Veikkaus, the Finnish state-run betting company, has announced a new partnership with OpenBet to update its fixed odds betting system. The agreement comes as Finland plans to end the current monopoly system in 2026.
As part of the deal, Veikkaus will expand its Pitkäveto and Live Bet products along with its build-a-bet offering to include new sports. These updates are set to be implemented at sales points and on Veikkaus.fi by the end of 2024.
Juha-Matti Mäkilä, vice-president of betting operations at Veikkaus, expressed the company’s commitment to providing the best customer experience for Finnish bettors, stating, “With our new partner, we can offer our customers the best possible customer experience in the future and include all the best features of the international betting market in Veikkaus betting.”
The announcement of the partnership with OpenBet comes amidst a turbulent week at Veikkaus. The company confirmed plans to lay off approximately a quarter of its workforce and undergo a restructuring process, including the closure of Casino Tampere.
In addition to the restructuring, the Finnish government aims to abolish the current gambling monopoly system. The reforms will introduce a new licensing system for online casinos and sports betting, with the primary goal of reducing gambling harm. The European Gaming and Betting Association (EGBA) has supported these changes, emphasizing the importance of channeling gambling into licensed offerings.
Veikkaus CEO Olli Sarekoski also expressed support for the reform, stating, “The most important thing is that more gambling can be channeled into licensed offerings than before, and we think that the license system best supports this goal and the development of more responsible gambling.”
Moving forward, the Finnish government will develop new proposals for the licensing system, covering fees, tax, and other critical measures, as the country transitions away from its current gambling monopoly.