Finnish Horse Racing Bets to Be Placed Under the Commercial Market

As Finland inches closer to the launch of a commercial gaming market, lawmakers are considering making betting on horse races a part of the competitive sector. The future of horseracing bets was uncertain for a while as some considered leaving the vertical under the existing monopoly.

A Victory for the Horse Racing Sector

Finland, for context, hopes to end Veikkaus’ monopoly in 2026, heralding a new era for gambling in the country. This will allow foreign companies to compete with the Veikkaus, resulting in a richer market.

As mentioned, the future of betting on horse races was blurry. Such bets, for context, were previously exclusively offered by the monopoly. In the end, lawmakers decided to place the vertical under the commercial gambling sector.

Despite that, officials promised to still provide support to horse racing in the future. The Ministry of the Interior promised to allocate a part of the state budget to the development of the sector, ensuring its long-term success. This will include funding to Hippos ry, a local horse breeding association.

The latest decision represents a significant victory for the horse racing sector, which had lobbied to move to the licensee system. Industry stakeholders were convinced that this would be a best-case scenario since it would proliferate bets on races and generate more benefits for the industry.

The Rules Are Shaping Up to Be Favorable for Commercial Operators

The status of betting on horse races and the official launch date of the licensed market were the final decisions the government had to make. In its latest statement, the Ministry of the Interior confirmed that it aims to launch the new system by January 1, 2026.

The ministry remains open to hearing feedback. Its final draft is set to be presented to the parliament in the spring session next year. Then, lawmakers hope to get the reformed gambling law greenlit by the end of June 2025.

In any case, the latest drafts of the potential Finnish gambling law paint a picture that seems to be much more welcoming to commercial operators. While the final draft is yet to be published, the trends demonstrate a gradual warming up toward the commercial sector.

This has been reflected in eased-up advertising restrictions and pari-mutuel betting rules. Additional revisions are also possible.