A government study into Finland's gaming industry is pointing towards the potential removal of the Veikkaus monopoly. The investigation, initiated by the Ministry of the Interior, has been exploring the efficiency of the state-run monopoly, and the initial findings indicate significant revenue loss for the Finnish government.

According to a statement from Veikkaus, change is desired and the monopoly might be reduced to slot machines and lottery products, allowing competition with foreign operators in the iGaming segment.

Finland's Loss and Possible Solutions The study revealed that Finland loses at least €500 million ($547 million) annually to foreign gambling companies, coupled with over 50,000 Finns facing gambling addiction due to insufficient oversight. Two options have been presented: one is to switch to a licensing system allowing regulated foreign operators, and the other is to enhance Veikkaus' control and tackle unlicensed online gaming.

In Europe, most countries have opted for the first choice, with studies showing that gaming monopolies like those in Finland and Norway have failed. In nations with licensing systems, 80%-90% of gambling activities are channeled to licensed firms, a rate much higher than Finland's current situation.

The majority of the Finnish legislature, the Riksdag, along with Veikkaus itself, supports abolishing the monopoly, though the head of the working group, economist Harri Sailas, is still undecided.

Potential New Directions

Veikkaus might retain control over slot machines, physical casinos, retail betting, and the lottery but lose its online monopoly. Should online markets be opened, Sailas suggests a tax rate of 20%-25%, generating revenue for the government and allowing Finland to block unlicensed platforms.

The debate is ongoing, with no clear indication of the government's decision. However, evidence and legislative support suggest that Veikkaus may have to give up control in some areas of gaming.