Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

News

The Finnish gambling question: Is the poor fund the rich?

Published

on

Reading Time: 3 minutes

For many years, Finland’s state gambling monopoly in the form of Veikkaus has been hailed as a model system. Veikkaus operates slot machines, lotteries and betting on horse races, attracting a vast majority of Finland’s population. The gambling proceeds fund organisations in culture, sports, research, youth work, social welfare and health.

In other words, it looks like a win-win situation for all. People can legally gamble, and their losses fund common good causes.

However, things are not rosy they appear. Recently emerged empirical data reveal one particularly serious flaw: problem gamblers – usually economically backward people comprising pensioners, the unemployed and the jobless who mainly use in slot machines – contribute to more than 23 per cent of gambling proceeds. According to a study done by Finland’s National Institute of Health and Welfare (THL), 80 per cent of the Finns gamble. Among them, just 3.3 per cent can be termed as problem gamblers, and they contribute more than one-fifth of the gambling revenue.

Annika Saarikko, Finland’s Minister of Family Affairs and Social Services, has noted that up to 700,000 people in Finland are negatively affected by problem gambling when family members are included.

Jani Selin, an expert on Finnish gambling policy and a researcher at THL, says that the underprivileged are also “overrepresented” among problem gamblers.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“We know this from loads of international studies that people who come from lower socio-economic circumstances tend to gamble more,” Selin said. “It’s an almost universally accepted claim. It is the same in Finland. We have known this for a long time.”

Profit-seeking vs addiction interventions

It has been reported that slot machines – which are usually the biggest problem game for the poor – are more highly concentrated in neighbourhoods with people with lower income, education, and employment levels. In the article, a Veikkaus representative claimed that the placement of machines simply follows “client flows.”

European Union regulations only allow state monopolies that reduce and prevent gambling-related harms. Accordingly, Veikkaus’ executive vice president Velipekka Nummikoski told Yle that the company has a responsibility strategy which affects where it places machines. “Business factors are just one aspect which we base the location of our slot machines on,” he said. “They are by no means the only one.”

Rather than limiting the availability of slot machines as recommended by the Ministry of Social Affairs and Health, Nummikoski explained that Veikkaus’ position is that authentication – where users verify their identities before they can play – (scheduled for 2023) would be the best way to deal with problem gambling. Restricting slot machines to gaming arcades would also mean taking them out of the reach of hundreds of Finnish communities, and Veikkaus says it wants games “to be available to as many Finns as possible in an equal manner.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

THL’s Selin disputes Veikkaus’ claims that profit isn’t driving decisions behind where to place slot machines. “They are only thinking about the revenue – the business side—when they place the slots in the neighborhoods,” Selin said. He and his colleagues think that other factors must be taken into consideration. “It makes no sense to put all the slot machines, for instance, in the neighborhoods where there are lots of socio-economic problems already.”

Neighbording Sweden is one of the only countries which has tried to calculate what economist Earl Grinols calls the “hidden” costs of gambling. In 2009, Svenska Spel, the state-owned gambling company in Sweden, produced a report for the European Commission which looked at a range of issues: the cost of depression, the loss of output through unemployment, the cost of treating problem gamblers, the cost of crime, and cost of state efforts to combat it.

The report says that at least 230–450 million euros (2018 exchange rate) is lost every year, mostly from reduced economic productivity. Because of a number of costs it did not or could not calculate, the report says the number is likely higher.

Svenska Spel’s operating profit was 495 million euros in 2009. This means that gambling proceeds handed over to the government nearly matched the social and economic cost of problem gambling, perhaps even more. While Svenska Spel does not control as much of Sweden’s market (in 2009, about 50 per cent) as Veikkaus does in Finland (today, about 90 per cent), the results are still striking. If all of the hidden costs of gambling were calculated in Finland, where problem gambling is even more of a problem, it is possible the economic loss could be even bigger.

Sources: Yle News / Joel Gillin

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)


Source: European Gaming Media Latest News

Latest News

What makes Turbo Games’ provably fair games so special?

Published

on

what-makes-turbo-games’-provably-fair-games-so-special?
Reading Time: 4 minutes

 

A partnership between game developer Turbo Games and iGaming solution provider and aggregator Slotegrator began in November 2022 via the APIgrator game integration solution. Since then, the collaboration has been developing successfully — and now it’s time to analyze what made it successful.

Turbo Games has noticed how the new technologies spreading throughout the industry can work for the good of brand transparency and player loyalty: “We can already see how blockchain technology has made it possible to make betting checks more accessible to players. All you need is a blockchain-hash and a decoder service. We think we will continue to move in this direction. Many traditional online casinos do not offer the possibility to check the bet. Sooner or later we all have to come to this. Perhaps the development of artificial intelligence will help here, because we are already seeing its involvement in all spheres of human life.”

