The gambling monopoly in Finland, Veikkaus, has made the interim online gambling loss limitations imposed during the epidemic a permanent part of the country’s gaming regulations.
As a result of the now-permanent changes, Finnish internet bettors will only be permitted to lose a maximum of €500 (£429/$596) every day when playing Veikkaus’ online casino games – half the former daily cap of €1,000.
Furthermore, the monthly loss limit of €2,000 will become a permanent measure, according to a regulation published by Finland’s Minister of the Interior, Maria Ohisalo, on June 18th.
Daily and monthly loss limits
All online casino and slot players will be need to set their own daily and monthly loss limits, which must be less than €500 per day and €2,000 per month under the new legislation.
In addition to the maximum loss limit, all players must always set their own daily and monthly loss limitations, as required by regulation. Maximum loss limits cannot be higher than self-imposed restrictions.
“The reduced maximum loss limit has been in use for a year,” Ohisalo remarked. “Loss limits are a good way to prevent gambling harm.
“In addition to gambling problems, lowering the loss limit will combat over-indebtedness and livelihood problems, and I am pleased that the daily loss limit will be permanently reduced from €1,000 to €500.”
Limits were first implemented in May 2020, with the intention of being temporary, due to concerns that online gambling might grow amid government-mandated countrywide lockdowns during the COVID-19 pandemic.
However, Finland’s authorities have repeatedly prolonged the measures, with the most recent decision in late March stretching the interim measures’ end date back to June 30.
Prior to the pandemic, Veikkaus’ 2020 strategy had already identified improving responsible gambling initiatives as a key goal, though the plans had primarily focused on reducing the number of slot machines in operation across Finland, as well as requiring identification to play slots and other games.
The betting and gaming monopoly requested in August 2020 that the Finnish government move the implementation date for new mandatory authentication procedures from 2023 to the end of June 2021, requiring a change to the country’s Lottery Act.