Veikkaus
Encyclopedia
Veikkaus Oy is the Finnish
national betting agency. It is entirely owned by the Finnish government
and has a legal betting license on lotteries and sports betting in Finland. Veikkaus is managed by the Finnish Ministry of Education. Ministry of Education share money earned by Veikkaus with various organizations. In 2010 Veikkaus gave 462.7 million euros for Ministry of Education for sharing. The rules of the games and gaming itself is controlled by the Finnish Ministry of Internal Affairs.
, which generates more than a third of the company's total sales. Other important games are Football pools and Fixed Odds Betting (forms of sport
s betting), and the Ässä scratch tickets.
The Finnish Ministry of Education is responsible for allocating the profits
produced by Veikkaus's activities in a socially optimal way between amateur sports, the art
s, science
and youth work
. These profits exceed a million euro
s daily, and constitute a significant part of government expenditure in these fields.
Veikkaus was founded in 1940 by the Football Association of Finland
and the Finnish Workers' Sports Federation
under the name Oy Tippaustoimisto AB. The agency first offered only sports betting, but in 1971 the Finnish national lottery was kicked off, and it proved a huge boom. Today, approximately seventy per cent of Finnish people say they take part in the Lottery at least annually.
In August 2009 Veikkaus's Web site was a target of heavy DDoS attack during several days and the agency blocked its site and services from foreign-based users.
Finland
Finland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...
national betting agency. It is entirely owned by the Finnish government
Government
Government refers to the legislators, administrators, and arbitrators in the administrative bureaucracy who control a state at a given time, and to the system of government by which they are organized...
and has a legal betting license on lotteries and sports betting in Finland. Veikkaus is managed by the Finnish Ministry of Education. Ministry of Education share money earned by Veikkaus with various organizations. In 2010 Veikkaus gave 462.7 million euros for Ministry of Education for sharing. The rules of the games and gaming itself is controlled by the Finnish Ministry of Internal Affairs.
History
Veikkaus organises 20 different games, the most popular being the Finnish national lotteryLottery
A lottery is a form of gambling which involves the drawing of lots for a prize.Lottery is outlawed by some governments, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of regulation of lottery by governments...
, which generates more than a third of the company's total sales. Other important games are Football pools and Fixed Odds Betting (forms of sport
Sport
A Sport is all forms of physical activity which, through casual or organised participation, aim to use, maintain or improve physical fitness and provide entertainment to participants. Sport may be competitive, where a winner or winners can be identified by objective means, and may require a degree...
s betting), and the Ässä scratch tickets.
The Finnish Ministry of Education is responsible for allocating the profits
Profit (accounting)
In accounting, profit can be considered to be the difference between the purchase price and the costs of bringing to market whatever it is that is accounted as an enterprise in terms of the component costs of delivered goods and/or services and any operating or other expenses.-Definition:There are...
produced by Veikkaus's activities in a socially optimal way between amateur sports, the art
Art
Art is the product or process of deliberately arranging items in a way that influences and affects one or more of the senses, emotions, and intellect....
s, science
Science
Science is a systematic enterprise that builds and organizes knowledge in the form of testable explanations and predictions about the universe...
and youth work
Youth work
In the United Kingdom youth work is the process of creating an environment where young people can engage in informal educational activities. Different varieties of youth work include centre-based work, detached work, school-based work and religion based work....
. These profits exceed a million euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
s daily, and constitute a significant part of government expenditure in these fields.
Veikkaus was founded in 1940 by the Football Association of Finland
Football Association of Finland
The Football Association of Finland is the governing body of football in Finland. It was founded in 1907, and was also the governing body of bandy in Finland until the bandy association, Suomen Jääpalloliitto, was founded in 1972....
and the Finnish Workers' Sports Federation
Finnish Workers' Sports Federation
The Finnish Workers' Sports Federation is a Finnish amateur sports organisation, with a strong labour union background. It is affiliated with the Central Organisation of Finnish Trade Unions as well as the Social Democratic Party of Finland. It is also a member of the International Labour Sports...
under the name Oy Tippaustoimisto AB. The agency first offered only sports betting, but in 1971 the Finnish national lottery was kicked off, and it proved a huge boom. Today, approximately seventy per cent of Finnish people say they take part in the Lottery at least annually.
In August 2009 Veikkaus's Web site was a target of heavy DDoS attack during several days and the agency blocked its site and services from foreign-based users.
External links
- Veikkaus Oy - The official site.
- Veikkaus briefly in english
- CSR & Annual Report 2010 - Corporate Social Rensonsibility report & Annual Report 2010