According to the draft gambling law presented by Finland’s interior ministry, commercial gambling operators are expected to be operating in the country by 2027.
The initial plan was to eliminate Veikkaus monopoly in 2026. In 2027, the new market is expected to launch.
The bill, which is currently under preparation by the Ministry of Interior in Finland, will be introduced during the spring 2025 session of the Finnish Parliament. The bill’s aim was “to prevent and reduce gambling problems and improve the flow of the demand to the legalized gambling system”.
If approved, suppliers will have the ability to request software licenses in early 2027 and operators can apply for them from 2026. Operators and suppliers are both required to pay an annual fee to the newly created supervisory authority. However, it is unclear whether a tax rate was set.
Timeline for implementation
The Government set a timeline of three years to complete the market.
The government’s consultation process is closing on 18 August 2024.
Q1 2025- Government proposal for a draft bill that will be presented to the parliament during the 2025 spring session. Typically, this happens in February.
Open applications for Operator licences in Q1 of 2026.
Q4 2020 – The end of Veikkaus as a monopoly in sports betting and casino online games. It will split the company into two separate entities, one that runs a lottery monopoly and operates on land-based games and another competing online.
In early 2027, suppliers will be allowed to submit software license applications to offer online games on the market. The provision of licensed gambling may begin.
By 2028, operators will be limited to offering games only from software vendors who are licensed locally.
Liberalisation to be overseen by a new regulator
Currently, the National Police Board oversees gambling in Finland. This system will undergo a major overhaul. It has been assigned to the ministry of Finance that it establish a new authority which will have a wide range of regulatory powers.
The law will require the supervision authority to try to limit black-market offerings, by blocking payment and online traffic. This is to direct demand towards licensed operators.
The agency will be responsible for enforcing restrictions on marketing and advertising. A government statement states that “the quantity, scope, visibility, and frequency of advertising should be moderate, and necessary, to direct gambling demands to licensed gambling activity.
A centralised register of self-exclusion will allow players to opt out from any market offerings. The government has also proposed that non-licensed advertising overseas will be prohibited.
The statement stated that “Foreign Marketing of Gambling Games with High Risk of Harm would be Prohibited.” Marketing should not target minors, or people in a vulnerable situation.
Can Veikkaus parts be sold?
This long-awaited legislation details the breakup of Finland’s online gaming and betting monopoly Veikkaus. The company, like Sweden’s former Svenska Spel, will be divided into different business units. The interior ministry suggested that certain parts of Veikkaus could be sold.
The proposed legislation would give the state more flexibility in future decisions regarding Veikkaus ownership. “The state could give up a part of Veikkaus’ ownership if it was deemed justified by the growth of shareholder value in the future,” the statement said.
Veikkaus, however, will retain exclusivity in the areas of lottery, Toto Games (lottery-based Sports Betting), land-based slots machines, and scratchcards. Veikkaus must pay an annual exclusivity fee.
Consultation and working group of industry
The government established a group to oversee the process. It is now asking for feedback on its proposals from industry representatives and departments, such as taxation, licensing, marketing, and Veikkaus’ position in the marketplace. Comments are due by 18 August.
