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How the gambling landscape may look in Finland in 2024 and beyond

Published

8 months ago

December 14, 2023

Reading Time: 4 minutes

Following the recent big announcement by the Finnish government to restructure its gambling system, many gaming enthusiasts are curious to know what the Finnish gambling landscape may look like in years to come. Will Veikkaus, the state-owned gambling monopoly, loosen its dominance and control and allow more operators to join the market? How will these new reforms affect punters?

In this article, our team of Finnish gambling experts answered these questions and delved into the current state of gambling in the country. We also gaze into the crystal ball to share our view of what we believe the gambling landscape may look like in 2024 and beyond.

The current state of gambling in Finland

Unlike its peers in the European Union, the Finnish government adopts a unique approach to gambling regulations. The state operates a monopoly system that emphasizes responsible gambling and revenue generation.

Below, we take a look at the main aspects of the current regulatory framework.

Gambling Licensing

Veikkaus, the state-owned gambling operator, is the sole provider of most gambling services in the country. The entity also holds the exclusive right to issue licenses to operators interested in offering online or land-based gambling services to Finnish punters.

To get a gambling license, operators must prove their strong commitment to responsible gambling and show their ability to offer quality gaming services. Gambling regulations are very strict, and Veikkaus monitors operators regularly to ensure compliance. Non-compliance by operators often results in hefty fines or license withdrawals.

Taxation

As mentioned earlier, revenue generation is one of the main focuses of the country’s gambling monopoly system. The government charges taxes on gambling winnings that exceed a specified amount. Likewise, the profits of all gambling operators in the country, including casino without registration and Veikkaus, are subject to taxes.

This way, a considerable amount of money flows from the gambling market into the national coffers. The state uses this revenue to fund social welfare and cultural projects such as education, youth services, sports, arts, and more.

Offshore Gambling Operators

Despite the government’s monopoly, a significant number of Finnish gamblers wager and play their favourite games at foreign online betting sites and casinos. Although these foreign sites offer punters more gaming options, they come with some challenges and risks as the Finnish Authorities do not regulate them.

In other words, Finnish players have less protection even while playing at legitimate offshore online gambling sites. Regarding tax, offshore operators don’t pay taxes to the Finnish government. Also, it’s the sole responsibility of players to declare their gambling winnings and pay taxes on them.

Responsible Gambling

Ensuring responsible gambling is the core objective of Finland’s gambling monopoly system. The state has several programs and tools to monitor its citizen’s gambling behaviour and keep it in check. Some of these programs include:

Awareness campaigns to let the public, especially regular punters, know the potential risks of gambling
Development of self-exclusion tools to allow gamblers or those with gambling problems to exclude themselves from online and offline gambling activities for a set period.
Counselling activities for those who need help to overcome their gambling addiction
Limiting tools to allow gamblers to set their daily, weekly, or monthly deposits.

The compulsory stop-loss

Introduced during the COVID pandemic, Veikkaus made the compulsory stop-loss limit permanent for all Finnish gamblers. The announcement limits players’ daily gambling spending to €500 daily and €2,000 monthly.

On top of this, Veikkaus now allows players to set their stop-loss limits on their slot machines. This means players will no longer be able to gamble once they hit their daily, weekly, or monthly loss limits.
According to Veikkaus, these recent regulations impacted their operations both positively and negatively. Although they reported that problem gambling has reduced to an all-time low, Veikkaus also acknowledged that their revenue has dropped significantly.

What to expect in 2024 and beyond

Following the drop in Veikkaus’ revenue and concerns about losing a big share of the gambling market to offshore operators, the Finish government announced that it is looking at reforming the country’s gaming system. Two main changes players can expect in the near future include:

A gradaul end to Veikkaus’ monopoly

The state announced in April that it is working on a proposal to end Veikkaus’ monopoly by introducing a gambling licensing model that will allow private gaming operators to compete in the Finnish market. The state admitted that more and more players are gambling outside its controlled monopoly, and there is an urgent need to prevent the gambling-related problems that may follow.

According to available reports, the government is considering two options: strengthening its current state-controlled monopoly or switching to the licensing model. However, it seems that the odds are in favour of the licensing model. So, gaming enthusiasts can expect Finland to roll out a new licensing system, responsible gambling tools, and a new gambling tax policy in the coming years.

Mandatory player verification

Like the recently implemented player identification requirement for Coupon games, Veikkaus is set to introduce a similar rule for scratch card games. In other words, players interested in Ässä and Casino lottery must verify their identity before they can claim their winnings.

As with the current Coupon game identification procedure, more players will have to complete a similar process using their driver’s license, Veikkaus card, mobile card, or other personal identification card. Veikkaus noted that many of their Coupon game customers have completed the verification process, so they expect to record the same success with their Ässä and Casino lottery customer base.

Bottom Line

Our experts believe the Finnish gambling landscape will evolve responsibly and positively in line with international standards in 2024 and beyond. We expect Veikkaus to lose its monopoly, giving room for more private operators. Finnish gaming enthusiasts will have more gambling options and better gaming experience in the coming days.

We are already seeing these benefits with the recent partnership of Pragmatic Play with Veikkaus. Unlike before, Finnish players can now enjoy some selection of Pragmatic Play’s games, including Gates of Olympus and Sugar Rush.

