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Finnish Minister Says State Should Treat Gambling Monopoly Revenues like Alcohol Profits

Published

4 years ago

August 10, 2021

Reading Time: 2 minutes

Antti Kurvinen, Finland’s minister of science and culture, has proposed that revenues from the state-owned gambling monopoly, Veikkaus, be transferred to the state budget.

On Saturday Kurvinen said that the betting agency’s income is declining, and without a change so will the income of charities and other groups that benefit from its profits. Veikkaus revenues are distributed to organisations in the fields of culture, sports, science, and youth work as well as social welfare and health.

Kurvinen proposed making the change from the beginning of 2024.

European Gaming Congress 2024 (Warsaw, Poland)

“My view is that from the beginning of 2024, Veikkaus’ income should be transferred to the state budget in the same way as, for example, Alko transfers its own dividends and income to the state budget, from which they are used for good purposes,” Kurvinen said.

Kurvinen said that he has reached the same position on the matter as a working group chaired by former Bank of Finland Governor Erkki Liikanen, which last spring proposed a comprehensive reform to divert gambling revenues to general government revenue and transfer current beneficiaries to the budget framework procedure.

The need for reform is due to Veikkaus’ declining income. This is due to a drop in slot machine revenues because of the coronavirus pandemic, as well as measures taken to tackle gambling addiction.

“Without a clear change and reform, we will find ourselves in a situation where the income of Veikkaus’ beneficiaries is constantly falling. This is about the income of Finnish science, culture, youth organisations and especially sports and exercise,” Kurvinen said.

According to Kurvinen, the distribution of Veikkaus revenues through the budget would bring predictability to cash flows, which is essential for beneficiaries.

“Recent years have shown that we are in a strange situation here: the success of a Finnish gaming company determines what kind of resources there are, for example, for top Finnish sports and youth sports or for high-level Finnish research. This creates a strange, uncertain situation,” Kurvinen said.

The problem with the new way of distributing Veikkaus, revenues has been that it would make the funding of beneficiaries dependent on political decision-making.

Kurvinen does not deny that the change would increase the role of political decision-making, but said he considers that a lesser evil than the uncertainty and funding cuts that lie ahead if no reforms are made.

“In the long run, however, it would be clearer and less problematic to make political value decisions than for the success of Veikkaus’ business to be the determining factor in how many opportunities there are for young researchers in Finland or how much art is funded in Finland,” Kurvinen said.

EurAsia

Tower Rush by Galaxsys Wins ‘Best New Game 2025’ at AIBC Eurasia Awards

Published

4 hours ago

February 27, 2025

George Miller

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Galaxsys is proud to announce that one of its latest game releases, Tower Rush, has been named “Best New Game 2025” at the AIBC Eurasia Awards.

The AIBC Eurasia Awards celebrate the best in innovation and excellence across the iGaming industry, bringing together industry leaders to recognise the year’s top performers. Galaxsys is proud to be among this year’s winners, with its new turbo game, Tower Rush, receiving its second award as “Best New Game 2025”.

Tower Rush, a unique blend of strategy and thrill, has quickly gained popularity across multiple regions. The game’s unique mechanics challenge players to think strategically while keeping the gameplay fun and intuitive.
By making quick decisions and balancing risk and reward, players build an endless chain of floors, stacking them to achieve the highest possible odds. This combination of intuition and strategy has made Tower Rush a standout addition to Galaxsys’ portfolio.

Hayk Sargsyan, CEO of Galaxsys, commented, “Tower Rush receiving its second industry award, this time at AIBC Eurasia, is a proud moment and a great achievement for us. It’s also a clear sign that our vision for engaging, high-quality games resonates with both players and industry experts. We’re thankful for this recognition and feel even more motivated to continue pushing forward. With the new releases we have planned for this year, we’re determined to keep raising the bar with each game, bringing fresh and innovative experiences to players around the world.”

Galaxsys is passionate about developing innovative, engaging, and visually attractive games. Tower Rush exemplifies this dedication, combining dynamic gameplay with interactive design to offer players a thrilling and rewarding experience.

