Finnish government-owned betting agency Veikkaus Oy partnered with London-based sportsbook provider OpenBet to launch a new sports betting platform in Finland. The partnership forebodes the evolving Finnish gambling ecosystem, which is expected to open up to private operators by 2027.
Key Notes of the Story
- The new platform will be available across Veikkaus’ existing retail network of 4,000+ POS terminals in Finland.
- Veikkaus signed a four-year sports betting contract with OpenBet in September 2023, following its previous partnership with SBTech.
- As part of the deal, Veikkaus can also leverage OpenBet’s Managed Trading Services, which include tools for risk management and real-time pricing.
Preparing for a Competitive Gambling Framework
The long-term partnership between Veikkaus and OpenBet is a major milestone in Finland’s evolving gambling ecosystem. It offers an enhanced omnichannel experience across the operator’s retail and online gaming platforms. The timing is significant as Finnish markets are expected to open up to private operators from 2027.
The new sports betting platform is available at Veikkaus’ 4000+ retail networks and digital channels across Finland. Built using cloud-based architecture, OpenBet’s gaming framework offers superior scalability, efficiency, and operability while staying compliant with Finland’s regulatory requirements.
OpenBet customised its modular betting platform to meet the demands of the Finnish markets. The UK-based sportsbook software provider will also provide its Managed Trading Services, giving Veikkaus access to superior risk management and real-time pricing tools, along with local and global gaming content comprising 300,000+ in-play events annually.
The launch follows a four-year partnership agreement with OpenBet in September 2023. This ended Veikkaus’ reliance on Isle of Man-based iGaming platform provider SBTech for its sportsbook platform. The launch also cements OpenBet’s position as a premium partner for World Lottery Association (WLA) members, offering fully-compliant platform solutions to 21 lottery operators worldwide.
Speaking about the partnership, Runa Walia Desai, OpenBet’s Chief Customer Experience Officer, said:
The launch marks a major milestone for Veikkaus, and we are proud to be associated with our WLA partner at this critical juncture. Our tailored platform ensures Veikkaus stays compliant with existing laws and remains competitive and future-ready with state-of-the-art tech. This partnership reiterates OpenBet’s commitment to lottery betting, responsible gaming, and localised strategies that deliver maximum impact. We look forward to supporting Veikkaus as it writes a new chapter in Finnish iGaming history.
Jarkko Nordlund, EVP, Domestic Business for Betting and Online Gaming, said:
As we prepare for increased competition within the next few years, partnering with a renowned, scalable, and innovative platform provider is the key to bolstering our product and technological capabilities. The launch of our new platform in association with OpenBet ushers in a new era of sports betting in Finland. It takes the gaming experience to the next level and offers a modern UI that is dynamic and accessible. OpenBet’s plans to bring innovative new products to the Finnish market excite us and reinforce our decision to form a close and long-term partnership with the company.
Growing Demand for Online Gambling Behind Reformed Regulations
Following the Finnish government’s landmark decision to open the Finnish online gambling market to private operators, Georgi Iliev, Regulatory Compliance Manager at Delasport, said that these are exciting times for the Scandinavian gambling industry as it embraces a competitive licensing model.
He explained that the gambling model is evolving, and online casinos in Finland are at the forefront of this change. Evolving consumer mindset and the integration of cutting-edge technology into gaming have beckoned the authorities to take note. With regulatory changes on the cards, Finland’s gambling market is projected to reach US$1.47bn by the end of 2025, with online gambling leading the way.
The challenge for Veikkaus and the Finnish gambling authorities is the rising influence of offshore gambling sites that accept Finnish players without regulatory oversight. By regulating online gambling, the Finnish government hopes to rein in illegal operators, improve player safety, and increase tax earnings.