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Finnish Gambling Landscape To Allow Offshore Online Casinos

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Despite its small population of 5,6 million and housing only two land-based casinos, Finland is the world’s fifth gambling economy. With the government owned Veikkaus granted the monopoly in Finland, the gaming industry is facing many obstacles as there is only one legal operator available at the moment. As such, many Finnish players have started to embrace foreign based online casinos. At the same time, the EU continues to address the country’s regulators, underlining that the current monopoly is a form of protectionism.

Kasinopartio: The Market Will Be Open in Few Years

Interestingly, Veikkaus reported in its Q3 2022 report that it is no longer able to compete with the growing number of international online casino operators. It now calls for reforms in the gambling landscape, which sees the casino market to open for offshore operators. The Finnish government is therefore expected to come with new regulations for the first time allowing offshore online casino operators to enter the Finnish gambling landscape. For example, a Finnish online casino site Kasinopartio.com is projecting that the opening of the Finnish casino market will be done within the next few years.

2023 Finnish Parliamentary Election

Parliamentary elections will be held in the Scandinavian country on the 2nd of April 2023 to members of parliament for the 2023-2027 term. Reforms of the gambling landscape seem inevitable with most parties in favour of adopting a licence system and thus potential opening of the online casino industry. The Left Alliance is the country’s only party opposing the gambling reforms. According to the preliminary polls, a right-wing government between the National Coalition Party and Finns Party is expected to win the elections. As most of the parties are in favour of the reform, it is not likely that the outcome of the parliamentary elections will affect the adoption of a new gambling law. After the formation of the new government, it will usually takes between 2 and 3 years for the regulation to come into effect. As per Kasinopartio, the regulation has been long waiting, which would mean the new government will tackle it straight after being formed.

Best Practices

With countries such as the UK, the Netherlands, Belgium, and Sweden having adopted and/or reformed their gambling landscapes in recent years, there is enough data that can be used by Finnish industry experts. Finland has announced its willingness to make use of best practices and learn the best lessons in other countries. It is now widely believed that Finland will turn its attention to Sweden and analyse which best practices could be used for the Finnish market. A survey conducted by Finnish opinion poll specialist Bilendi on behalf of the international operator Kasino Curt, has shown that more Finns (31%) support than oppose (27%) the idea of abolishing Finland’s monopoly and adopting a licence system. The interviews were conducted by Bilendi Oy’s nationwide consumer panel in the period from March 20 to 24, 2019. The error margin is set at ±3.1 percentage points.

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Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada

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Wealthsimple announced the release of Wealthsimple Predict, providing retail investors the ability to trade event contracts on Kalshi. The standalone application is scheduled to launch this summer. Through the app, users will have access to approximately 4000 Kalshi event-based contracts in categories Wealthsimple is authorized to offer in the Canadian market, specifically climate, financial markets, and economic indicators.

“Prediction markets are the fastest-growing segment of global financial markets, letting traders turn an opinion into a position on the factors that shape our world – where inflation is headed, what happens to rates, or how the year unfolds. Until now, Canadians have had limited access. Wealthsimple Predict gives Canadians a clean, well-designed way to access these markets, with education and guardrails built in from day one,” said Brett Huneycutt, co-founder and Chief Product Officer, Wealthsimple.

“Kalshi was founded on a simple belief: views on the future should have markets, and those markets should be available to everyone. That’s why we’re partnering with Wealthsimple, Canada’s leading financial innovator – to give everyday investors in Canada access to fair, secure, and regulated prediction markets,” said Alex Cuoci, Kalshi.

In March, the Canadian Investment Regulatory Organization (CIRO) authorized Wealthsimple to offer event and forecast contract trading, also known as prediction markets. These contracts are regulated as futures contracts (derivatives). The approval covers contracts with a 30-day settlement period or longer, within the categories of economic indicators, financial markets, and climate. Wealthsimple is the second investment dealer to receive regulatory approval from CIRO for prediction markets.

To access trading through Wealthsimple Predict, new clients must complete a standard Know Your Client (KYC) process. Education is built into every stage of the experience, including a guided orientation of a client’s first trade. The app also shows users key disclosures and definitions, including trading risk reminders, contract resolution information, notices that positions can be sold at any time, and liquidity risk warnings on lower-activity markets. Wealthsimple Predict will only be available to Canadian residents.

Kalshi is authorized to operate in the US as an event contracts exchange, with federal authority from the Commodity Futures Trading Commission (CFTC), the regulatory authority for the U.S. derivatives market. Prediction markets follow the same regulatory framework applied to other financial assets traded in the US, such as equities, bonds, and traditional derivatives, with clear rules for price formation, settlement, and governance.

The post Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada appeared first on Americas iGaming & Sports Betting News.

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MediaTroopers lines up eight operator partners ahead of Alberta launch

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MediaTroopers said it is preparing to launch in Alberta’s regulated gaming market on July 13, as Canada’s next regulated commercial gaming market opens.

The digital marketing and customer acquisition firm said it plans to enter Alberta alongside eight “premium operator” clients, which it said are also preparing for their own market entries. MediaTroopers did not name the operators.

The company said its Alberta offering will mirror its work in Ontario, including localized acquisition strategies, compliance-focused marketing, regional player education, and market-tailored performance campaigns.

MediaTroopers also said it has seen “strong interest” from Alberta players through pre-registration activity, without providing figures.

“Alberta represents an exciting next step for regulated iGaming in Canada, and Media Troopers is ready to support operators from day one,” said Shmulik Segal, CEO of Media Troopers. “Our experience in Ontario has given us a strong understanding of what it takes to enter a new Canadian market successfully, from compliance and localization to scalable player acquisition. With eight of our premium clients already preparing for launch and early pre-registration traction underway, we see Alberta as a market with tremendous potential.”

The post MediaTroopers lines up eight operator partners ahead of Alberta launch appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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MediaTroopers Makes Preparations for Upcoming Alberta Launch with Eight Premium Operator Partners

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MediaTroopers, the leading digital marketing and customer acquisition firm, has announced that preparations are underway for its upcoming launch in Alberta’s regulated gaming market, scheduled to go live on July 13. As part of those preparations, MediaTroopers will enter the province with eight of its premium operator clients, who are already preparing for their own entries.

With the launch of Canada’s second regulated commercial gaming market, Alberta has quickly become one of the most anticipated market opportunities for operators looking to expand. MediaTroopers has already cemented itself as a reliable partner in Ontario’s regulated market, supporting operators in one of North America’s most competitive markets, and it will bring that same expertise as it enters Alberta.

Much like Ontario, MediaTroopers will continue to support operators in Alberta with localized acquisition strategies, compliance-focused marketing, regional player education, and market-tailored performance-driven campaigns.

MediaTroopers has already seen strong interest from Alberta players through pre-registration activity. With eight of its premium clients also preparing to go live, the company expects to play a pivotal role in helping other licensed operators to build up brand visibility and recognition among players in the region from day one.

With its launch in Alberta, MediaTroopers remains committed to supporting sustainable, responsible, and compliant growth across Canada’s regulated market.

 

“Alberta represents an exciting next step for regulated iGaming in Canada, and Media Troopers is ready to support operators from day one,” said Shmulik Segal, CEO of Media Troopers. “Our experience in Ontario has given us a strong understanding of what it takes to enter a new Canadian market successfully, from compliance and localization to scalable player acquisition. With eight of our premium clients already preparing for launch and early pre-registration traction underway, we see Alberta as a market with tremendous potential.”

The post MediaTroopers Makes Preparations for Upcoming Alberta Launch with Eight Premium Operator Partners appeared first on Americas iGaming & Sports Betting News.

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