Turbo Games specializes in provably fair games. Provable fairness is a concept where players can verify their wins or losses using blockchain technology — the outcome of the game is dictated by a smart contract and is absolutely random, barring the possibility of any human involvement. Using cryptographic hashing algorithms, the gambling site and the player’s device both generate seeds (random strings of numbers). Players receive a key that allows them to check the results; if the results are the same as the game round they witnessed, it proves that there was no foul play.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

According to statistics from Turbo Games, the audience for provably fair games is mostly between 18 and 25 years old. However, there are also players aged 35-40 who prefer traditional games but would like to try something new, and have turned their attention to provably fair games.

There are good odds that the technology of provably fair games will become more popular, if not even commonplace, because it gives players a feeling of transparency and proves that the business is trustworthy without the need to search through dozens of reviews. Whereas many innovations in iGaming simply add entertainment, provable fairness addresses security concerns and reassures players that they’re not being exploited, which is invaluable.

Provably fair games are beneficial for both players and online casinos. Vadim Potapenko, Head of Sales at Turbo Games, comments: “It often happens that the users are not satisfied with the result, because gambling is not only about big wins, but also possible losses. By allowing them to check the fairness of a bet, we make life easier for platforms and players. Of course, this allows us to communicate with partners and users that we work honestly and that’s why they should trust our games.”

Ayvar Gabidullin, Business Development Manager at Slotegrator, adds that “this type of game is now becoming more and more popular and has great potential for both players and game providers in the future. On the part of the player, the advantage is that the player can always be sure that his game is fair and he can independently check any of his bets. And for the game provider, this also simplifies the process of implementing casino games, since now it will not be necessary to obtain the appropriate certificates from independent laboratories before launching new games, they can immediately enter the market with these games and where anyone can check the result and make sure that that there is no cheating with players. Many game providers are starting to look towards this type of game. And as far as I see, many operators are starting to think about adding these games.”

What do players in 2023 need? The iGaming industry is all about reputation and trust. Players have a huge number of platforms to choose from, making them pickier and pickier. There’s an abundance of forums where players leave reviews, so if players view a brand as untrustworthy, there are plenty of places they can share their opinion. Provable fairness not only stops that from happening, it provides evidence to the contrary, giving players something else to talk about.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Slotegrator also recommends investing time and effort into localization and creating an effective and detailed marketing strategy — before trying provably fair technology players need to get to the platform, and there is no acquisition without marketing.

 

 ABOUT SLOTEGRATOR

Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.

The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.

Slotegrator also provides consulting services in gambling license acquisition and business incorporation.

More information: https://slotegrator.pro/

 

ABOUT TURBO GAMES

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Turbo Games — a provably fair games provider that belongs to Turbo Stars company — has an ambitious goal to establish widespread recognition throughout the iGaming world. Even though it is young, the company consists of professionals who have been working on the brand for over five years and are even planning to introduce a new brand for a wider audience soon.

Turbo Games also works in Europe, India, and South Africa, where the company sees the most potential and expects the same “hype” as in Brazil.

The portfolio of Turbo Games consists of 21 titles, including well-known games like Mines, Crash X, DoubleRoll, Hi-Lo, and Plinko. The studio releases a game every month. However, not all games are developed from scratch. Wicket Blast and Spin Strike, the last two releases, are based on cricket and the Indian Premier League. Crash X remains the most popular fast game in the Turbo Games portfolio, and the studio reports that crash games enjoy stable levels of popularity. Overall, the main focus of the brand is provably fair games.

More information: https://turbogames.io/

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Baltics

Games Factory Talents has teamed up with Nordic Game to bring you Nordic Game Talents.

Published

on

games-factory-talents-has-teamed-up-with-nordic-game-to-bring-you-nordic-game-talents.
Reading Time: 2 minutes

Looking to take your career to the next level in the games industry? Then, Nordic Game Talents is the place to be! Games Factory Talents has teamed up with Nordic Game to bring you Nordic Game Talents.

From Oct 27-29, the online and interactive event is dedicated to recruitment and career building in the creative & games industry within the Nordic region. The event empowers participants to be part of a bigger community and motivates them to explore new paths in achieving their career goals.

Hiring creative & games studios – Supercell, Funcom, Panzerdog, Tactile Games, Gamecan, Fingersoft, Dazzle Rocks, Redhill Games to name a few from the Nordic region will be participating in the event. These studios will share information on their latest projects, work culture and what it takes to be part of their team. The individual games associations from Finland, Denmark, Sweden, Norway and Estonia will share insights through live sessions on the booming games industry in their respective countries. Career development topics pertinent to job seekers like – How to have a successful first interview, Creative Portfolio reviews will also be discussed.

