Finland Reports An All Time Low Problem Gambling Numbers
Summary
- Veikkaus reports massive decline in problem gamblers
- Slot machine revenue has dropped by over 80 percent
- Number of slot players have reduced by 50,000
Finland has made some tough decisions in the last two years to reduce problem gambling numbers in the country and those efforts appearing to be working really well.
Veikkaus which has a gambling monopoly in the country and is government owned reported that problem gambling numbers in the country is now at an all-time low.
Problem Gambling Numbers Drop
Veikkaus was keeping a close watch on slot machines as this was one of the favorite games that Finnish players enjoyed. Slot machine games had a max loss limit of €2,000 each month which Veikkaus felt was too high.
When COVID-19 showed up in 2020 and caused a massive lockdown in Finland, the government passed a new rule that reduced the max loss limits of fast paced games like slot machines from €2,000 to €500 each month from April 2020. The law was passed as the Finnish government wanted to protect vulnerable players from going overboard and betting too much during the lockdown.
While the €500 loss limit was imposed as a temporary restriction, the government decided to extend this rule and make it permanent from June 2021. The government made another tough decision in August 2021 when it decided to take the €500 loss limit from online slots and impose the same on land based slot machines.
This has been one of the main reasons why problem gambling numbers have dropped. Veikkaus published data which showed that more than 100,000 players were forced to stop playing slot machine games during Sep and Oct 2021 as they maxed out their monthly deposit limit.
Slot Machine Revenue Plummets By 80 Percent
Chief Data Officer for Veikkaus, Lauri Halkola said stats showed that players hit their ceiling 60 percent more in Sep and Oct than the previous months. Halkola pointed out that 80 percent of the players who hit their ceiling had imposed a max loss limit of €200 or less.
Veikkaus has also reported a significant decline in slot machine revenue. Based on the percentage Veikkaus derives from slot machine revenue, they are project to lose around 84 percent in revenue. The operator has also said that the overall number of slot players in 2021 has declined by over 50,000.
Veikkaus will continue to move forward with these measures in place as the end objective is to reduce problem gambling in Finland.
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