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Veikkaus extends €500 daily loss limit until March 2021

| By Robin Harrison
Finnish gambling monopoly Veikkaus has announced that a temporary reduction to the maximum amount its players can lose in a day will remain capped at €500 throughout the first quarter of 2021.

The monthly loss limit, however, will be restored to €2,000, the rate in place prior to the novel coronavirus (Covid-19) pandemic. 

Veikkaus’ customers have been subject to this reduced limit since 1 May this year, which applies to “fast-paced online games” such as online lottery games, slots, bingo and table games, with an exception for poker. 

The measure was introduced by the country’s Ministry of the Interior to protect players under lockdown, and saw the €2,000 monthly limit reduced by three quarters, and the €1,000 daily pre-pandemic loss limit halved. 

While the original limits were due to be reintroduced from 30 September, the Ministry then announced days before this date that it would keep the reduced limits in place until the end of 2020

While the end of the year will see the €2,000 monthly limit restored, the €500 daily loss cap will now be maintained until the end of March. 

The measure comes as questions about Veikkaus’ future, and potentially an end to its monopoly refuse to go away. Yesterday (17 December) the European Gaming and Betting Association (EGBA) set out its reasons for supporting Finland opening up to private operators, arguing that there was no evidence of the monopoly model protecting players, or stopping offshore gambling.

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