I'm a fellow game programmer from Sweden. My experience is a little different. I've worked in everything from indie to AAA and been part of recruitment on the AAA side.
In my own experience, it is true that a portfolio really helps you stand out. Recruiters often ask for your GitHub profile or blog.
However, I've found that recruiting really differs based on studio size. Indies tend to take what the can get, often forming a ragtag team of people with various levels of education and experience. AAA studios, on the other hand, are very discerning when it comes to programmers. They often won't give you a chance unless you either have solid experience or a university degree from a university they know is up to par. That's because there are so many talented programmers who really want to work in AAA
That is true but do they discern based on degrees?
I found that AAA studios will pick someone with game shipping experience and some good code examples on GitHub over someone with a university degree 9 times out of 10.
The degree does matter a bit more in AAA, especially R&D roles. These studios actually have some R&D to do. But for other roles and other company sizes… does it truly matter in Sweden? I mean, wouldn’t a decent portfolio (including just a list of titles they worked on) jump anyone to the front of the shortlist, ahead of degrees but weaker experience?
That’s been my experience.