Finland Plans to Open Gambling Market by ending the Monopoly

Finland Set to Introduce Licensing for Online Casino and Sports Betting

Finland’s government announces its intention to liberalize the country’s gambling industry and put an end to the gambling monopoly held by state operator Veikkaus. The move aims to establish a licensed gambling market by 2026 at the latest.

Government’s Reform Agenda and Measures

The Finnish government confirms its commitment to creating a licensed gambling market, introducing licensing for online casino gaming and sports betting. As part of the reform, Veikkaus will be divided into separate companies, undoing the merger with Raha-automaattiyhdistys and Fintoto from 2017.

Protecting Against Money Laundering and Ensuring Sports Integrity

To ensure the integrity of the market, the government plans to implement measures against money laundering and breaches of sports integrity. Additionally, a national gambling self-exclusion system will be established. The government also intends to regulate advertising, requiring it to be moderate, responsible, and limited in its content, scope, visibility, and frequency.

Aims of the Reforms: Reducing Harm and Increasing Channelisation

The government aims to reduce financial and social harm associated with gambling by improving the rate of channeling players to legal operators. The existing monopoly system, which has resulted in only 50% of the market being directed to Veikkaus, is considered unsuccessful. The reforms will undergo careful examination of their social effects, particularly on the prevalence of gambling problems.

Positive Reception and Industry Outlook

Mika Kuismanen, CEO of Rahapeliala (Finnish online gambling trade association), expresses satisfaction with the government’s recognition of the need for a renewed gambling system that aligns with modern technology. The reform is seen as promoting fair competition and protecting the interests of society and players. Veikkaus also welcomes the government study recommending the end of the current regime, emphasizing the importance of a faster transition to a licensing system.