Veikkaus claims open Finnish market would increase gambling addiction
Operator asks for continuation of its monopoly, citing a potential increase in gambling addiction and fall in returns to good causes
Veikkaus has called on the Finnish government to preserve its monopoly on gambling, warning that liberalisation could lead to an increase in gambling addiction in Finland and reduce gaming revenues.
Mika Niikko, deputy chair of the Veikkaus supervisory board, told Finnish news outlet Uutiset that dismantling the monopoly would also decrease returns to good causes in Finland.
Veikkaus has been under increasing scrutiny in Finland this week after a series of ill-advised adverts.
“To give up [on the monopoly] would be a big mistake,” Niiko said.
“Gaming revenue has fallen sharply in countries where this is the case. Any money raised through Veikkaus will be returned to society for those who need it most,” Niikko added.
Veikkaus current gaming offering includes online casino and sports betting
Instead of ending the monopoly, Niikko called on the Finnish government to increase blocking of international operators, who he claimed were “unaccountable” to Finnish law.
There have been widespread calls to end Veikkaus monopoly on egaming in Finland since the turn of the year over concerns that it is incompatible with EU law.
In February, Finland’s Competition and Consumer Authority (KKV) confirmed it would conduct a full review of the monopoly, citing doubts over its commitment to preventing problem gambling.
Earlier this week, Veikkaus said it would suspend a significant portion of its advertising until the end of September, following widespread complaints over recent TV and radio ads.
Incoming Finnish Prime Minister Antti Rinne said he was dissatisfied with the adverts but welcomed the independent review of Veikkaus advertising practices.
“This should not happen. This has not been successful at all. This is an industry that is important for public health, but it is also about financing the welfare state through betting revenue. It must not lead to an increase in gambling addiction,” Rinne added.
Incoming Finnish Prime Minister Antti Ritte