Veikkaus

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For the betting agency that existed before 2017, see Veikkaus (defunct company).
Veikkaus Oy
TypeLimited company
IndustryGaming
Founded1 January 2017
HeadquartersHelsinki, Finland
OwnerFinnish government
Number of employees
c. 2000 (2018)[1]
Websitewww.veikkaus.fi

Veikkaus Oy is the Finnish government-owned betting agency which holds a monopoly in the country. It was formed in 2017 as a merger of three previously existing betting and gambling agencies of Veikkaus, Fintoto and Finland's Slot Machine Association.[2]

In January 2019, Veikkaus announced a plan to reduce its workforce by around 400 positions, while also announcing “significant overhauls of our gaming locations and an end to the restaurant gaming table business.”[3]

A survey, conducted by Finnish polling specialist Bilendi on behalf of Kasino Curt, says that more Finns support than oppose the idea of abolishing Finland’s gambling monopoly and adopting a gambling license system. The interviews were conducted within Bilendi Oy’s nationwide consumer panel during March 20 to 24 2019. The survey error margin is ±3.1 percentage points.

The survey found that 31 per cent of Finns want to abolish the gambling monopoly and adopt a gambling license system instead, whereas 27 per cent of Finns are against the idea. The rest either cannot say their opinion or have a neutral stance in the matter.[4]

In September 2021, Veikkaus published customer data showing that 7% of players are responsible for 50% of its takings. The first half of 2021 saw roughly 1.7 million users playing Veikkaus games, which means that half of their revenue came from 119,000 players. Even more surprisingly, when looking at the entirety of Finland’s gambling industry, 50% of the money spent on gambling comes from just 2.5% of players.[5]

Profit distribution[]

The profit distribution of Veikkaus is determined in the law. The profit is distributed to be onwards distributed to ministry-specific beneficiaries as follows:[6]

  • 53% to the Ministry of Education and Culture for improving on sports and physical education, science, arts and youth work;
  • 43% to the Ministry of Social Affairs and Health for improving on health and social welfare;
  • 4% to the Ministry of Agriculture and Forestry for improving on horse racing.

See also[]

References[]

  1. ^ "Mikä Veikkaus on" (in Finnish). Veikkaus Oy. Retrieved 30 October 2018.
  2. ^ "Uuden rahapeliyhtiön nimi on Veikkaus" (in Finnish). Veikkaus Oy. 16 June 2016. Retrieved 30 October 2018.
  3. ^ "Betting agency Veikkaus to cut 400 jobs, may halt restaurant gambling". Yle Uutiset. Retrieved 21 January 2019.
  4. ^ "Survey: Finns not in favour of Finland's gambling monopoly". CDC Gaming Reports. Retrieved 16 July 2019.
  5. ^ "Veikkaus Sees Progress from Responsible Gambling Measures". CasinoReviews. 17 September 2021. Retrieved 24 September 2021.{{cite web}}: CS1 maint: url-status (link)
  6. ^ "Hallituksen esitys eduskunnalle laeiksi arpajaislain ja eräiden siihen liittyvien lakien muuttamisesta HE 132/2016 vp". Valtioneuvosto.fi (in Finnish). Finnish Government. Retrieved 30 October 2018.


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