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Veikkaus Continues to “Reign” in Gambling Market

11 January 2021, 10:33
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It may seem that there will be no news about the gambling industry’s changes in Finland until Veikkaus leads its market. However, a new package of reforms may come into force soon.

Veikkaus Continues to “Reign” in Gambling Market

The Finnish gambling monopolist isn’t going to give its place to other market participants in the nearest future as the state will continue controlling this vertical. The government is ready to reconsider the Lotteries Act, and the operator will be obliged to follow all the requirements.

Reforms will improve customer protection

The Ministry of the Interior has informed that it has plans to make changes in the current gambling law. The upcoming reforms will be connected mainly with consumer protection. The government will reinforce its monopoly in the industry by detecting and eliminating foreign gambling services for Finns.

The Ministry will create a list of non-regulated platforms, which are located outside the country but available to Finnish gamblers. Banks and payment systems will be obliged to detect and prevent transactions between such websites and users. Although the level of the Finns’ engagement in local gambling is quite high – more than seventy percent – some percentage of gamblers still choose non-regulated platforms sometimes.

In addition to the prohibition of gambling on offshore websites, the government also has an intention to ban the promotion of slots and implement player identification. Sports betting isn’t included in this marketing ban because, according to the Ministry, it will limit Veikkaus’s ability to reach its audience.

Read more: Gambling in Europe: how to become a licensed operator

Read more: The UK national lottery: players’ guide

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