The company transitioned from the DraftKings B2B platform to boost its competitiveness in the upcoming Finnish market. Veikkaus will enter the competitive online gambling market alongside private operators starting January 2027.
VP Betting Andreas Reimblad explained to iGB that the company aimed to enhance its betting offering by adopting OpenBet technology, which improved the product quality.
Gaining a Competitive Edge with Internal Odds
The updated product now incorporates an in-house trading team that can create odds for local Finnish sports like ice hockey, floorball, and pesäpallo (similar to baseball).
Reinblad highlighted the unique position they hold due to self-trading capabilities, allowing them to offer markets and products with unparalleled accuracy compared to competitors.
Developing these internal odds will be a key competitive advantage for Veikkaus, according to Reimblad.
“For many international operators, Finland may seem like a small market overall. This gives us a unique opportunity to stand out. We have our own trading team that compiles odds for the market, which is quite rare. In fact, in some local sports, we are the market leader,” Reimblad stated.
In September 2023, Veikkaus entered a four-year partnership with OpenBet to utilize its sportsbook platform and managed trading services, following a competitive tender process initiated by Veikkaus to enhance its product suite in the liberalized market.
At the time of the agreement, Finland operated a gambling monopoly, but there were indications from the government and industry associations about moving towards a more open market.
The process of liberalizing Finland’s market began in July of the previous year when the government unveiled a draft bill outlining guidelines for a more open gambling market.
Transitioning from DraftKings’ B2B Platform
Previously, Veikkaus utilized the SBTech platform, but following its acquisition by DraftKings in 2020, Veikkaus decided to discontinue its B2B operations in March 2021.
Reimblad mentioned the challenges faced with the product’s development after DraftKings announced the discontinuation of its B2B services, highlighting the need to catch up with other operators in the market.
Regarding the launch timeline, he stated, “We are aiming to go live before mid-summer, potentially even sooner. The launch will happen before the football season resumes in August.”
Reinblad joined Veikkaus in July 2024 from Kindred, where he served as the director of sportsbook.
Speaking of his decision to move, he shared, “I felt it was time for a change. The opportunity to implement my ideas independently was a key factor in joining Veikkaus.”
Veikkaus’ EVP for iCasino and Sports Betting, Jarkko Nordlund, expressed his determination in an interview with iGB: “Many are anticipating Veikkaus to falter. It is my personal mission to prove them wrong.”
The sportsbook update is part of a broader restructuring and technological and product transformation at Veikkaus as it readies for Finland’s open iGaming market.
