Veikkaus CEO Backs Lottery Operators Driving Money Gaming Standards as Finland Ends Online Monopoly

Veikkaus supports the end of its monopoly over online betting and gaming in Finland from July 2027. The state-owned operator sees the change as the best route to reassert control over gambling and lift channelisation rates, according to an exclusive interview with Lottery Daily.

Chief Executive Officer Olli Sarekoski said the company has monitored other state-owned lottery operators active in betting and gaming “very closely.” He welcomed developments that give firms with lottery backgrounds an active role in money gaming.

Finland’s Channelisation Struggle

Unlicensed operators remain the central problem. Sarekoski disclosed that over 1,500 gaming companies target Finland. More than half of total gaming volume in 2024 took place outside the regulated market. The 80% channelisation target stays out of reach.

“The key point is the channeling rate,” Sarekoski stated. “A lot of gaming is outside the official channels. What is the point of the monopoly if this is the case?” From July 2027 more than 50 companies are expected to enter the market under a 22% tax on gross gaming revenue. Veikkaus keeps its monopoly on lottery and land-based activity. The overhaul legislation secured well over 90% of MPs in the second reading in December 2025.

Sarekoski noted that prior unfair competition from unlicensed offerings made harm prevention a “mission impossible.” Sweden’s 2019 overhaul and the Netherlands’ 2021 re-regulation both later saw channelisation rates weaken. Finland must avoid becoming too liberal or too restrictive if it is to balance competition with responsible gaming.

Lottery Operators and Common Industry Rules

Sarekoski said lotteries for a long time fought market opening but now most operate in regulated environments. The challenge across jurisdictions is unlicensed supply that distorts competition. Veikkaus has set a 2030 goal to become a respected international money gaming group. Its B2B division Fennica holds a presence in 21 markets across North America, Latin America and Europe with iLottery and iGaming products.

Executive Vice President Jonas Reuter pointed to the division’s studio and developer network drawn from casual gaming. Sarekoski cited FDJ’s 2024 takeover of Kindred and Allwyn’s expansion into betting, daily fantasy sports and prediction markets as evidence that lottery-rooted firms can drive sector transformation. He argued such activity can establish common standards on how operators should and should not function.

The risk lies in whether new entrants will compete on customer experience rather than highest-risk products. Without that discipline, channelisation gains may prove short-lived even after the monopoly ends.

Reporting: Lottery Daily

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