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adminOnce again we read a really good piece of a text about the current status of Finnish online gaming. We are to share it also here:
Yesterday on March 3, 2022 Veikkaus (State owned gambling monopoly operator) Annual and Sustainability Report for 2021 (“Report”) was published and among other things it indicates that the Gaming monopoly system might be coming to its natural end in Finland as Veikkaus market share is dropping at an alarming rate. On November 11, 2021 while being heard by the Finnish Parliaments Administration Committee, Veikkaus predicted for the MP’s that Veikkaus total market share in 2021 would remain at 79% (-2%) and online market share at 63% (-2%). Pretty bad prediction with only less than two months left of 2021, as the Report now revealed the real figures were 74% (-7%) and 59% (-6%).
The Report also reveals that even Veikkaus does not appear to belief that the latest legislative reform, including PSP-blocking from players to blacklisted gambling operators, would help them that much. Veikkaus has officially set the long-term aim for the online market share to 60%, meaning that they are aiming for a modest 1% increase compared to 2021. Even that is overly optimistic if you ask me, as was the aim of 64,7% for 2021.
Why is this important in regards of the Veikkaus monopoly? Well, if and when the market share drops on the area of 50% it is doubtful that the monopoly can effectively achieve its aims, in Finland’s case reduce gambling problems, and as a result the EU law justification for the monopoly will deteriorate. That might be only a few years away.
There are other factors supporting the same inevitable end of the current monopoly regime. First, Veikkaus proceeds have fallen 33% just in two years and it looks like there’s no coming back. Less money means less political support. Second, the link between Veikkaus and the beneficiaries, who enjoyed the ever-increasing proceeds until a few years ago and formed the greatest lobby of Veikkaus and the monopoly regime, will be severed. Third, political atmosphere has changed. Left-wing parties, who have formed the current government, have lost a lot of support. Current poll-leader, the National Coalition party, have publicly expressed that they are not committed to Veikkaus monopoly.
Links:
Veikkaus Annual and Sustainability Report for 2021:
https://lnkd.in/g7vvxUQD
Veikkaus presentation for the Finnish Parliaments Administration Committee on November 11, 2021:
https://lnkd.in/gjuSjV6y
Latest party affiliation poll:
https://lnkd.in/g_5wx3Yr
Finns and us
We have a strong connection to Finland and Finns as players and we sincerely hope that one day, even in the 20s, also Finland shall have a casino licence system, that allows international operators to arrive Finnish markets as welcomed competition.
