Finland’s Bold Move to Re-Regulate the Gambling Market

• The Finnish government is advancing a bill to re-regulate the gambling market.
• Operators will compete for licenses in 2026 with stringent advertising rules.
• Health organizations caution that regulation alone may not significantly reduce gambling-related harm.

Finland has embarked on a much-discussed and ambitious initiative to re-regulate its gambling market, opening it to independent commercial licenses. This initiative begins with the introduction of a new bill to the nation’s parliament, aiming to dismantle the monopoly held by Veikkaus, the state-owned gambling entity.

Transition from Veikkaus’ Monopoly to a License-Based Framework

According to the proposed legislation, Veikkaus will be dissolved by the end of 2026 and replaced by a license-based system. This will allow international gambling operators to apply for licenses to offer their services within Finland. This move follows extensive debates concerning the future of the country’s gambling industry.

It is estimated that a significant portion of Finnish gamblers are already engaging with offshore websites that are not registered domestically. This situation results in substantial tax revenue being lost to foreign entities. Moreover, these foreign platforms often provide fewer player protections, raising concerns about potential gambling addiction issues.

The Finnish government aims to establish a regulated gambling industry that will safeguard the population from gambling-related harms while simultaneously increasing state revenue. However, health experts have expressed concerns that merely legalizing the gambling sector and permitting certain forms of advertising may not achieve the desired reduction in gambling-related issues.

The proposed reforms are still pending final approval by lawmakers. The core objective of the bill is straightforward: dismantle Veikkaus’ monopoly and replace it with a variety of gambling companies that adhere to predefined criteria consistent with European regulations and best industry practices.

Under this new regulatory framework, licensed companies will be authorized to offer online casino games of chance. However, Veikkaus will maintain its exclusive rights to provide scratch cards and lottery tickets, thus retaining a presence in these specific domains.

Finland Implements Consumer Safeguards in New Gambling Regulations

The new legislation aims to protect consumers by establishing strict guidelines on certain marketing practices. For instance, advertising by popular influencers and personalities will be prohibited, following similar measures adopted by other countries, such as the Netherlands.

Additionally, physical advertising for high-risk gambling products will be restricted as part of Finland’s effort to protect consumers. The new industry framework will also include detailed regulations on monthly deposit limits for players, although it will not explicitly monitor losses.