The post Tower Rush by Galaxsys Wins ‘Best New Game 2025’ at AIBC Eurasia Awards appeared first on European Gaming Industry News.

Latest News

In the Game with Betandyou: major updates and what to expect this season

Published

4 hours ago

February 27, 2025

Wladimir P.

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Reading Time: 2 minutes

Betandyou is entering the new season refreshed. The changes have touched every aspect: new positioning, an updated team, ambitious goals, and even more rewards for players. The company aims to create the best experience for everyone who joins its community.

“In the Game” – the new slogan of Betandyou

Betandyou is becoming an even more player-centric brand. The new slogan, “In the Game,” reflects the company’s mission: to make the gaming experience as exciting and comfortable as possible. To achieve this, not only has the brand communication changed, but the internal structure has also been reorganized—new departments for player interaction have been introduced, ensuring faster issue resolution and personalized offers.

“We are evolving to become even more convenient and to provide a top-tier service for our players. Every update is aimed at enhancing user experience and making Betandyou the best place to play,” commented the CEO of Betandyou.

A renewed approach to player interaction

Over the past six months, the Betandyou team has conducted in-depth research into its audience, their interests, and needs. Based on this research, new special offers, personalized promotions, and enhanced communication have been introduced. Communication is now simpler, more accessible, and easier to understand. Additionally, the company has localized the platform for key regions, ensuring players from all over the world feel at home.

Technical updates

New homepage – everything players need on one screen.
Simplified navigation – favorite games are accessible in one click.
Visual refresh – bright colors and modern design to please even the most discerning aesthetes.

Bonus and Promo Updates
Key regions now feature improved welcome bonus conditions, and the range of promotions has grown significantly. Betandyou offers even more rewards and activities, making the gaming experience even more exciting.

Welcome Package

1st Deposit – 100% Bonus
2nd Deposit – 50% Bonus
3rd Deposit – 25% Bonus
4th Deposit – 25% Bonus

These updated bonus conditions are part of Betandyou’s broader strategy to enhance player engagement and provide more value. Continuing to refine its promotions to meet the needs of a growing audience.

The post In the Game with Betandyou: major updates and what to expect this season appeared first on European Gaming Industry News.

Asia

GR8 Tech Expands Reach Across Asia and Latam Through Betting Software Partnership

Published

5 hours ago

February 27, 2025

George Miller

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Reading Time: < 1 minute

GR8 Tech has partnered with B2B gambling software provider Betting Software (BSW) to integrate its highly sought-after Sportsbook iFrame Solution into BSW’s offerings. The iFrame stands out for its easy integration and powerful margin management features, which have made it one of the most popular solutions of 2024. By adding the iFrame to BSW’s sportsbook aggregation, GR8 Tech’s innovative technology will reach a broader network of operators.

Bulat Fakhrutdinov, Head of Partnerships at BSW said, “GR8 Tech’s iFrame excels in sports selection and operational flexibility, making it a perfect addition to our portfolio. Our clients will gain access to a superior solution that effortlessly enhances their sportsbook offerings to the fullest.”

“We’re incredibly excited to partner with BSW and bring our iFrame solution to even more operators. It’s already a game-changer in the industry, and we are actively expanding its reach. This partnership is a strong endorsement of the value our iFrame brings, and it’s a big step forward for us as we continue to grow and innovate,” Yevhen Krazhan, CBDO at GR8 Tech added.

GR8 Tech’s Sportsbook iFrame stands out with its broad content offering, featuring over 50 sports and esports, 25,000 daily events, and more than 2,000 betting markets. This extensive selection caters to a variety of player preferences. The iFrame’s easy integration and mobile-first design help operators quickly respond to market trends. Plus, with AI-powered content recommendations and advanced risk management, the iFrame boosts player experience and helps operators optimize margins and minimize risks. Its margin personalization feature can increase profits by over 15%, giving operators a clear edge in profitability management.

To see how GR8 Tech’s iFrame solution can elevate your iGaming business, connect with the team at upcoming events: SBC Summit Rio on February 25-27 and SPiCE South Asia on March 4-6.

The post GR8 Tech Expands Reach Across Asia and Latam Through Betting Software Partnership appeared first on European Gaming Industry News.