Finland contemplates licensing from Veikkaus’ monopoly

Finland contemplates licensing from Veikkaus’ monopoly

Home » Finland contemplates licensing from Veikkaus’ monopoly
Finland contemplates licensing from Veikkaus' monopoly

In an interview, Finnish Minister of European Affairs and Ownership Steering Tytti Tuppurainen said Finland will investigate ending its gaming monopoly. Tuppurainen thinks the investigation will begin in early 2023.

Veikkaus Possible transition:

Veikkaus -The minister added both the administration and opposition parties agree that the state monopoly should cease. “As the minister of ownership, I hastened to submit a report on a possible transition to a multi-license system,” said Tuppurainen. “It is only a good thing that the opposition also shares this perception.”

The probe begins a few months before the general election. The ministry instructed the investigation to write the license system transition before 2 April 2023. According to Tuppurainen, government changes after the elections may disrupt the transition process if there is no blueprint before this date.

“There are legislative elections next spring, and it would be ideal that by the time of the government negotiations, we would have enough knowledge to make policies,” she said.

Gambling providers’ equality:

Tuppurainen added that the license scheme will equalize gambling suppliers. Non-licensed companies have no player protection, while Veikkaus, the state gaming operator, has tight deposit limitations.

“Right now the game businesses from outside operate as if in a vast grey zone,” she added. “They are not subject to the same liability laws that apply to Veikkaus,” stated the minister. “The scenario naturally causes gaming disadvantages and at the same time the taxman’s hand is twisted, which means that the revenues from gambling also flow past Finland to foreign countries.”

Veikkaus Monopoly fails monitoring:

The government-owned Veikkaus monopolizes gambling in Finland, including lottery and slot games. The entity was founded in 2017 when the previous three monopoly operators were combined into one corporation controlled by the state. Sari Multala, National Coalition Party MP, said the transition would not affect Veikkaus’ lottery and land-based casino gaming monopoly. She stated that single-provider verticals are easier to govern.

“Online, [existing] regulation cannot fulfill our goals. “Monitoring is easier offline,” added Multala.

Industry organizations want the Finnish monopoly system abolished. The appropriate governmental authority recently stated that Veikkaus’ monopoly is “practically broken” and that alternatives should be investigated.

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