Smarkets builds international presence with Swedish betting licence

Smarkets has been awarded a licence to operate online betting in Sweden by the Swedish Gambling Authority as the firm looks to expand its international operations.

Smarkets expects to launch online betting in Sweden by summer 2020 following the licence award.

“We avoid grey markets, so we are continually looking at regulated territories where it makes business sense for us to be in, and the Swedish market is one of those,” a Smarkets spokesperson said.

The business is currently licensed for sports betting and exchange betting in the UK, Malta and the Republic of Ireland.

EGR Intel understands the business is also targeting licence applications in the Danish and Italian markets as part of this international pivot.

Smarkets COO Tom Hardman welcomed the licence award, saying it would enable the business to continue its programme of international expansion.

“Gaining a licence to take our platform to Sweden is part of our strategy to introduce Smarkets to more regulated territories across the globe, and that includes our upcoming launch in the USA,” Hardman said.

Smarkets inked a multi-million-dollar agreement with US casino operator Full House Resorts to launch its SBK sportsbook app in Indiana and Colorado last year.

EGR Intel understands the exchange firm is targeting a launch of operations in Colorado between May and June, with a further launch in Indiana planned for later in the year.