Finland’s Major Operator Veikkaus Reports Number of Problem Gamblers Decreases

Finland’s state-owned entertainment supplier Veikkaus reveals encouraging conclusions from the most recent study this institution has conducted. As far as the survey analysis implies, there’s a slight decline in problem gambling among the country’s population.

The survey, which was carried out by market research specialist Taloustutkimus, took place between February and April this year, during which 5,000 Finnish citizens aged between 15 and 79 were interviewed.

According to the final stats, around 95,000 people is estimated to have a gambling problem. This s for 2.3% of the population, which represents a decrease from the last year’s study.

Small, but Encouraging Percentage

In the previous edition of the survey, published in November 2019, the percentage of those classified as problem gamblers was 2.8%, meaning the number is improving.

Moreover…

…the stats also represent a 28.6% decrease from the 3.3% problem gambling rate revealed in a December 2017 survey, which indicates that people are becoming aware of the significant role of the responsible behavior while gaming.

According to this content provider, 26% of those with gambling issues identified this brand as the only operator they played with. A further 15% of respondents that only gamble with offshore entertainment providers said they considered themselves to have a problem.

Does Current Situation Have Huge Impact?

As far as the operator stressed out, the shut-down of its slot machine network, between March and July will have “a significant impact on both gambling as a whole and the problems caused by gambling”. This network, states Veikkaus, is considered to be one of the biggest causes of problems.

During the said period…

… it pointed out, there were some signs that land-based players shifted to Veikkaus’ digital offerings, adding that this change was small in of both customer numbers and gaming revenue.

Last week, Finland’s major operator said it expects its 2020 profits to fall by as much as €300m (£268.6m/$354.5m). As for the first half of the year, the company reported a 28.1% year-on-year decline in gross revenue and a 33.6% drop in profit.

Gross gaming revenue…

… for the six months to 30 June fell to €607.2m. As estimated, the total was down by around €200m as a result of the disruption caused by the current situation. Its profit of €332.7m for the period decreased by 33.6% year-on-year.

Speaking of the ongoing “exceptional circumstances,” as the state called them, at the end of April the Finnish Ministry of the Interior has issued a decree which aims to cut monthly and weekly loss limits significantly.

More Measures for Better Protection

By the end of 2020, the operator will put all the efforts to reduce the number of machines in operation by around 40% to 10,500.

This measure will be followed by…

… the introduction of mandatory registration from January 2021. When this decision takes place, all punters will be required to have an with the operator in order to gamble. Until this comes into effect, all slot machines will be equipped with timers, which notify punters after every 15 minutes of play.

Source:

“Veikkaus sees decline in Finnish problem gambling”, igamingbusiness.com, August 24, 2020.