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Pinnacle re-launches in Sweden as fully licensed operator

16 Jun 2020

(PRESS RELEASE) -- The established sportsbook Pinnacle received approval from the Swedish regulator in December 2019 but has waited for the right moment to launch. When the Allsvenskan (Sweden's premier soccer division) was given the green light to start last weekend, Pinnacle decided to open its doors once more with a full array of markets in time for the new season through Pinnacle.

Pinnacle will offer a wide-range of sports and esports betting in Sweden, covering all major sports. Pinnacle is already a market leader in esports betting and with Sweden being one of the biggest esports markets in the world, there is significant room for growth. Before leaving the market in 2018 Pinnacle saw consistent double-digit annual growth in esports betting in Sweden.

Pinnacle will bring its well-known high-volume, low-margin model to Swedes betting online. With margins as low as 2% across major sports and leagues, compared to an industry average of 7.2%, Pinnacle offers some of the best value and fairest pricing available. The company operates a responsible, fair and transparent model for customers, which is evidenced by the fact that the business has been granted a licence to operate in Sweden, which has one of the most stringent regulatory regimes globally.

Paris Smith, CEO at Pinnacle:

“This re-launch 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.”

Pinnacle believes the long-term economic impact of a well-regulated online betting regime in Sweden could be notable, with a significant increase in the volume of bets in the coming years.
 
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