EGBA CALLS ON FINLAND TO END VEIKKAUS’ GAMBLING MONOPOLY

The European Gaming and Betting Association (EGBA) has urged the Finnish government to “fix” its gambling policy and end Veikkaus’ monopoly. 

Finland is the only European Union member to still cling on to its gambling monopoly – a position that is looking increasingly unsustainable in an industry dominated by online gaming.

EGBA secretary-general, Maarten Haijer, also pointed out that Veikkaus is coming under increasing criticism from Finns, with its huge network of physical slot machines across the country drawing particular attention. Illustrating the scale of Veikkaus’ network, Haijer said that for each ATM in Finland, there were ten slot machines. 

Although Veikkaus has committed to withdrawing 8,000 of its machines, according to a 2019 survey from affiliate Kasino Curt, Finnish consumers are also increasingly in favour of ending the monopoly.

Haijer also reminded Finnish authorities of the amount of tax revenue they are already losing because players, hungry for choice and better offers, are increasingly opting to bet with international operators. He referenced a recent survey showing that 16.4% of the country’s online gambling revenue, equivalent to around €105M in taxable revenue, was spent last year with international betting sites. 

Expanding on the issue, Haijer explained: 

“Replacing the monopoly with an open-licensing system is not about getting more people in Finland to gamble, nor is it about killing off Veikkaus. Rather, it is the sensible way to meet the demands of those Finnish gamblers who seek an alternative to the monopoly and currently gamble on international gambling websites – and to regulate and tax this activity.

“Introducing open-licensing for online gambling is not revolutionary, it is evolutionary, and will ensure that most Finns gamble in a regulated and protected environment. But adapted to the realities of our times.

“All other EU countries have already done this, it makes sense, and it’s time for Finland to do the same.”

AYO.NEWS says:

It really does beggar belief that countries like Finland and Norway are still clinging to their obsolete monopolistic gambling systems in the year 2020. 

Whether you’re a fan of gambling or not, the truth is that it is only possible to raise standards and protect vulnerable gamblers by ensuring there are well regulated markets – and those markets must be accessible enough to convince a wide range of operators to go to the expense and trouble of getting licenses and playing by the rules. 

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