Connect with us
SOFTSWISS

Latest News

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

Published

on

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:

  1. Awareness campaigns to let the public, especially regular punters, know the potential risks of gambling
  2. 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. 
  3. Counselling activities for those who need help to overcome their gambling addiction
  4. 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.

 

Latest News

BOS agrees with KV’s/KO’s advertising assessment of “Trisskrapet” in TV4

Published

on

Reading Time: < 1 minute

The Swedish Trade Association for Online Gambling (BOS) agrees with the Swedish Consumer Agency’s (KV) and the Consumer Ombudsman’s (KO) assessment that the daily scratch card commercial “Trisskrapet” in TV4 is an advertising feature, and thus not an editorial feature. BOS welcomes that KO is now ending that part of the process.

If Svenska Spel does not stop the advertising elements, BOS looks forward to KV following up on its earlier call to Svenska Spel to comply with the provisions on advertising identification and broadcaster declaration in section 9 of the Marketing Act and the information obligation in ch. 15. Section 3 of the Gambling Act with information on the 18-year-old age limit and where to turn in case of gambling problems.

– The Swedish gambling market must be characterized by a high level of consumer protection. A cornerstone of good consumer protection is that people are clear about what constitutes gambling advertising, i.e. that they are not tricked into thinking that an advertising feature would instead be an editorial feature. The daily “Trisskrapet” on TV4 has been anything but clear on that point, and we welcome that KO now finally establishes that the features constitute advertising and nothing else, says Gustaf Hoffstedt.

– Now it remains for Svenska Spel to introduce the mandatory consumer protection labelling of Trisskrapet. Since the company has not shown any excessive eagerness to introduce this voluntarily, KO should ensure that this happens as soon as possible. Every day and every “Trisskrapet” that does not contain the mandatory consumer protection label is another lost day for a safe and secure gambling market, Gustaf Hoffstedt concludes.

Continue Reading

Balkans

Expanse Studios Launches in Bulgaria with Inbet

Published

on

Reading Time: < 1 minute

 

Expanse Studios, a leader in online gaming innovation, has secured a Bulgarian iGaming license and is now live on Inbet’s website. This expansion brings Expanse Studios’ popular game offerings including turn-based strategies gamified for iGaming, classic slots, traditional card games and the highly-acclaimed ones like Titan Roulette, Clown Fever Deluxe, Wild Icy Fruits, White Wild Whale and Joker Poker to Bulgarian players.

Diverse Gaming Portfolio Now Available to Bulgarian Players

With the Bulgarian market entry, Expanse Studios introduces a versatile gaming experience to Inbet’s platform. The offerings include a dynamic range of games tailored to diverse player preferences:

  • Turn-based strategy games: Leveraging gamification, these games transform traditional strategy gameplay into engaging iGaming experiences, suitable for both novice and experienced players.
  • Classic slots: Players will enjoy a variety of themed slots that combine traditional gameplay with modern graphics and sound.
  • Traditional card games: A selection of popular card games offer something for every card game enthusiast.
  • Titan Roulette: This standout feature, known for its immersive experience and innovative design, continues to be a favorite among roulette players.

Commitment to Quality and Compliance

Expanse Studios not only cultivates a diverse gaming library but also adheres to stringent regulatory standards to ensure a secure and fair gaming environment. The acquisition of the Bulgarian iGaming license is a testament to Expanse Studios’ commitment to compliance and excellence in the gaming industry.

The partnership between Expanse Studios and Inbet marks a significant milestone in Expanse Studios’ expansion efforts. By combining Expanse Studios’ innovative gaming solutions with Inbet’s established market presence, both entities are set to offer a superior gaming experience to players in Bulgaria and potentially beyond. As Expanse Studios continues to develop and release new games monthly, Bulgarian players can look forward to a continually evolving and enriching gaming landscape.

Continue Reading

Latest News

Week 17/2024 slot games releases

Published

on

Week 17/2024 slot games releases
Reading Time: 5 minutes

 

Here are this weeks latest slots releases compiled by European Gaming

Belatra Games, the specialist online slots developer, is on point with its latest sharply designed game, Golden øks. This Norse-inspired adventure carries on from the popular Axe of Fortune title that hit the market at the turn of the year. Golden øks is set against a 5×3 layout and is brought to life with a powerful soundtrack to heighten the atmosphere.

Belatra grows games portfolio with Golden øks title

Endorphina, has announced the release of its brand-new title, Jolly Queen, which will join its portfolio on April 27th. Jolly Queen is a 5-reel, 5-row fruit slot with 50 fixed paylines, introducing players to the lifestyle of the nobles. On top of the aristocratic ambiance, Jolly Queen provides players with Free Games, allowing them to master the reels.

Endorphina releases its newest title - Jolly Queen!

