Finance Times

Finnish Online Casino CEO Fired After a 700,000€ Mistake

By Diane Jacobs

If you live in Finland and want to earn some extra money easily, then this may be the most exciting article you'll ever read.

Trusted online casino operator Magic Red (NASDAQ: MRCINC) has made a costly mistake after launching their online casino in Finland that caused the company to lose hundreds of thousands of euros to players.

This glitch has already lost them close to 600,000 euros in free spins and cash prizes and the loss is going to continue to increase until when Magic Red's new customer agreement takes effect.

What Exactly Happened?

Olli Muranen, an experienced player from Helsinki who discovered the loophole explains,

"Magic Red's new promotional campaign for new customers in Finland was supposed to give up to €500 of free credits to all new customers that deposited at least €25 to their account. Unfortunately for them, they had a wording error in the agreement so each new customer can get up to 500 euros of free credits.
As a result, people are using the free credit and hitting jackpots that is costing Magic Red heavily in Finland. What is making matters even worse for the company is that there is no way for them to fix it due to the strict gambling laws in Finland which require casino companies to notify at least 7 days in advance before changing their terms and conditions. So getting these bonuses for free is completely legal."


Magic Red's CEO in Finland, Peter Nyholm was fired immediately after the incident and the new manager Tapio Vesisaari has a lot of fixing to do. Vesisaari responded to our enquiry via email,
"This has been a very unfortunate and costly mistake for the company but we have to learn from it and move on. Finnish market is very important to us and we are here to stay even after this costly error for the company."

Here is how Finns are claiming their free money:

1. They sign up on the Magic Red's Finnish campaign page

2. They will make a deposit of at least €25 to verify their account and to claim their earnings

3. They use the free credits they receive to win money without a risk of losing - completely legally!

Click here to check if this offer is still available in Finland


As of , the free bonus loophole at Magic Red is still available.

Magic Red's new customer agreement will become active on and this loophole can no longer be used.

If you are located in Finland then click here to claim your free bonus now!

    • Caitlin Grainger

      I just saw this on the news. Just crazy that they made such error!

      • Tarja Halvari

        I live in Finland. A friend of mine told me about this opportunity. I have tested it a few hours ago and i can confirm that this loophole still exists. I got 350 euros for free and won 427 euros with my nineth spin :D. Get it while it lasts!

    • Toumo Parviainen

      The timing of this could not be better. I just needed some extra money to buy myself a new phone (Y)

    • Taimi Ollila

      My friend told me about this the other day and I thought he was joking. Can't believe this is actually true. I'm going to give this a shot. With all the scams online it's hard to find a legit offers now a days.

    • Anika Ramzi

      Even though I was skeptical i went ahead and signed up. Everything looks great. I got the free credits when i deposited 20 euros.