{"id":7704,"date":"2024-08-13T06:05:08","date_gmt":"2024-08-13T06:05:08","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/08\/13\/advisors-recommend-finnish-government-exit-veikkaus-monopoly-ownership\/"},"modified":"2024-08-13T06:05:08","modified_gmt":"2024-08-13T06:05:08","slug":"advisors-recommend-finnish-government-exit-veikkaus-monopoly-ownership","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/08\/13\/advisors-recommend-finnish-government-exit-veikkaus-monopoly-ownership\/","title":{"rendered":"Advisors Recommend Finnish Government Exit Veikkaus Monopoly Ownership"},"content":{"rendered":"
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The government-owned betting company Veikkaus in Finland could soon have a big advantage against operators with licenses as the country works toward legalizing internet gambling by 2027. Concerning the ramifications of this change, local consultant Jari V\u00e4h\u00e4nen, a partner at Finnish Gambling Consultants (FGC), has suggested that the government should think about selling its stake in Veikkaus in order to avoid possible conflicts of interest.<\/p>\n

Legalization and Market Competition in 2027<\/h2>\n

As Finland gears up to legalize online gambling, the government has outlined plans to end Veikkaus\u2019 current monopoly by the close of 2026. With the Ministry of Finance preparing to establish a new regulatory body to oversee the market, V\u00e4h\u00e4nen warns that Veikkaus\u2019 dual role as both an operator and authority could create a \u201chigh risk of conflict of interest.\u201d This concern has been echoed by the country\u2019s chancellor of justice and the competition and consumer authority in their responses to the proposed regulations.<\/p>\n

In June, when draft regulations were unveiled, the Ministry of the Interior hinted at the possibility of selling off part of the government\u2019s stake in Veikkaus. The move would be aimed at enhancing shareholder value, with the state potentially relinquishing ownership if deemed beneficial in the future.<\/p>\n

V\u00e4h\u00e4nen argues that Veikkaus\u2019 extensive player database and advanced technology infrastructure could give it an unfair competitive advantage over new entrants into the licensed online gambling market in 2027. The fresh regulations propose splitting Veikkaus into separate units, including its monopoly arm, business-to-business operation Fennica Gaming, and a licensed online gaming business.<\/p>\n

The monopoly will continue to have exclusive rights to play certain games, such scratch cards, slot machines, lotteries, and toto games, but it\u2019s unclear how exactly its online business and monopoly activities will be separated. The necessity for a clear policy about whether Veikkaus\u2019 customers will be transferred to its licensed business was brought up by V\u00e4h\u00e4nen, a former employee of Veikkaus. Additionally, he forewarned against giving Veikkaus the exclusive right to host pool-based horse betting and digital instant win games, as well as against permitting it to offer the same games as authorized online operators.<\/p>\n

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