Evoplay has released Candy Craze, a vibrant slot stacked with features and modifiers, including the powerful Gum Drop Multiplier which boosts win potential. Set amidst the backdrop of sumptuous sweets within a cloudy landscape, the 5×5 cascading reels title gives players a sugary rush when the Gum Drop Multiplier activates, revealing a mystery value at the end of each winning spin up to x100, enhancing the chance for wins during the main game and Free Spins.

Yggdrasil, a leading iGaming publisher, has revived the gold rush in a jackpot-filled game that embodies the spirit of old west prospecting in Gold Frontier Jackpots FastPot5™. Fans of lower volatility slots with straightforward mechanics that get fortune seekers right to the heart of the action are tasked with gathering keys to enter the treasure bonus game.

Relax Gaming is offering players some opulence in its latest release Sultan Spins. This high volatility slot sees its gold-trimmed reels set against a sprawling desert metropolis. Players have the chance to rack up riches via an entertaining free spins feature and lucrative local jackpot.

Greentube has introduced its latest title in the popular Diamond Link ™ series, Diamond Link ™: Mighty Dwarves Inc. Set deep in underground mines, this adventurous 5×3 slot is packed with innovative features for ample chance to win across its 25 paylines when players spin the reels adorned with hammers, hard hats and laser symbols.

Get your eyes ready because it’s time to take a trip to the pet centre to meet the ugliest, quirkiest, wildest-looking pets you’ve ever seen in the brand new slot, Fugly Pets, from Stakelogic. Fugly Pets takes players to a banged-up old pet store to explore its collection of weird and charming, downright ugly pets. Meet a scruffy parrot, a catnip crazed kitty, and an unfortunate-looking little dog.

 

 

Load your tackle box, bait your hook and get ready to reel in the catch of the day in Fishin’ The Biggest from Apparat Gaming, the in-demand German software provider’s latest splash hit slot that sees players trawl the sea for free spins and massively multiplied prizes. Played over five reels, three rows and ten fixed paylines, Fishin’ The Biggest is a highly-volatile title with an outdoor angling theme.

Thunderkick has announced the launch of Midas Golden Touch 2, the highly-anticipated sequel to the acclaimed 2019 original. This latest release invites players to rediscover an enchanted realm where everything King Midas touches turns to gold. The 3×5 video slot boasts 15 paylines and showcases Thunderkick’s signature high-quality design and innovative features.

Belatra Games, the specialist online slots developer, has served up another classic with its tasty Chef’s Sticky Fruits slot. This latest release from Belatra’s studio  is a vibrant and juicy addition to its renowned catalogue of slots. It’s a 5×4 slot game bursting with colour that’s heightened with an upbeat, retro soundtrack that perfectly captures the essence of fun at the heart of every play.

Belatra serves up tasty Chef’s Sticky Fruits slot

3 Oaks Gaming has launched 3 China Pots: Hold and Win, the first time the company has integrated the popular 3 Pots mechanic within a Far East-themed title. The latest instalment from 3 Oaks to incorporate the 3 Pots functionality sees players transported to the allure of the Orient, where the Extra, Double and Multi modifiers influence the Bonus Game once activated.

3 Oaks Gaming presents a feature-rich trip to the Far East in 3 China Pots: Hold and Win

Pragmatic Play has unleashed roaming wild re-spins and random guaranteed wins in Release the Bison. Symbols of the American frontier abound in this 5×4 slot, where hitting four or more rampaging bison triggers the wild re-spin feature, during which all wilds roam the reels to boost win potential.

Blueprint Gaming’s latest slot release tasks players to look for the leprechaun’s pot of gold under the water rather than at the end of the rainbow in Plenty O’ Fish, a 6×4 hybrid of sea creatures and shimmering rewards. Players must look to unlock a tackle box of treasure with a jaunty leprechaun being the key to wins, lurking behind a dynamically coloured underwater background that changes when the bonus game is triggered.

Booming Games has launched its latest sweet sensation to its collection of engaging slot games – Fruit Heaven Hold and Win™. This is a deliciously designed 5×3 slot game with 25 paylines, which promises players an exciting experience full of fantastic fruity features and Stacked Wilds.

Wazdan is multiplying jackpots in the follow-up to its top-performing game Mighty Wild™: Panther Grand Gold Edition. Venturing to the depths of the jungle where a black panther rules the reels on a 5×3 gameboard, the new edition provides even larger win potential. With the increased value of the Cash symbols and Cash Infinity™ symbols, there is also a more lucrative Grand Jackpot of 1500x the base bet.

Continue Reading
Advertisement
Alpha Affiliates
Advertisement

EveryMatrix

Advertisement

SaaS-builder for partner program development and performance marketing optimization

Advertisement

Launch your iGaming business swiftly and effortlessly with our comprehensive turnkey solutions

Advertisement

LEADING AFFILIATE MARKETING SHOW

Trending (Top 7)

Get it on Google Play

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.