Finnish state-owned lottery and betting operator Veikkaus Oy is moving to strengthen its sportsbook capabilities ahead of market liberalisation in the coming years.
The firm has partnered with OpenBet, a B2B sports betting solutions supplier, which will deliver its modular sportsbook platform to Veikkaus, based around the operator’s specific requirements.
With Finland set to abolish the monopoly held by Veikkaus in either 2026 or 2027, the state owned company is preparing itself to take on incoming competitors. The opening up of the market follows similar developments in other Nordic nations, notably Denmark and Sweden, and as a result there is a lot of interest in the region’s potential.
Jarrko Nordlund, EVP for iCasino and Sports Betting at Veikkaus, said: “As we prepare for increased competition within the market, working alongside the industry’s most trusted, innovative, and scalable providers is key to enhancing our product and technological capabilities.
“Launching with OpenBet’s platform heralds a new era of sports betting within Finland, taking it to new heights and offering players a modernised experience they will truly appreciate.”
Veikkaus gearing up for new era
Veikkaus has held a monopoly on Finnish lotteries and betting since its origins in 1940, while the current incarnation of the company, Veikkaus Oy, has held the monopoly on gaming and slots since 2017.
An issue has arisen for Finnish policymakers, however, this being channelisation. The number of Finns betting and gaming with overseas firms has ballooned in recent years, and the regulators, and Veikkaus itself, are increasingly concerned about the targeting of Finns by said overseas firms.
Re-regulating the market and issuing private licences, as has been done in Sweden and Denmark, is seen as the ideal solution to this. As stated above, Vekkaus is openly in favour of this despite the competition it would bring.
The government launched the new Gaming Act earlier this year with the aim of launching this market, and the bill has broad bi-partisan support in the country’s parliament. The most likely outcome will see a regulated market launched in either 2026 or 2027, with Veikkaus retaining the state monopoly over lotteries and land-based gaming.
To prepare for market launch – a prospect which has enticed others like Paf and Sweden’s ATG to embark on preparatory measures – Veikkaus is going to make use of OpenBet’s Managed Trading Services, including real-time odds, risk management and content.
The deal is also significant for OpenBet, which is entering its own new era having completed a management buyout from Endeavor earlier this year. The firm has been particularly vocal in its desire to partner with more lottery firms as it enters its new era of management.
Runa Walia Desai, Chief Customer Experience Officer at OpenBet, said: “This launch marks a major milestone for Veikkaus, and we’re proud to stand alongside one of our key WLA partners at such a pivotal time.
“Our technology ensures Veikkaus stays not only compliant, but competitive and future-ready, with a modern platform built for long-term success.”