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Finnish gambling market projections

Athira A

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Finnish gambling market projections
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Veikkaus, which is a Finnish state-owned company, has the monopoly over all gambling activities in the country. The company provides a wide array of games, including the Finnish national lottery, fixed odd betting, football pools, scratch tickets and so on. In total, there are 20 different kinds of games organized by the company. Most of its revenues are derived from the national lottery, which is extremely popular among the Finnish population. Interestingly, Veikkaus is managed by the Finnish Ministry of Education and the proceeds from its operation are channeled back to it. In 2010, these profits amounted to 463 million euros. The rules of the games, on the other hand, are controlled by the Ministry of Internal Affairs.

This model of regulating gambling activities in the country has been ubiquitous in the Nordic countries, but recently a new trend of liberalization has emerged. The national monopolies are having a harder time maintaining a customer base as people are switching to the online casinos, which are more difficult for the authorities to keep away. Internationally licensed online gambling providers are still able to reach the customers in countries where it is illegal for privately owned companies to provide these services. Some countries have tried to employ the banking sector in order to limit the power of such companies to process transactions for the customers. There has been a case of resorting to Apple in order to remove some gambling applications from the App Store as well.

As stated by the editor of the Finnish website Netti-casino.biz, it is interesting to see what path Finland will take when it comes to liberalizing the gambling market. There is a precedent for both liberalization as well as toughening of the regulations. Sweden and Denmark are already accepting applications from private companies for gambling licenses, while Norway is trying to strengthen the hold of its national monopoly over the market. There are no signs as to which direction Finland will follow yet. There are some obvious advantages to be had with liberalization. The government is not able to collect taxes from underground markets, which emerge when activities that are in demand are banned by the regulators. With a regulated market, it could see a surge in the tax revenues.

Online gambling is gaining popularity in Finland

Veikkaus’ revenue report shows an increase in the share of the digital activities. The company’s digital revenue increased by 10% from last year and in Q1 comprised 44% of the total revenues generated. The number of weekly active online customers stands at 626,000, which is an 11% increase. This shows that the monopoly is coping successfully with international providers, which might give the regulators less incentive to liberalize the market. Veikkaus claims to have captured 90% of the online market and furthermore, plans to “renew the company’s strategy in 2018 to respond to the strong change in the operating environment.”

Source: http://netti-casino.biz/casinouutiset/ennuste-suomen-rahapelimarkkinoille/

Athira is a self-described “logophile” – a lover of words. She loves updating her vocabulary and playing around with words, to frame a sensible world of letters. Letters come alive when they become words and when words become sentences. And that’s her job, to put them together in a meaningful way without loosing its essence. She has written content for websites, articles and poems for an international magazine, and press releases as well. She also loves writing on social media. She holds a Masters degree in bio-technology, but she has always been interested in the organic farming of words. Besides writing content for our daily news feed, she is also working as staff writer/editor with Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Compliance Updates

Belgium restricts iGaming advertising

Niji Ng

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Belgium restricts iGaming advertising
Photo Source: americantargetnetwork.com
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Belgium’s government has issued stricter regulations against iGaming advertising, as part of its effort to protect children from the ill-effects of all forms of gambling.

The Belgian parliament okayed the new regulations after close to a year of deliberations. The most significant feature of the new regulations is the total ban on online casino TV advertising.

According to the new regulations, there will be restrictions on other forms of casino advertising too. Online casino operators will be allowed to advertise their services only on government approved websites. There will be a ban on sports betting on TV before 8 pm. No forms of marketing will be allowed during live sports broadcasts. Celebrity or athlete endorsements of gambling companies will also be prohibited.

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Asia

Malaysian deputy minister accepts it is difficult to tackle online gambling

Niji Ng

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Malaysian deputy minister accepts it is difficult to tackle online gambling
Photo Source: thesundaily.my
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Malaysia’s Deputy Home Minister Datuk Mohd Aziz Jamman has publicly conceded that the country has no effective way at present to completely block online gambling servers. He also acknowledges that the country has no effective mechanism to deal with about 700,000 dubious prepaid mobile phone accounts that may be used for illegal gambling.

The minister, nevertheless, provided the extensive and ongoing efforts to curb illegal online gambling by Malaysian enforcement bodies. He added that new measures are required for enforcement agencies to stop online gambling completely.

“Online gambling servers are located abroad and these are identified by their Internet Protocol (IP) addresses,” he explained. “When the police or the Malaysian Communications and Multimedia Commission (MCMC) block an IP number, gambling operators can change it in a split second.”

Mohd Aziz also told lawmakers that it was difficult for authorities to crack down on online gambling using mobile phone apps.

“It was previously mentioned by the Communications and Multimedia Minister that there are some 700,000 dubious prepaid mobile phone accounts. This makes it hard for authorities to gather information as the gambling operators are operating underground,” he said.

The minister also pointed out the difficulties to prove online gambling when no physical transaction of money takes place. “When they are caught, they say it’s just an online game as no money is involved,” he said, going on to assure lawmakers that the police are currently looking at ways to effectively deal with these problems.

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Gambling in the USA

Steve Wynn moves court against Wynn Resorts and the Massachusetts Gaming Commission

Niji Ng

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Steve Wynn moves court against Wynn Resorts and the Massachusetts Gaming Commission
Photo Source: thesundaily.my
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Steve Wynn, the ousted co-founder of Wynn Resorts, has filed a case against his former company and the Massachusetts Gaming Commission in his bid to block the release of any investigative report that might leak “privileged material.”

Wynn’s allegation is that his former company wrongly handed over privileged documents to the Massachusetts Gaming Commission for its investigation into allegations of misconduct raised against him in Wall Street Journal in February. He resigned from the company’s board following the allegations and sold his entire 12.1 per cent stake in the company. Wynn’s lawsuit argues that the information contained in materials handed to the commission was subject to attorney-client privilege during his time as Wynn Resorts CEO.

 “Recognizing that they have conducted their months-long investigation into Wynn Resorts with total disregard for protecting the privileged communications of Mr Wynn—who, again, has no ability to determine what communications and materials have been provided to regulators—Mass Gaming officials have simply donned the judge’s robe, cracked the gavel and unilaterally determined that Mr Wynn has failed to sustain his burden of establishing that any privilege applies to the unknown universe of documents acquired during the Mass Gaming investigation,” the lawsuit states.

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