SBC News Voice of the Sports Betting Industry
Pinnacle has relaunched its low margin bookmaker services for the re-regulated Swedish online gambling marketplace, ending its two-year hiatus.
Coinciding with last weekend’s start of the delayed Allsvenskan Swedish football season (14 June), Pinnacle arrived with a “full array of markets”.
Recognised as one of the industry’s oldest online sportsbooks (founded in 1998), Pinnacle had secured its Spelinspektionen sports betting licence in December 2019.
Pinnacle believes there is significant room for growth in Sweden, and particularly for esports, for which it saw consistent double-digit annual growth before leaving the market in 2018.
Underlining confidence in its Swedish market ambitions, Pinnacle pointed to its high-volume and low-margin operating capacity, which has delivered an on-average sportsbook betting margin of 3.7% against the industry average of 7.2%.
Pinnacle CEO Paris Smith underlined that the legacy sportsbook holds a proven playbook for the market, offering its punters ‘the best market value and fairest pricing available’.
She said: ”This relaunch is a proud moment as Sweden is a key market for us, with many loyal customers having used Pinnacle over many years.
“The Swedish regulator is one of the most respected in the world and we are proud to meet the incredibly high standards they require to be recognised as a licensed operator. We believe that satisfying the requirements in Sweden means we can do it anywhere.
”We left the market on good terms and are returning as a fully licensed, regulated operator. We fully embrace the Swedish regulations and wanted to do things in the right way. Having done so, we now see this as an opportunity to contribute to a serious gaming environment in Sweden long-term and to be a key part in the development of the market.”
