Veikkaus joins Rahapeliala ry – former opponents to the same advocacy

The solution is exceptional in Finnish gambling policy, as the competition between Veikkaus and international gambling companies has become fierce in Finland in recent years. The parties have been firmly on opposite sides.

Veikkaus defended the exclusive rights system in Finland for a long time, while international gaming companies have been pushing for years to open the gambling market to competition and switch to a license system.

Now the old adversaries are striking together in common interest management.

“Veikkaus has such a long history and influence that its inclusion substantially increases our possibilities of influence”, CEO of Rahapeliala ry Mika Kuismanen says.

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

Although Veikkaus still has a monopoly position in Finland, foreign gambling companies gained a dominant position in the digital betting market a long time ago.

For a long time, international companies have accounted for more than half of the digital betting market, according to some estimates as much as 60–70 percent.

When Veikkaus’ monopoly was practically broken, the government decided to reform Finland’s gambling law. It will enter into force on July 1, 2027, after which licensed international gaming companies will be able to operate freely in the Finnish market.

The companies represented by Rahapeliala ry are among the largest groups applying for a license from the Police Board. The most famous of them are FDJ United, better known by its old name Kindred Group, and Betsson Group.

Veikkaus will also become part of the licensed market.

“For our part, we want to strengthen the gambling industry’s safeguarding of interests, and in this cooperation is very important to ensure the functionality of the future system”, CEO of Veikkaus Olli Sarekoski says in a press release published on Wednesday.

Veikkausen after the settlement, Rahapeliala ry’s membership represents as much as 80 percent of Finland’s current betting digital gaming market.

It is not surprising that Kuismanen considers Veikkaus’ membership “very significant”.

“One of the key tasks of our industry organization is to influence what the regulation of the new law and its practices will be like in the coming years”, outlines Kuismanen.

In the new system, the goal is to bring the vast majority of gambling in Finland under the purview of licensed and supervised companies. According to Kuismanen, that is also a big goal of the industry advocacy organization.

“With the inclusion of gambling, the fight against gambling disadvantages will become even more effective, which is quite important. The more gambling takes place through licensed companies, the better the authority will be able to monitor the activity,” Kuismanen sees.

“For decades, Veikkaus has been profiled in terms of responsibility and gambling disadvantages precisely as a state monopoly company. Now it brings this experience to the same organization as international companies.”

Correction 2.9. 10:26 am: Kindred Group is now called FDJ United.