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Gambling: Veikkaus joins forces with foreign betting companies
🇫🇮 Finland /Economy & Trade

Gambling: Veikkaus joins forces with foreign betting companies

From Helsingin Sanomat · () Finnish

Translated from Finnish and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • Finland’s state-owned gambling company Veikkaus is joining Rahapeliala ry, an industry association representing foreign gambling companies.
  • The move brings together former rivals as Finland prepares to open its gambling market to licensed international operators on July 1, 2027.
  • The association’s members will then represent about 80% of Finland’s current digital betting market, according to the article.

Finland’s gambling market has produced an unexpected alliance: Veikkaus, the state-owned company that long defended its monopoly, is joining the association representing the foreign companies that challenged it.

Veikkaus has such a long history and influence that its involvement substantially increases our ability to influence matters.

— Mika KuismanenThe Rahapeliala ry chief executive welcomed Veikkaus joining the association.

Rahapeliala ry represents international gambling operators that have pushed for years to open Finland’s market to competition and replace the monopoly with a licensing system. The association’s chief executive, Mika Kuismanen, described Veikkaus’s membership as a major boost to its influence. “Veikkaus has such a long history and influence that its involvement substantially increases our ability to influence matters,” he said. “I wouldn’t have believed this myself a few years ago.”

Although Veikkaus still holds a monopoly in Finland, foreign companies have already gained the dominant position in digital sports betting. Their share has long exceeded half the market, and some estimates put it at 60% to 70%.

I wouldn’t have believed this myself a few years ago.

— Mika KuismanenKuismanen described the former rivals’ alliance as unexpected.

The government decided to overhaul Finland’s gambling law after the monopoly had effectively been eroded. The new system will take effect on July 1, 2027, allowing licensed international companies to operate freely in Finland. Companies represented by Rahapeliala ry, including Kindred Group and Betsson Group, are expected to apply for licenses from the National Police Board. Veikkaus will also become part of the licensed market.

We want to strengthen advocacy for the gambling sector on our part, and cooperation is extremely important to ensure that the future system works effectively.

— Olli SarekoskiThe Veikkaus CEO explained the company’s decision in a statement.

Veikkaus CEO Olli Sarekoski said in a statement that the company wanted to strengthen the sector’s advocacy and help ensure that the future system works effectively. Kuismanen said the association would seek to influence how the new law is regulated and applied. He also argued that bringing more gambling under licensed and supervised companies could improve efforts to reduce gambling-related harm.

The more gambling takes place through licensed companies, the better the authorities can monitor the activity.

— Mika KuismanenKuismanen linked the new licensing system to efforts to prevent gambling-related harm.
About this summary

Originally published by Helsingin Sanomat in Finnish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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