Finland Changes Gambling Legislation
Changes to how the gambling industry is licensed and regulated are coming in Finland. The country has submitted draft legislation to the European Commission for review. Plans for this to be finalized are for 2026 at the latest.
Finland wants to overhaul its rules around the gambling industry. © Hietaparta, Pixabay
Ministry of the Interior Pushes for Monopoly Change
Finland has sent draft legislation that would overhaul the gambling industry to the European Commission, with a licensing system set to be introduced among the changes.
The country plans to bring in the new licensing system by the year 2026 at the latest.
Finland has a monopoly system for the gambling industry at the present time, with the state-owned Veikkaus in control of the sector.
But the Ministry of the Interior wants to open up the industry to commercial operators.
Veikkaus is set to keep hold of the rights to lottery, betting games and land-based casinos but horse racing betting will now be opened to firms who apply for a licence.
The European Commission will review the planned changes to gambling legislation in Finland and assess how it matches up with other nations on the continent.
New Gambling System
Finland’s Ministry of the Interior released a statement explaining why the changes to the gambling sector are being made and what they will mean for the industry.
It said: “The Government’s economic policy ministerial committee outlined on Friday, November 1, that in the new gambling system according to the Government programme, horse gambling will also move to the competitive licence market like other betting”
“As a result of the solution, the allocations for the promotion of horse breeding and horse sports will no longer be allocated to competitive activities. In the future, through the state budget, support will be allocated to breeding, operator-specific advice in the horse industry and the development of the competition system, as well as to Hippos ry, which is responsible for the industry’s general development work, anti-doping control and advice.”
The draft of the new gambling laws in Finland are set to go to the country’s Parliament in the early months of 2025.
Marketing Restrictions Lifted
Among the key changes to Finland’s gambling regulations will be changes to what marketing is allowed for the industry.Offline brand marketing will now be allowed, and the ban on bonuses will also be lifted.
The regulatory frameworks that are in place in neighbouring nations Denmark and Sweden appear to have inspired the suggestions being made in Finland.
Gaming law experts have noted how the latest draft regulations appear to be a lot more business-friendly than the initial proposals, which were revealed a few months ago.
