Sports betting technology provider SBTech today announced that it has been selected to power the retail betting network and online betting operation of Finland’s gambling monopoly Veikkaus.
SBTech won earlier this year a public procurement process to secure a multi-year partnership with the gambling operator and help it “elevate and enhance” the offering it provides to Finnish customers.
SBTech said today that it has started integrating its sports betting platform technology to Veikkaus’ online channel. The Finnish operator is set to launch its brand-new sportsbook in early 2020. The move will be followed by the launch of SBTech’s platform across Veikkaus’ retail network, which is composed of more than 3,000 outlets across the country.
News about the state-run monopoly opting for SBTech’s sportsbook technology arrive as Veikkaus is undergoing a multi-million revamp of its digital casino gaming arm. The operator announced last fall that it has joined forces with major casino content suppliers such as NetEnt and Yggdrasil Gaming to make their titles available to Finnish players.
Veikkaus is the only business authorized to provide gambling services, both across brick-and-mortar facilities and online, on the territory of Finland. However, the company has struggled to compete with unregulated operators that have been targeting Finnish players with attractive bonus offers and other incentives as well as diverse products.
Veikkaus’ recently announced multi-million investment into upgrading its digital arm comes as part of its effort to channel more customers into Finland’s regulated market.
Transforming Veikkaus’ Betting Offering
SBTech said that its sportsbook platform will transform the Finnish operator’s sports betting offering in a manner that will help it drive incremental revenues and build a market share. Key aspects of SBTech’s revamp will include an overhaul of Veikkaus’ existing pre-match and in-play betting services, the addition of bespoke user interface that will be designed for Finnish players, and tailored risk management, among others.
After the integration of SBTech’s platform, Finnish customers of Veikkaus will be able to choose from more than 55 sports and over 2,000 betting markets.
Of their partnership with the Finnish gambling monopoly, SBTech Chief Development Officer Andrew Cochrane said that they look forward to working with Veikkaus’ team to provide “a comprehensive range of innovative features.” Cochrane added that their collaboration with the operator shows the sportsbook technology provider’s commitment to the Nordic region.
Veikkaus Vice President – Betting, Sami Kauhanen, commented that deploying SBTech’s leading-edge technology will significantly enhance their “odds compilation, risk management, and results generation.” Kauhanen added that this means they “can free our sources to focus on our core strengths, such as increasing the attractiveness of our domestic betting offering.”
Aside from its Nordic focus, SBTech has also been looking to extend its stronghold in the US betting market. The company’s technology is currently powering sportsbook across three US states. Most recently, SBTech went live in Arkansas through a partnership with Oaklawn Racetrack and Casino.
Its sportsbook is also live in New Jersey with Golden Nugget and Resorts Casino, and in several Mississippi properties.
Reports emerged last month that US sports betting and DFS operator DraftKings was in advanced talks to buy SBTech to secure an in-house sports betting platform that would play an instrumental role in its US expansion strategy.
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