Tag Archives: Veikkaus

Veikkaus makes online loss limits permanent to ‘prevent harm and indebtedness’

Veikkaus, Finland’s gambling monopoly, has made the temporary online gambling loss limits introduced during the pandemic a permanent feature of the country’s gaming regulation. As a result of the now permanently-entrenched measures, Finnish online bettors will only be able to lose a maximum of €500 (£429/$596) per day – half the original daily limit of €1,000 – whilst playing online …

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Norway ‘losing control of online market’ due to rejection of state monopoly

The prevalence of a state monopoly has led to Norway ‘losing control of its online gambling market’ according to Maarten Haijer, Secretary General of the European Gaming and Betting Association (EGBA). Under the current system, Norway’s two operators – Norsk Tipping and Norsk Rikstoto – are both state-owned, with the former responsible for lotteries and sports betting, whilst the latter …

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Veikkaus records a 2020 slip as covid shuts down Finnish arcade venues

Veikkaus, Finland’s state-owned gambling monopoly has published its full-year 2020 results,  disclosing total corporate profits of €680.2m, down 33 % from the previous year. Veikkaus cited that the decrease was primarily due to the disruption caused by the COVID-19 pandemic as slot machines were closed entirely or in part for a total of around five months. Lottery tax was €151.4m, …

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EGBA raises questions over Finland’s Veikkaus monopoly

Maarten Haijer, Secretary General of the European Gaming and Betting Association (EGBA), has raised doubts over the effectiveness of Finland’s gambling monopoly, Veikkaus. Writing for the EGBA, Haijer called on the Finnish government to ‘fix’ its gambling policy, highlighting that the maintenance of this monopoly offers very little to both the players and the government. He explained that the current monopoly system …

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Winning Post: Easy ‘Nordic cash’ is drying up…

Regulus Partners begins November proceedings by examining the Nordic market developments. Once recognised as fruitful territory for igaming operators, heavy-handed restrictions, penalties and increased taxes have changed Scandinavia’s market outright.  ___________ Norway has become a much tougher market in which to operate over the last couple of years, especially for those not willing or able to get creative with payments …

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SBC Magazine Issue 11: Ralph Topping, SPACs and the best way to spend £100m

Kicking off Issue 11 of SBC Magazine, we have an exclusive interview with former William Hill CEO Ralph Topping, who reflected on his journey from a part-time cashier in one of Glasgow’s independent betting shops to the boardroom of William Hill. He looked back on the ways that UK betting shops have evolved in recent years and how bookmakers have …

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Veikkaus calls for early introduction of Finnish age verification measures

Veikkaus has called on Finland’s government to bring forward the implementation date for new measures regarding compulsory authentication across gaming arcades. Currently, mandatory ID checks are to commence at the beginning of 2023, but the Finnish gambling monopoly is urging an amendment to the Lottery Act to bring the rulings into force next year. The firm has also documented its own …

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Veikkaus seeks new wagering lead as Kauhanen departs to lead Finnish Hippos

Finland’s national gambling monopoly Veikkaus OY is looking for a new sports betting chief, after long-term Vice President of Wagering Sami Kauhanen departed the organisation to lead Finnish horseracing. This June, Suomen Hippos – Finland’s horseracing and stud breeding association – confirmed the appointment of Kauhanen as inbound President and CEO effective 1 September 2020. Hippos underlined Kauhanen’s credentials as the …

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Lottery leaders to address COVID-19 crisis at SBC Digital Summit

SBC Digital Summit - Lottery Track

High-profile figures from major European lotteries and US state lotteries are set to participate in the SBC Digital Summit to share their experiences of adapting to the new market conditions brought about by the COVID-19 pandemic. The event’s Lottery track, delivered in partnership with GLMS, takes place on 29 April, the third day of the largest ever online conference and …

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Andrew Cochrane, SBTech: Setting the tone for B2B services with ‘Go Big’ campaign

SBTech

SBTech will “set the tone” for the year ahead at ICE London, with a full complement of company leaders ready to welcome sports betting and gaming partners to ‘Go Big’ and join #thebigleague. We caught up with one of these leaders Andrew Cochrane, the Chief Development Officer who is heading up the ‘Go To Market’ team. He told us more …

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