Alexander Stubb, Finland’s President, has formally approved the overhaul of the country’s gambling legislation, clearing the way for a restructured Finnish betting and gaming market which will launch on July 1, 2027.
President Approves Parliament’s New Gambling Legislation
The new legislation will see the monopoly held by Veikkaus Oy, the state-owned betting, gaming, and lotteries operator, being replaced by a more decentralized and open system. The idea has been floating in Finland’s political and betting circles for quite a while now, but it was only last month when the Finnish government approved the new gambling framework.
Interestingly, Veikkaus Oy was one of the supporters of the new legislation, despite the new law meaning its monopoly would end. The state-owned operator explained that it does so because Finland has had a long-standing problem with the channelization of gambling traffic, as well as competition from foreign companies.
As mentioned, the revamped market will launch on July 1 next year. Companies that want to enter Finland’s multi-license market will be able to submit applications to the National Police Board from March 1, 2026. It will continue to act as the primary regulator of Finnish gambling until July 1, 2027.
From that point, responsibility for regulation and licensing will transfer to the Finnish Supervisory Agency. B2B requirements will also be strengthened, with license holders permitted to use only gambling software supplied by companies holding a Finnish gambling software license from 1 July 2028. Licenses will cover betting, online casino and slots, and online bingo. However, Veikkaus will maintain exclusive rights to land-based casinos and slot machines, as well as lottery products and scratch cards.
Some Questions and Doubts Still Remain
Some parliamentary members had called for tougher marketing restrictions, including tobacco-style health warnings on gambling products. The reasoning behind this was twofold – first, they want to see more protection for players. Second, some have questioned whether the arrival of new companies on the market would mean a diminished tax revenue for the government. However, these proposals, which were put forward by members of the parliamentary Constitutional Committee, were rejected by the Administrative Committee.
Meanwhile, industry stakeholders remain concerned about the lack of clarity in certain marketing provisions within the legislation, as well as the strict limitations placed on affiliate marketing. In particular, there is uncertainty around the definition of “moderate marketing” and what activities fall within this category.
However, one certain thing is that all marketing must display the legal gambling age and direct consumers to problem gambling prevention and treatment resources. Advertising will also be allowed on television, radio, and in print media, as well as on operators’ social media channels.
What seems clear is that there will be more issues to be ironed out as Finland transitions to a more open gambling scene.