The Finnish gambling and lottery state monopoly Veikkaus Oy is prepared to move to a licence system, according to its Deputy CEO Velipekka Nummikoski.
This would represent a big change from the monopoly position it currently holds, enabling all organisations to work within the same parameters.
Veikkaus noted in its interim report that Finland should consider bringing all gambling under the same regulation and, speaking to Finnish outlet Ylen Ykkösaamu on Wednesday, September 7, Nummikoski has outlined the firm’s proposals.
“Our competitors do not operate under Finnish regulations and their licence would change,” said Nummikoski.
“Then everyone would work with the same rules of the game.”
Currently, foreign gaming firms do not pay their taxes to Finland.
“In Finland, we formally have an exclusive rights system, but if we look at digital gaming, Veikkaus’ market share is only half. You can already ask if we really have an exclusive system anymore.”
Nummikoski also pointed out the success of the system in Sweden, a country where most of the gaming takes place through gaming companies within the scope of the system.
Gambling companies in Sweden are required to have a business licence, holders of whichhave to pay an 18% gaming tax.
The tax is collected from the money spent on the games and the difference between the winnings paid.
“Channelisation has reached 90% there, which was the goal of the system,” added Nummikoski. “And that is the most significant measure of whether the system has been successful or not.
“It is not worth creating such a licence system, which is not capable of channelling gaming into itself. The regulation must be drawn up to its level.”
He concluded: “The fact that we are currently offering games to Finnish customers shows that we are an attractive market.
“We would certainly get a significant number of good operators to Finland.”
Meanwhile, Veikkaus recently announced new restrictions in its efforts to promote responsible gambling.