ATG, Sweden’s horse racing betting monopoly, has successfully appealed the $554,191 fine and raised questions about the gambling regulator’s actions. [Image: Shutterstock.com]
Swedish horse racing betting monopoly AB Trav och Galopp (ATG) has successfully reversed a fine of 6 million SEK ($554,191 USD). The country’s gambling organization, Spelinspektionen, issued a warning to ATG and issued a fine in August 2022 over anti-money laundering failures. The investigation discovered various shortcomings, including a focus on interactions with eight account holders.
ATG contested the ruling, claiming that it had properly implemented appropriate risk-based procedures. The Administrative Court of Sweden concluded that there were some shortcomings, but they were not significant enough to result in a fine and a warning.
He believes that the regulator should focus more time on supporting operators
ATG Hasse CEO Lord Skarplöth praised the decision and said it raises a number of bigger questions about Spelinspektionen. He believes the regulator should focus more on supporting operators in the licensed sector rather than punishing them.
Hasse Lord Skarplöth also believes that the regulator should devote time and resources to prosecuting unlicensed operators who target people in Sweden. Spelinspektionen now has three weeks to file its own appeal.