Finland Advances Gambling Reform Bill, Aiming for Competitive Market

528
March 24th, 2025
Back Finland Advances Gambling Reform Bill, Aiming for Competitive Market

Finland has taken a significant step toward transforming its gambling landscape with the introduction of a bill that would dismantle the existing monopoly held by state-owned Veikkaus. Submitted to Parliament on March 20, the proposed legislation outlines a new licensing system that would allow private operators to enter the online gambling market.

Proposed Changes to Finland’s Gambling Industry

Currently, Veikkaus controls online gambling, including lotteries, sports betting, and casino games. However, under the proposed changes, this monopoly would end by late 2026. Private operators would be eligible to apply for licenses starting January 1, 2026, with the new market expected to be fully operational by early 2027. Despite these changes, Veikkaus would retain exclusive rights to lotteries, scratch cards, land-based slot machines, and physical casinos.

The government argues that this shift would curb illegal gambling by channeling players toward licensed platforms with stronger consumer protections. “The aim of the bill has been to find a regulatory solution in which the regulation combating gambling harms would be balanced with the fact that gambling companies want to apply for a license and that online gambling would be directed to a regulated gaming offering,” said Minister of the Interior Mari Rantanen when presenting the bill to Parliament.

The bill will now proceed to parliamentary subcommittees for review. While some amendments may be made, these are not expected to cause significant delays. Rahapeliala Ry’s CEO, Mika Kuismanen, previously suggested that the legislation could be passed by June 2025. However, gaming lawyer Antti Koivula believes the final vote will likely take place in the autumn. “Minor modifications are expected before the parliament votes on its approval, likely in autumn 2025,” Koivula stated on LinkedIn. He emphasized that with widespread political backing, the vote should be a formality.

Additional Reforms in the Bill

Alongside market liberalization, the proposed legislation introduces several regulatory measures. Notably, commercial operators would be allowed to offer horse race betting, previously restricted to Veikkaus. The legal gambling age would remain 18, and all players would be required to verify their identities before participating. A centralized self-exclusion system would also be implemented, allowing consumers to block themselves from all licensed gambling sites.

Operators would be obligated to monitor player behavior for signs of problem gambling and take proactive measures to prevent excessive losses. Additionally, licensees would be required to implement safeguards against gambling-related crimes, such as money laundering.

A new Licensing and Supervision Authority is set to be established to oversee the regulated market. This entity would take over from the National Police Board at the start of 2027, ensuring compliance with gambling regulations, conducting audits, and enforcing penalties for violations.

The bill also introduces stringent advertising regulations. While licensed operators will be permitted to promote their services, marketing must not target minors or vulnerable groups. Influencer marketing will be prohibited, and advertisements for high-risk gambling products like online slots will be banned from public spaces and near schools.

Licensed operators will still be able to conduct limited promotional activities through their websites and social media. Sponsorships will be allowed under specific conditions, though they must not explicitly feature gambling content or involve individuals under 18.

Revenue Collection and Market Oversight

Under the new system, revenue from licensed operators would come through corporate taxes and licensing fees. Veikkaus would continue contributing to state revenues through dividends and payments for its exclusive operations.

The Licensing and Supervision Authority would oversee compliance, ensuring operators maintain fair gaming practices. License holders would be required to report their activities annually, while penalties for violations could range from fines to license revocation for severe breaches.

With these regulatory changes, Finland aims to align its gambling market with other European countries like Sweden and Denmark, where similar licensing models have been adopted. The next steps will depend on parliamentary discussions and potential adjustments before the final vote, expected later in 2025.

Source:

‘’The gambling system will be reformed - The betting and online casino gaming market will be opened to competition with a licensing model’’intermin.fi, March 20, 2025.

Back to articles
Play at US friendly Bovada now!

Search

Search Results

Select language

English English

Don't show this again

Share on Facebook

Share on Twitter

Share