OpenBet and Veikkaus have announced a long-term partnership where the Veikkaus sports betting operations will be based on OpenBet technology.
The move is significant amid the growing influence of the betting operator’s operations both online and offline.
OpenBet will also provide managed trading services to Veikkaus, which is strategically important for both companies.
Nikos Konstakis, Chief Product Officer at OpenBet, expressed: “Our partnership with Veikkaus demonstrates our ambition as pioneers in regulating markets. By integrating our innovative technology and tailored solutions, we are not just entering Finland, we’re transforming its sports betting landscape. It’s a monumental chapter for OpenBet and we look forward to setting an unparalleled benchmark with Veikkaus. This reaffirms our position as an undisputed leader in the WLA space, with 18 global partners, and highlights our expertise in the lottery sector and commitment to responsible gaming and driving success for operators through localised strategies.”
In addition, OpenBet has highlighted Finland as one of its exciting opportunities to expand into the wider European sports betting market.
The deal comes as political processes begin to overhaul Finland’s licensing system and end the current monopoly held by Veikkaus. According to the country’s Ministry of Internal Affairs, it is planned to replace the monopoly with a partial licensing system by 2026.
In October, the Ministry announced the launch of a project to develop “necessary legislative proposals” for reform, including the distribution of licenses and the establishment of ground rules.
This will take into account games subject to licensing, payment, tax rates, the use of gambling control tools, harm prevention measures, and the regulation and promotion of bookmaking activities.
Under the proposals, Veikkaus would retain its monopoly on offline games and lotteries, but would face competition from private operators licensed for online betting.
Juha-Matti Mäkilä, Vice President, Betting Operations at Veikkaus, commented: “We’re thrilled to partner with OpenBet in this venture. By using their deep-rooted expertise and top-tier technology solutions, we will redefine the user experience and elevate our sports betting offering. OpenBet’s advanced technology suite and a history of scaling operations in dynamic markets make them the ideal partner for us. We foresee that this partnership will make us strong and competitive in the evolving Finnish market today and for the future.”
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