Connect with us

WINNING COMBINATION - SOFTSWISS develops innovative iGaming software products for online casino, sports betting, and beyond. Our products can be delivered as standalone solutions or combined into a single iGaming Platform.

The future of sports betting: BETBY sportsbook is focused on innovation through deep industry knowledge, state-of-the-art software & endless customization possibilities.

Latest News

Online gambling reaches 44% of sales at Finland’s Veikkaus

Published

on

Online gambling reaches 44% of sales at Finland's Veikkaus
Reading Time: 2 minutes

Finland’s state gambling monopoly Veikkaus announced a slight dip in sales during Q1 of 2018, partly due to the introduction of new responsible gambling tools.

Figures released this week show Veikkaus generating sales of €805.6m in the three months ending March 31, down 1% from the same period last year. On the plus side, net revenue improved 2% to €256m.

Veikkaus comprises three previously standalone gaming operations – lotteries and sports betting, slot machines and horseracing – that were amalgamated under the Veikkaus banner at the start of last year.

Traditional lottery and keno sales were up 4.2% to €303.5m, while slots revenue (land-based and online) rose 6.7% to €207m.

Combined sports and race betting revenue fell 3.8% to just under €150m due to slack retail betting activity. Retail wagering was down 14.6% while online betting eked out a modest 0.8% rise.

Live betting improved more than one-quarter, but the expected betting bonanza from the Winter Olympics failed to materialize, which Veikkaus blamed on the significant time difference between Finland and South Korea.

Veikkaus’ digital revenue improved by 10% year-on-year, bringing digital’s share of Q1’s overall sales to nearly 44%. Weekly active online customers were up 11.4% to 626k.

Veikkaus claims to have captured “almost 90%” of the country’s overall online market in Q1 but says it recognizes that it needs to compete with internationally licensed operators and thus it has decided to “renew the company’s strategy in 2018 to respond to the strong change in the operating environment.”

In December, Veikkaus announced a new responsible gambling program that, among other things, requires land-based slots players to verify their identity before the machines will operate. To date, roughly 45% of Veikkaus’ 2.1m registered customers have used the new verified card system.

Veikkaus also introduced a new online program that allows users to set deposit and spending limits in advance, and launched a promotional campaign via TV, digital media and land-based venues to alert users to the new program. In March, a Veikkaus survey indicated that 95% of respondents claimed to be aware of the program.

 

Source: calvinayre.com

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Advertisement

Trending (Top 7)

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.