Veikkaus weeks away from OpenBet-powered sportsbook launch
Veikkaus is poised to relaunch its sportsbook in the coming weeks, leveraging OpenBet’s advanced platform while being supported by an expert in-house trading team that specializes in generating odds for popular Finnish sports.
In a strategic shift aimed at bolstering its competitive stance, Veikkaus transitioned from the DraftKings B2B platform. This move allows the operator to better position itself in the burgeoning Finnish online gambling market, expected to open to private operators by January 2027.
Andreas Reimblad, VP of Betting at Veikkaus, recently shared insights with iGB, emphasizing the operator’s commitment to enhancing its betting offerings. The integration of OpenBet technology has significantly improved the quality of their sportsbook product.
A Competitive Edge with In-House Odds
The enhanced sportsbook is empowered by Veikkaus’ dedicated trading team, which excels in generating precise odds for local Finnish sports such as ice hockey, floorball, and pesäpallo (a traditional Finnish game akin to baseball).
“A major factor in our decision to partner with OpenBet was the desire for self-trading capabilities,” Reimblad explained. “We view this as a unique position in the marketplace, enabling us to create markets that are unmatched in accuracy and reliability.”
Reimblad further asserts that producing these in-house odds constitutes a significant competitive advantage. Notably, Veikkaus recognizes Finland as a relatively small market for many international operators, but this unique positioning allows them to stand out. “Not many companies maintain their own trading team responsible for compiling odds tailored to the market. In some of our local sports markets, I would confidently state that we are the market leader,” he noted.
In September 2023, Veikkaus formalized a four-year agreement with OpenBet, incorporating their sportsbook platform and managed trading services. This collaboration signifies Veikkaus’ commitment to improving its product suite and adapting to the forthcoming liberalization of the gambling market.
The movement towards market liberalization began in July of the previous year when the Finnish government proposed guidelines for cultivating an open gambling environment, indicating a progressive shift in national policy.
Transitioning Away from DraftKings’ B2B Platform
Previously, Veikkaus operated on the SBTech platform, which was acquired by DraftKings in 2020. Following the acquisition, DraftKings announced its intention to discontinue B2B operations in March 2021.
Reimblad commented, “Our then-current supplier, DraftKings, indicated they would halt their B2B offerings. Product development under their direction had been less than ideal, especially as we observed other operators rapidly evolving their platforms.”
Looking ahead, Reimblad anticipates a launch before mid-summer, with plans to go live ahead of the football season’s restart in August.
Joining Veikkaus in July 2024 from Kindred, where he served as Director of Sportsbook, Reimblad expresses enthusiasm for the new role. The freedom to implement innovative ideas was a significant motivating factor behind his transition.
“I wanted a fresh challenge,” he affirmed.
Additionally, Jarkko Nordlund, EVP for iCasino and Sports Betting at Veikkaus, recently stated in an interview, “There’s a prevalent sentiment anticipating Veikkaus’ failure, but I consider it my personal mission to prove those doubters wrong.”
The sportsbook revamp is a crucial component of Veikkaus’ broader strategy, involving a comprehensive restructuring and technological overhaul as it gears up for Finland’s imminent open iGaming market.
