Sweden’s 2026 Gambling Reforms: Credit Card Ban Explained

Sweden, one of the world’s most regulated gambling markets, is preparing for reforms in 2026, and Erik Eldhagen was appointed for the role on November 27. Eldhagen assumed the State Secretary to the Minister of Financial Markets, meaning he will be responsible for gambling regulator, state properties and financing of nuclear power. Having previously served as the Head of the International Secretariat and having held positions within the Ministry of Finance, Eldhagen comes at an important moment for the country’s gambling scene.

Reforms are going to be put in place to amend the 2018 Gambling Act, which ended Sweden’s gambling monopoly and opened the iGaming market to privately run companies. The amendments aim to tackle the country’s escalating gambling related debt, to promote healthier gambling habits for players, and to tackle the threat of Sweden’s black market, albeit the latter is one of the smallest in Europe. They will come into effect on April 1, 2026, and with it, Sweden will effectively place a blanket ban on gamblers using credit cards or taking out loans to fund their gaming.

Eldhagen To Manage Swedish Gambling Reforms

In October, the Swedish Gambling Authority announced that it will introduce a sweeping set of gambling reforms, framed as a consumer protection and market integrity package. The goal, simply to bring back balance to the market, push channelization to licensed iGaming sites, and stop customers from using credit as a means to finance their gambling habits. Erik Eldhagen, the new State Secretary, will be given the job of making that a reality, and finding the best way to introduce Sweden’s new gambling reforms without damaging the status quo.

Because there are concerns that strict changes to the licensed scene could cause players to turn to alternatives – specifically – the gray market that falls outside the jurisdiction of the Spelinspektionen, or Swedish Gambling Authority. Though we have to point out, that while published data seems to suggest a decline in the channelization to legal platforms, the licensed Swedish iGaming sites still boast 85% of the market. Sweden is among the top countries for onshore, licensed gambling channelization, as is Denmark.

Looking at the iGaming climate in Finland, or that of Norway right now, Sweden is far ahead of its neighbouring jurisdictions. Norway, which has a longstanding monopoly on gambling, has one of the worst channelling rates, with many players turning to alternative, gray market sites. Finland is in a slightly better position, with around 75% onshore channelization to Norway’s 65%, but some analysts reckon the figures could range from 50% to 75%. Finland will reform its gambling laws in 2027, dismantling its state run gambling monopoly.

Banning Credit Cards and Loans

Reports earlier this year suggest that the consumer debt in Sweden reached SEK 138 billion ($14.7 billion) in January 2025. The figure, which comes from the Swedish Enforcement Authority (Kronofogden), is the general public debt – including mortgages, and personal loans – of which a percentage is gambling debt. It is a touchy subject, and one that some gambling authorities have already cracked down on. The most notable example is the UK’s Gambling Commission, which banned credit cards back in 2020. Others include:

• Australia: banned in 2024
• Brazil: banned credit cards and crypto payments in 2025
• Norway: blocked credit and debit cards payments in 2010
• Germany: banned in 2020

There are still many countries that allow credit cards to fund gambling, including Italy, Spain, the US and Singapore. It is perhaps one of the most dangerous means to fund gambling, and one that is highly contentious throughout the world. Though there are some possible exemptions to the blanket ban, such as charitable gaming, public gambling activities, and possibly even the state run lottery and Swedish keno products.

Protecting Well Being of Gamblers

Because gamers can essentially take out loans or spend money they don’t have to channel funds into their gaming accounts, it creates a hugely risky and dangerous environment for players. They can take out money they don’t have and then hit the blackjack tables or play slots. This breaks one of the core principles of responsible gambling:

Play within your (financial) means

Slots games, roulette, online poker and all the other gambling games are not financial investments or instruments to make money. They are first and foremost meant for entertainment purposes. There are no guarantees that a player will win money, even if they are on a losing streak, or feel that they are due a win.

Gambling doesn’t work like that, and when players borrow money to fund their gaming, it can become pretty disastrous very quickly. That is not to say Sweden has a major gambling problem, as licensed Swedish online casinos have to use the public self exclusion register and provide players with responsible gambling tools.

The public credit card and loans debt is not entirely due to gambling, not by any stretch. But that percentage that is contributed by gamblers who stake loaned money can be cut. And, for the well being of the gamers, Sweden has decided to follow the UK’s footsteps in creating a safer environment.

Tackling Sweden’s Black Market Channelization

The black market channelization rates in Sweden, as mentioned before, are promising compared to a lot of other European countries. While Sweden was not among the 7 regulators that formed a cross broder European gambling alliance in Madrid last month, the licensed onshore platforms hold a good share of the overall gambling market. Sweden has one of the most regulated gambling environments, and with the ban of credit usage, it will become a lot safer too.

The concerns about Sweden restructuring the payment options for licensed gambling sites will most likely not harm the channelization rates. While there aren’t publicly available records that show how many consumers:

• Make Credit Card Deposits
• Use Buy Now, Pay Later
• Take Personal Loans to Deposit

These reforms will most likely not impact the channelization rates. There are, however, precedents of players taking umbrage at restrictions such as:

• Enforced Deposit Limits
• Player Affordability Checks
• Restricted Bonus/Promotional Offers

Sweden has not indicated that it will introduce any new reforms besides the credit card bans, but with new leadership and plenty of time between now and the final deadline, there are possibilities for lawmakers to research further and add more clauses. In Spain, for example, the country is set to introduce an AI payment monitoring system to keep tabs on how much players spend at online casinos, to help study and deter any problem gambling behaviours. Spain also rolled out daily, weekly and monthly deposit limits, restricted the gambling advertising, and made it compulsory for operators to display public health warnings about gambling.

Could Bigger Reforms Be On the Way?

As of right now, Sweden’s gambling reforms seem quietly optimistic. Eliminating credit and loan usage to fund gambling may not wipe out the country’s public debt, but it will definitely help promote healthier gambling practices. Other countries may take note of the change and try to find ways of banning credit card use from their licensed platforms.

As we approach the deadline for the 2026 reforms, analysts also expect Sweden to amend its gambling advertising laws, make new operator obligations for public well being, and there are some who reckon tighter promotional limits could be on the way. The Swedish Gaming Authority is also dedicated to researching the channelization and public healthcare more comprehensively. Should the fruits of those studies point to a less favourable scenario than the 85% assumed channelization rate, then tougher reforms could be on the horizon.

In the meantime, should the reforms stay focused on credit use and public well being, Sweden could be onto a winner. It would be a major step for the new State Secretary, and a cautious one that doesn’t end up turning Swedes away from their favourite licensed online gaming platforms.