Govt lowers loss limits for Veikkaus’s online gambling

The loss limits of the state-owned gambling company Veikkaus Oy’s fast-paced gambling games are to be lowered, said a government press release on Thursday.

The maximum loss limit will be lowered to EUR 500 (now 2,000) per month and EUR 500 (now 1,000) per day.

Amendments to the Act will enter into force on 1 May and will remain in force until 30 September 2020.

The aim of the amendments is to prevent and reduce economic, social and health harm caused by gambling during the coronavirus epidemic more effectively.

“During the coronavirus epidemic, most people spend more time at home than is usual, which may increase the risk of online gambling getting out of hand. At the same time, many people are in an economically difficult situation. The purpose of the Decree is to curb the increase in the harmful effects of online gambling in emergency conditions,” said Interior Minister Maria Ohisalo.

In order to prevent coronavirus infections, Veikkaus Oy has closed down all slot machines across the country, game rooms and the casino located in Helsinki for the time being.

Because the coronavirus epidemic has led to the current restrictions and increased staying at home, gamblers may move to fast-paced online gambling involving particular risk of harms.

Fast-paced games refer to Veikkaus Oy’s eBingo, Tähdenlento, virtual betting and electronic money lotteries (online lotteries), and online casino games and slot machine games.

Apart from the maximum loss limits, in fast-paced online gambling all gamblers must set their own daily and monthly loss limits. Gamblers may change the loss limits they have set themselves. However, the limits set by gamblers cannot be higher than the maximum loss limits laid down by the Decree.

From the perspective of preventing and reducing gambling harms, lower loss limits will still be necessary even after the current restrictions caused by the coronavirus epidemic are lifted. This is justified, for example, by the fact that consumers’ financial difficulties are likely to continue after the epidemic, too.

Only Veikkaus Oy may offer gambling in mainland Finland. The lowering of the maximum loss limits may result in at least some of the players moving to gambling outside mainland Finland. It should be noted that, in this case, gambling would happen outside the supervision of the National Police Board under the Lotteries Act.

It is predictable that the situation will attract international actors to increase their marketing efforts and offer gambling opportunities in Finland in violation of the Finnish law.

“The fact that the Ministry of the Interior decides to protect gamblers by lowering the loss limits in emergency conditions must not mean that foreign actors who violate the law would benefit from the situation,” said National Police Board Chief of Gambling Administration Saaramia Varvio.