The Swedish Gambling Authority (Spelinspektionen) issued a five-year permit for sports betting to the Kambi Group plc, which will help the company strengthen its position in this important European market.
Swedish license:
Kambi Group plc is one of the leading sports betting providers in the industry, and this license agreement will surely improve its position in the market even further. These B2B permits will help Kambi to continue providing its unique and popular sports betting technology and services to Sweden’s most popular licensed operators.
The news, recently revealed by the Swedish Gambling Authority, is great for all included parties since the operators will continue to get the content from Kambi for another five years, starting from July 1 this year.
The license has been required in Sweden since last year when the new regulations were made. Since then, the operators have had to get new licenses that will enable them to offer their services in Sweden. These measures were conducted in order to reduce the number of wagers on the black market and improve channelization.
Kambi is one of the companies listed on Nasdaq’s First North Growth Market in Stockholm. The company currently operates in more than 50 regulated markets all over the world and derived 94% of its revenue from various markets that operate in local regulatory frameworks during the last year.
David Carter, Chief Legal Officer at Kambi, said: “We are pleased to have obtained the necessary B2B gambling permits for Sweden, which, given Kambi’s heritage, has long been one of our most important markets. This further showcases our commitment to upholding the utmost standards of compliance and regulatory requirements, which is a cornerstone of Kambi’s success as the world’s leading B2B sportsbook.”
Two awards for Kambi:
This isn’t the only success from Kambi’s studio. At the recently held EGR B2B Awards 2023, the company won two prizes.
The event was held in London, and it’s known as one of the most prestigious in the whole iGaming and sports betting industry.
Kambi won the Sports Betting Supplier award, as well as the accolade for Innovation in Sports Betting Software award.
Sports Betting Software award is granted for developing its unique AI-driven software for trading capability. The trading system powered by the strong algorithm was launched just before the World Cup last year. This launch enabled the company to elevate the odds of creation without any human intervention. Its pricing and trading of odds were more advanced than any of the other sportsbooks were able to offer.
Kambi is famous for its advanced solutions, so the company won an award last year as well for its popular Bet Builder.
