Veikkaus Declares €1,500 Loss Cap And ID Requirement For Retail Betting

Veikkaus Declares

Veikkaus, a Finnish betting and gambling operator, has announced that the operators have added identification requirements and a daily betting limit for retail wagering on final match results. The additions will be implemented from 10th June 2021.

Gamblers who have placed any such bets at the points of sale will only have a daily €1,500 wagering limit. The operators have also introduced the ID requirement in order to pursue Veikkaus’s responsible gaming initiative, which has already been implemented for slot machines.

Players who are willing to pursue retail betting must be registered as “Veikkaus Loyal Customer.” The players must be able to present any form of identity proof such as a driver’s license or Veikkaus card.

By imposing stricter limits, the company has high hopes that the restrictions will facilitate age limit controls when it comes to betting, as well as the operator plans to allow players to keep track of their gambling history in order to retain responsible gambling.

The rules for ID requirement and €1,500 loss cap will be applicable on kiosks, shops, traffic service stations, restaurants, and Veikkaus’s own gambling venue.

Veikkaus Declares

Juha-Matti Mäkilä, Veikkaus’s Betting Director, commented, “The condition of identification and the spending limit also mean that we are better able to prevent money laundering and match fixing in fixed-odds betting, which has been the most sensitive to abuse as a game form.”

“In Finland, match fixing and related betting abuses have already become smaller than in our neighboring countries. We are now continuing this work with the identification requirement and daily €1,500 purchase limit for point-of-sale gaming.”

Earlier this year, the Finnish Ministry of the Interior has recently issued a decree which will significantly reduce monthly and weekly loss limits for online casinos provided by Veikkaus. The operator has recently announced that the lottery draw will be suspended until further notice.

The decree claimed that the monthly loss limits for fast-paced online games will be shortened from €2,000 to €500 due to the noticeable exceptional circumstances that can be caused by the novel coronavirus pandemic.

The maximum amount of loss that per player can handle has been reduced from €1000 to €500, and if a gambler loses €500 in a day, he or she won’t be able to gamble for the entire month.

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