Finland Advances Toward Opening Gambling Market through New Legislation

The Finnish government has introduced a bill to Parliament that aims to dismantle Veikkaus' monopoly over online gambling by the end of 2026, marking a significant shift in the country's gambling landscape.

Under the proposed legislation, the Finnish market will open up to international gambling companies under a new licensing system. A newly established gambling regulatory authority will oversee the industry, ensuring compliance with Finnish law. This move is expected to prevent money from flowing into the hands of offshore operators with minimal consumer protections.

Veikkaus will retain its monopoly over lotteries, scratch cards, slot machines, and casino gaming. However, sports team sponsorships will be allowed, providing an opportunity for private operators to establish a foothold in the market.

The new framework also includes stringent advertising regulations. Gambling ads near schools will be prohibited, and social media influencers promoting gambling will be banned. Outdoor advertising for online slots and casino games will also be restricted.

The government has envisioned that a well-regulated market with high channelization rates should not only bolster revenue streams but encourage safer play. However, the Institute for Health and Welfare (THL) argues that opening the market and boosting advertising may increase problem gambling levels.

Debates about including horse race betting in the commercial gambling market are ongoing. If passed, the transition to a liberalized market will begin next year, with private gambling operators able to apply for licenses in early 2026 and potentially begin operations in 2027.

Proponents of the reforms hope creating a competitive domestic market will boost tax revenues and increase oversight over gambling-related harm. They believe that a more open market will encourage safer play, as operators will have to compete to provide the best consumer protections.

However, the Finnish parliamentary debates regarding horse racing and the specific institutions or persons involved have not been extensively covered in the search results. The focus has primarily been on general gambling market reforms, licensing systems, and examples from other countries.

As the bill faces several months of debates in Parliament, it remains to be seen how the Finnish gambling market will evolve in the coming years.