and Land-Based Casinos: Mixed Outcomes
State lotteries and slot machines also saw a positive trajectory, with revenues climbing 2.2% year-on-year to SEK5.72 billion. Non-profit games and national lotteries experienced a 2.6% boost, totaling SEK3.70 billion. In contrast, the land-based casino sector faced challenges; the closure of several Casino Cosmopol venues in early 2024 led to a significant 66.3% decline in revenue, bringing in only SEK160 million for the year.
Q4 2024: A Strong Finish
The fourth quarter of 2024 stood out as the most lucrative, with revenues amounting to SEK7.61 billion, a 7.6% increase from the same period the previous year and a 14.3% rise from Q3. Online gambling maintained its dominance, generating SEK4.63 billion in Q4, up 6.2% year-on-year. State lotteries and slots were the fastest-growing sectors in this quarter, with an 18.5% surge to SEK1.71 billion. Non-profit games and national lotteries also saw a 5.2% increase, reaching SEK1.13 billion.
Future Considerations
The land-based casino segment’s downturn, exacerbated by venue closures, has prompted discussions about the future of physical gambling establishments in Sweden. In May, the government proposed discontinuing the Casino Cosmopol business, which would result in the closure of the remaining Stockholm venue by January 1, 2026. This proposal has faced criticism from regulatory bodies like Spelinspektionen, which argue that such a move could inadvertently encourage illegal gambling activities.
For stakeholders in the iGaming industry, Sweden’s 2024 gambling revenue trends highlight the growing importance of online platforms and the need to adapt to evolving market dynamics. As consumer preferences continue to shift towards digital experiences, operators may need to reassess their strategies to remain competitive in this changing landscape.
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