Veikkaus

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Veikkaus Oy
Limited 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]

Profit distribution[edit]

The profit distribution of Veikkaus is determined in the law. The profit is distributed to be onwards distributed to ministry-specific beneficiaries as follows:[5]

  • 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.

References[edit]

  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. ^ "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.