Calls to End Gambling Monopoly of Veikkaus in Finland Rise

16.08.2019, 12:01

Unlike many other countries, Finland has a single gambling firm, which is run by the state. The state-owned operator Veikkaus is planning to lower the number of slot machines in the country. The move comes as calls to end gambling monopoly gain momentum, but Veikkaus is working hard to ensure that it remains without competitors at least for now.

Veikkaus CEO Olli Sarekoski on Monday told reporters that the monopoly had launched a plan to reduce the number of slot machines. The move is in line with the recent legislation that requires an identification verification in the machines. Sarekoski said that the withdrawal plan would continue for some years.

According to Sarekoski, the legislation will result in a “decrease in gambling” hence no need of keeping more slot machines. Veikkaus has recently come under sharp criticism for allowing slot machines to reach even prohibited areas. Gas stations, restaurants, and other retail setups are the popular venues for slot machines.

Petition against Veikkaus

Meanwhile, a petition that was launched by the citizens has gained momentum, garnering over 20000 signatures in the process. The initiative aims to make Veikkaus slot machines uncommon in unpopular venues. However, the executive VP Velipekka Nummikoski defended Veikkaus, adding that the position of slot machines is “political,” thus beyond the betting firm’s ability.

It’s just last week that Veikkaus came under condemnation for running an insensitive marketing campaign. The ad was urging gamers who stake large amount to bet on ponies for a chance to quench their gambling desire. The public outcry forced Veikkaus to cancel all the radio adverts and suspend all marketing campaigns.

On Tuesday, Veikkaus announced plans to include a “liability indicator” in the loyal customer’s reward system to avert gambling-related behavior. Furthermore, the company intends to put in place a new Ethics Board to ensure compliance with responsible gambling laws.

With a sizable population of Finns pushing the government to allow for competition in the gambling industry, Veikkaus occurs to be losing the battle to preserve its monopoly. A local media quoted Prime Minister Annti Rinne acknowledged “a number of positive effects” that monopoly had brought. However, he believes that the current situation calls for further examination to allow for changes.

The Minister of Culture and Science Annika Saarikko thinks that the controversy needs clear minds to effect comprehensive modifications. The minister cited the impact that the open gambling market in Sweden has made, especially through increased advertisement.