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Win tickets to the BLAST Premier Fall Final: GG.BET is running a MEGA BLAST Competition for fans of СS2

Published

3 hours ago

July 26, 2024

Peter Tolan

Reading Time: 2 minutes

From 26 July, all GG.BET users can get involved in the new MEGA BLAST Competition with a €10,000 prize fund. The winner will receive two tickets to the BLAST Premier Fall Final CS2 tournament, taking place from 27-29 September in Copenhagen. To enter, you need to place bets on Counter-Strike 2 matches.

BLAST Premier Fall is a major series of Counter-Strike 2 tournaments which draws in millions of viewers from all over the world every year. The series consists of three stages: Groups, Showdown, and Finals. The Groups stage sees 16 Tier-1 teams duke it out. Only 6 of these can go on to compete in the final, while the rest will battle it out in the Fall Showdown for two additional spots in the final. BLAST Premier Fall Finals will be the concluding stage of the Fall series, and fans can look forward to electrifying action, heart-stopping twists and turns, and an epic $425,000 prize fund.

From 26 July to 4 August, as the Groups stage rages on, GG.BET will be holding its MEGA BLAST Competition. The winner will get their hands on two tickets to attend every day of the BLAST Premier Fall Finals. As well as these tickets, the bookmaker is also giving away a whopping €10,000 prize fund to the top 40 participants in the MEGA BLAST Competition.

How to take part in the MEGA BLAST Competition:

Register an account with GG.BET or log in to an existing account.
Go to the tournament page and press “Participate”.
Place bets on Counter-Strike 2 matches. Every bet you place will earn you a certain number of points, based on the odds.
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MANCHESTER CITY TO MARK GLOBAL PARTNERSHIP WITH SUPER GROUP-OWNED BETWAY AT THE NEW YORK STOCK EXCHANGE

Published

3 hours ago

July 26, 2024

Peter Tolan

Reading Time: 2 minutes

Manchester City has today announced a new multi-year partnership with leading global online betting and gaming brand, Betway.

As part of the club’s pre-season tour of the United States, and to mark this significant deal, leading figures from Manchester City and Super Group will be on-site for the iconic NYSE bell-ringing ceremony later today. Ferran Soriano, CEO of City Football Group, along with Neal Menashe, Super Group CEO, will ring The Opening Bell at 9:30am EDT.

The agreement will see Betway become the club’s Official Global Betting Partner from the start of the 2024/25 season, as Manchester City joins the brand’s extensive sports sponsorship portfolio which includes teams from across the Premier League, La Liga, NBA and more.

Ferran Soriano, City Football Group CEO, said: “We are pleased to announce Betway as our Official Global Betting Partner today. As a globally recognised brand, Betway has a strong pedigree and history of working with high-profile brands within the sports space and we’re excited to work together throughout the partnership.”

Super Group CEO, Neal Menashe, commented: “We are absolutely delighted to become Manchester City’s Official Global Betting Partner. This agreement cements our place in the top tier of Premier League partners, ensuring that our Betway brand reaches fans in all corners of the globe.”

Throughout the duration of the partnership, Manchester City and Betway will collaborate on a number of activations and exclusive content opportunities, in addition to the brand featuring across digital and in-stadia assets.

Manchester City and Betway will also work together to provide all players, coaches, management and staff in-depth, industry leading training on all relevant codes of conduct relating to betting integrity and responsible gambling. This is in addition to the work Manchester City already does to support players and staff in this area.

The Opening Bell ceremony can be viewed live.

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Acquiring a Curacao Online Gaming License in 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed

Published

4 hours ago

July 26, 2024

Peter Tolan

Reading Time: 2 minutes

The “Acquiring a Curacao Online Gaming License, 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed” report has been added to ResearchAndMarkets.com’s offering.

This report includes valuable insights into the financial and procedural aspects, including detailed information on costs and timelines associated with acquiring a Curacao license.

In 2023, Curacao introduced the “Landsverordening op de kansspelen” (Ordinance on Games of Chance) to modernize and regulate gambling legislation. Since March 2020, the Gambling Control Board (GCB) has been authorized to regulate offshore gambling games and oversee the issuance of Curacao licenses. As of 2023, there are 16 companies providing legal services for registration and licensing in the territory of Curacao. The license fee, as per GCB regulations, is 36,000 ANG or 19,800 USD, payable upon license issuance.

Research Timeline and Data Relevance

The research was conducted in two stages. The first stage, studying the regulator and Open Data Search, took place in December 2023. The second stage, writing the report and partially updating the data from the first stage, took place from the end of April to the end of May 2024.

Goals and Objectives

Describe the information about the Curacao license and the issuing regulator.
Describe the requirements and conditions for obtaining a Curacao license.
Describe the costs and timelines for obtaining a Curacao license.
Briefly study the market, find and suggest the following lists:
- Legal companies offering services for company registration and obtaining a Curacao license;
- Communication agents and integrators working with the Curacao license;
- Suppliers and vendors working with the Curacao license;
- Payment systems working with the Curacao license.

Key Topics Covered:

1. Goals and Objectives

2. Research Timeline and Data Relevance