Tag Archives: Veikkaus OY

A Finnish law firm has informed the Helsinki Times that betting and gambling are the third biggest growth drivers of over-indebtedness among Finns. Takaisinperintä, a law firm which specialises in serving financially vulnerable clients, told the outlet that it had conducted a survey of 765 heavily indebted people, asking them what they had taken out payday loans for. A total …

Sweden’s AB Trav och Galopp (ATG), the operator of horse racing betting in the country, has signed a deal with one of Finland’s leading racing bodies ahead of gambling market regulation in the latter country. The Swedish firm has partnered with Suomen Hippos, the Finnish Trotting Association, to launch a new joint gaming venture to target the anticipated multi-licence Finnish …

KELA, the Social Insurance Institute of Finland has revised its policy on gambling and social benefits effective from October 2024. The Institute serves as the general provider of economic assistance and securities for Finnish communities and citizens. With the new policy, KELA will now examine both winnings and gambling expenditures when assessing economic support for individual recipients. Previously, KELA only …

Finland’s government has been advised to maintain an open approach to marketing and customer incentives as it begins its roadmap to launch a new gambling regime in 2027. The recommendation comes from the European Gaming Betting Association (EGBA), the Brussels-based trade group promoting unified standards for regulated European gambling markets. The EGBA welcomes Finland initiating a timeframe of 2024 to …

Finland’s Institute of Health and Welfare (THL) has expressed doubts about the government’s overriding ambitions to launch a new gambling regime. In July, the Ministry of the Interior opened a consultation seeking feedback from government agencies and departments on Finland launching a modern gambling regime in 2027. The timeframe of 2024-to-2026 will see state-owned gambling group Veikkaus Oy end its …

The Ministry of the Interior of Finland has submitted its draft proposal of a new Gambling Act to modernise Finnish gambling in line with recommendations previously put to the government.  As formerly proposed, the new Gambling Act will end the ‘monopoly arrangements’ of state-owned gambling firm Veikkaus Oy, which currently has an exclusivity over sports betting and online casino games.  …

Finland’s state-owned gambling monopoly Veikkaus Oy has initiated several structural changes ahead of a planned legislative overhaul of the country’s gaming licencing system. Under plans by the Finnish Ministry of the Interior, the monopoly held by Veikkaus is set to end in 2026, being replaced by a ‘partial licence system’. Veikkaus will remain exclusive licensee for lottery and land-based gaming, …

A legislative project announced this week by Finland’s Ministry of the Interior for the abolition of the monopoly held by Veikkaus Oy over gambling in the country has been warmly received by the European Gaming and Betting Association (EGBA). The pan-European trade body has outlined joint-objectives with the Finnish government over the decision to end the Veikkaus monopoly, which is …

The political process to overhaul Finland’s licensing system and end the current monopoly held by Veikkaus Oy is underway, according to the country’s Ministry of the Interior. To prepare for this transition, the Ministry has initiated a project to draw up ‘necessary legislative proposals’ for reform, particularly concerning the allocation of licences and the framework behind this. This will include …

Finland’s government has confirmed the scope and time frame of the country’s reforms of its gambling licence system, setting an expected date for the end of Europe’s last gaming monopoly. The changes were announced in the government’s latest agenda, along with a range of other legal changes. According to authorities, interested stakeholders can expect a change away from the current …