Veikkaus Oy is the
Finnish government-owned
betting
Gambling (also known as betting or gaming) is the wagering of something of value ("the stakes") on a random event with the intent of winning something else of value, where instances of strategy are discounted. Gambling thus requires three elem ...
agency which holds a monopoly in the country. It was formed in 2017 as a merger of three previously existing betting and gambling agencies of
Veikkaus
Veikkaus Oy is the Finnish government-owned betting agency which holds a monopoly in the country. It was formed in 2017 as a merger of three previously existing betting and gambling agencies of Veikkaus, Fintoto and Finland's Slot Machine Ass ...
,
Fintoto and
Finland's Slot Machine Association
Finland's Slot Machine Association or RAY ( fi, Raha-automaattiyhdistys) was a government-supervised and -owned nonprofit gaming (gambling) association (statutory corporation) in Finland. On January 1, 2017, RAY merged with the government-supervi ...
.
In January 2019, Veikkaus announced a plan to reduce its workforce by around 400 positions, while also announcing "significant overhauls of our gaming locations and an end to the restaurant gaming table business".
A survey, conducted by Finnish polling specialist Bilendi on behalf of Kasino Curt, says that more Finns support than oppose the idea of abolishing Finland’s gambling monopoly and adopting a gambling licence system. The interviews were conducted within Bilendi Oy’s nationwide consumer panel during March 20 to 24 2019. The survey error margin is ±3.1 percentage points.
The survey found that 31 per cent of Finns want to abolish the gambling monopoly and adopt a gambling licence system instead, whereas 27 per cent of Finns are against the idea. The rest either cannot say their opinion or have a neutral stance in the matter.
Profit distribution
The profit distribution of Veikkaus is determined in the law. The profit is distributed to be onwards distributed to ministry-specific beneficiaries as follows:
* 53% to the Ministry of Education and Culture for improving on sports and physical education, science, arts and youth work;
* 43% to the Ministry of Social Affairs and Health for improving on health and social welfare;
* 4% to the Ministry of Agriculture and Forestry for improving on horse racing.
See also
*
Casino Helsinki
Casino Helsinki is a casino located in Helsinki, Finland, located less than a ten minute walk from Central Railway Station. It's owned by government-owned Veikkaus and is one of the few casinos in the world, and the second in Finland, to donate ...
*
RAY
Ray may refer to:
Fish
* Ray (fish), any cartilaginous fish of the superorder Batoidea
* Ray (fish fin anatomy), a bony or horny spine on a fin
Science and mathematics
* Ray (geometry), half of a line proceeding from an initial point
* Ray (gr ...
*
Veikkaus (defunct company)
Veikkaus Oy was the Finnish national betting agency. It was fully owned by the Finnish government and had an exclusive legal betting license on lotteries and sports betting in Finland. Veikkaus was managed by the Finnish Ministry of Education, w ...
References
Government-owned companies of Finland
Gambling companies of Finland
Lotteries
2017 establishments in Finland
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