Veikkaus Unveils OpenBet-Powered Sports Betting Platform

Veikkaus, Finland’s gambling monopoly, has launched a new and modern OpenBet-powered sports betting platform ahead of the liberalization of the local market. This modernization will allow Veikkaus to remain competitive once other operators launch.

Veikkaus Seeks to Time-Proof Its Business

Veikkaus has long served as Finland’s sole gambling operator, enjoying a market with no competition from other companies, with the exception of unlicensed parties. However, the country recently took steps to put an end to its gambling monopoly and introduce a modern regulated framework.

While Veikkaus didn’t oppose the decision, it asserted that the changes would necessitate a restructuring of its business. In addition to reducing its workforce, the company is also working on modernizing its platform in order to remain competitive.

To that end, the operator partnered with OpenBet, which powered its new sports betting platform.

Underpinned by the supplier’s robust technology, the new platform will allow the operator to manage large volumes of sports betting while still remaining compliant with the country’s regulations. It will allow Veikkaus to manage some 300,000+ in-play betting events every year.

The new sportsbook system is fully modular and tailored to Veikkaus’ needs. As a result, it supports both local events and international competitions and provides custom odds for a variety of popular sports.

In addition to that, OpenBet agreed to power the Finnish operator’s business with its Managed Trading Services, which include pricing and risk management solutions.

OpenBet Was a Natural Fit for Veikkaus

The original agreement between Veikkaus and OpenBet was signed a year and a half ago, paving the way to the operator’s modernization and ending its reliance on SBTech. OpenBet earned the contract via a competitive tender process, during which it stood out from the rest of the participants.

As mentioned, the partnership comes ahead of the liberalization of the local market, which is expected to happen in 2027. By reinforcing its products before that, Veikkaus ensures that it will be able to stand its ground against entities with a broader gaming and betting experience.

Considering this, OpenBet was a natural fit due to its popularity as a trusted partner.

Veikkaus Paid Fine, Appointed New Directors

Last year, Veikkaus was hit with a temporary ad ban due to its failure to protect minors from gambling. As it turned out, the operator had wrongfully placed advertisements within programming that was also watched by minors. In addition to the ban, the monopoly was slammed with a $3.7 million fine.

In other news, Veikkaus recently held its annual general meeting, during which it announced the addition of industry veterans Martti Ala-Härkönen and Charles Cohen as directors. At the same time, Kaisa Olkkonen was re-elected as chair.