Veikkaus announces agreement with OpenBet

Veikkaus is preparing for the end of its gaming monopoly.
Veikkaus is preparing for the end of its gaming monopoly.

Veikkaus’ fixed-odds betting system will be aligned with OpenBet’s offerings.

Finland.- The state-controlled gambling operator Veikkaus has signed a deal with OpenBet to update its fixed-odds betting system after a public tender. The deal will also expand the operator’s Pitkäveto and Live Bet products and add new sports to its build-a-bet product. The updates will be implemented by the end of 2024.

Juha-Matti Mäkilä, Veikkaus’ vice-president of betting operations, said: “We want to continue to be the number one choice for Finnish betting. With our new partner, we can offer our customers the best possible customer experience in the future and include all the best features of the international betting market in Veikkaus betting. The reforms will help us diversify and adapt our offering to suit Finnish players as well as possible.”

The deal comes as Veikkaus prepares for the end of its monopoly over all forms of gambling in Finland. The Finnish government plans to launch a licensed gambling market by 2026. Last week, Veikkaus announced that it will close several venues including Casino Tampere in December as it moves ahead with a restructuring.

Veikkaus will be divided into three units: domestic games of chance, slots and arcades; domestic online casino and betting; international. It expects around 200 job losses, while over 100 will see material changes in employment terms.

The move reverses the 2017 merger between Veikkaus (betting), Raha-automaattiyhdistys (slots) and Fintoto (horse racing betting). Each of the three units will be led by a senior vice president.

Nora Vähävirta, the present chief operating officer of business operations, will take the role for the unit dedicated to domestic gaming, slot machines and arcades. Jarkko Nordlund, who became an executive director at Veikkaus in September, will be SVP for domestic online casino and betting operations and Jonas Reuter, who also joined in September, will take the corresponding position for international business.

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