Experienced game industry professionals and individuals beginning their careers from around the world are welcome to join the event. One-to-one interviews with the hiring studios can be scheduled through the event platform. A great opportunity to get to know the studios and network with game professionals from around the world.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Participating in the event

As a job seeker attending Nordic Game Talents, take a few minutes to fill out a simple registration form. After filling the registration form you will receive a link to the online event platform – PINE, to join the event on 27th October. Participants joining Nordic Game Talents will also receive a free-of-charge pass to the Nordic Game Conference.

To view the complete agenda, please click here and to learn more about the event please visit Games Job Fair

About Games Factory Talents

A Helsinki-based talent attraction agency dedicated to the games & creative industry. Our services include direct recruitment, organizing game job fairs and managing a community of game industry professionals through our GameDev Talent Board.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

To learn more about Games Factory Talents visit – Games Factory Talents

Continue Reading

810 THE SPREAD

Cumulus Media Launches 810 THE SPREAD, the Bay Area’s First Sports Station Focused on Sports Betting

Published

on

 

Cumulus Media (NASDAQ: CMLS) announces that it has launched the Bay Area’s first Sports radio station focused on sports betting, 810 THE SPREAD. The new station brings sports and sports betting news, information, and insights to the burgeoning and underserved sports betting audience in San Francisco. 810 THE SPREAD will deliver behind-the-book perspectives from experts in a highly entertaining and engaging format. 810 THE SPREAD goes live today on the legendary 810am frequency that has been the 80-year home of historic Talk Radio KGO-AM. Cumulus San Francisco also launched the station’s new website at www.810thespread.com. Kevin Graham, Program Director of Cumulus’ sister sports stations KNBR 680AM/104.5FM and 1050 KTCT, adds Program Director duties for 810 THE SPREAD.

Larry Blumhagen, Vice President/Market Manager, Cumulus San Francisco, said: “810 THE SPREAD joins our sports brands KNBR 680AM/104.5FM and 1050 KTCT for a trifecta of dynamic sports content across four signals and streaming everywhere. We are excited about this new chapter and look forward to serving the Bay Area’s passionate sports fans in an incomparable way.”

Blumhagen added: “This is a bittersweet day for us, as it’s hard to say goodbye to the legendary KGO, which has been a part of listeners’ lives for so many years. We want to thank all the people who have been a part of KGO’s historic run these many years – and the listeners who loyally tuned in to the station. Times change, and we must change with them.”

Kevin Graham, Program Director, 810 THE SPREAD, said: “810 THE SPREAD will be the Bay Area’s best bet for sports fans and sports betting enthusiasts, and we are pleased to introduce sports-betting radio to our community. The station will feature a lineup of expert personalities that deliver unique sports talk and sports betting insights that entertain, inform, and engage, along with Cal Football and Basketball as well as select professional and college sports play-by-play events. While 810 THE SPREAD will feature specific gambling information, we believe our entertaining presentation will make it a favorite for all Bay area sports fans and a perfect complement to the legendary KNBR and KTCT. With its addition, it truly shows Cumulus’ commitment to the Bay area as ‘The Sports Leader’!”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The weekday programming lineup for 810 THE SPREAD includes:

6am-9am – Bet QL Daily – The must-consume show for sports fans and betting fans alike. Hosted by Joe Ostrowski, Joe Giglio, and Erin Hawksworth.

9am-12pm – Jim Rome - Aggressive, informed sports opinions, rapid-fire dialogue, and plenty of sports smack. As one of the most prolific sports talk hosts in America, Rome draws massive tune-in with legions of fans known as clones, who live for Rome’s take on the day’s largest issues in sports.

12pm-4pm – You Better You Bet – Nick Kostos and Ken Barkley have you covered for the best bets on the biggest matchups, the latest line movement and updates in the futures market. We’ll have up-to-the-minute coverage of backdoor covers and bad beats, and the cheers and tears that come with them. It’s sports betting conversation like you’ve never heard before.

4pm-8pm – Bet MGM Tonight – Live sports betting updates for all the night’s games as they happen – plus live “look-ins” for Major League Baseball games in progress. Get the latest scores, sides, totals, props, parlays, futures, and much more with hosts Quinton Mayo, Trysta Krick, and Ryan Horvat.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

8pm-12 Midnight – CBS Sports Radio

BetQL Network programming is provided by Cumulus Media’s Westwood One through a partnership with Audacy.

For more information or to stream 810 THE SPREAD, visit: http://www.810thespread.com.

Continue Reading

Trending