The new licence, granted to the firm’s B2C subsidiary Vivaro Limited, allows BetConstruct to operate in Sweden – where 97 companies now have active licences. It covers sports betting and online gaming via the Vbet and Ohmbet brands, and runs until June 2023.
Vigen Badalyan, BetConstruct CEO, said: “While this has been a long and arduous road, we are honored and excited today to have the approval of the Swedish Gambling Authority.
“BetConstruct gets the green light to offer its robust and advanced solutions in the Swedish market, where operators will benefit from our software in a secure and reliable environment and as seamlessly as in other regulations.”
It is the latest strategic step for the technology provider, having extended its global presence across many markets. The SGA licence is an addition to the approvals from MGA (Malta), UKGC (UK), ARJEL (France), ADM (Italy), WCGRB (South Africa), GSC (Isle of Man) and ONJN (Romania).
The Swedish market has faced criticism in recent weeks for overdoing restrictions on licensed sports betting and online casino operators, thereby pushing punters to the illegal market.
The country’s online gambling trade association Branschföreningen för Onlinespel (BOS) believes that channelisation numbers for regulated sports betting and online casino in Sweden could be as low as 80-85 and 72-78 per cent respectively.