SBC News Voice of the Sports Betting Industry
Paf has made a huge marketing move ahead of Finland’s highly likely, but not guaranteed, regulated market launch, partnering with Formula One legend Kimi Räikkönen.
The 2007 F1 world champion, who raced with Ferrari throughout most of his career, has signed a mulit-year brand ambassador partnership with the firm. However, the deal is subject to Paf securing a licence under the prospective Finnish market.
Paf is currently only active in the Finish autonomous island territory of Åland, but clearly has designs on national expansion should market reforms progress. Government proposals, which have broad political backing, look to abolish the monopoly held by Veikkaus Oy, the state-owned lottery, betting and gaming firm.
By securing a deal with one of the most notable Finnish sporting names of the 21st Century, and potentially closing Räikkönen off from other marketing partnerships, Paf could be setting itself up well to become a national, local hero brand in a new Finnish market.
“We’re proud to welcome Kimi to the Paf team,” said Thomas Näsman, Paf Manager. “He’s a true Finnish icon, and we value his honesty and no-nonsense approach, qualities that align perfectly with our brand.
“At Paf, we have bold ambitions to be the most responsible gaming company in the world while continuing to generate funds for the public good. As Finland moves into a licensed market, we’re excited to have Kimi with us on this journey.”
Finland has its foot to the floor on reform
As it stands, Finland looks set to launch a multi-licnece gambling market in 2026 or 2027. The most likely outcome will see Veikkaus retain a monopoly over the national lottery as well as land-based gaming, with private licences issued for online sports betting.
The bill proposed by the governing National Coalition Party (NCP) has broad parliamentary support, while even Veikkaus itself wants to see reform. The state monopoly believes that creating a multi-licence system is the only way Finland can address its channelisation challenges, which see many Finns bet with overseas companies.
This situation has also seen the Finnish state find itself at loggerheads with companies licensed in other countries but not in Finland, like Malta-licensed BML Group. Finnish authorities believe that overseas firms have been targeting Finnish consumers despite not being licensed there.
A potential open market in Finland has, understandably, caught a lot of attention, not least because this would leave Norway as the only remaining gambling monopoly in Scandinavia. This has in turn led to some companies making early preparations despite market launch not being fully set in stone, having yet to be fully approved by parliament.
ATG, Sweden’s horse racing betting operator, for example, partnered with Suomen Hippos, the Finnish Trotting Association, back in April, committing to launching a new joint gaming venture when the market goes live.
As it stands, Paf’s deal with Kimi Räikkönen stands out as one of the first marketing and sponsorship deals ahead of market launch. Paf has also hinted that its background of being founded by charitable organisations may have helped it secure the deal, suggesting that some athletes may be cautious about who they partner with as and when more operators join the market.
”To be honest, we were contacted by a few gaming companies that did not arouse our interest, but Paf’s contact did,” said Räikkönen.
“Paf’s history, openness, responsibility and Finnishness were the most important factors for me, not forgetting the directness, determination and fast working method of the people with whom the agreement was quickly concluded.
“As new opportunities are opening up for Paf in mainland Finland as well, I hope that our cooperation will be beneficial for Paf.”
