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Finland’s Path to a Regulated Gambling Market
Finland's Path to a Regulated Gambling Market
The updated draft includes a notable adjustment: commercial operators will now be permitted to offer horseracing betting, a departure from earlier proposals to keep this segment under state control. This change emerged following feedback from sector stakeholders, leading Finland's Ministry of the Interior to decide that the horseracing industry would receive support directly from the state budget rather than maintaining a monopoly.
The legislative draft, which underwent a public consultation phase in July, received mixed reactions from industry voices. While the shift to an open market is viewed positively, some stakeholders expressed concern that the proposed regulations might restrict competition. One of the most debated aspects of the draft is the ban on affiliate and social media marketing. The European Gaming and Betting Association (EGBA) warned that these limitations might hinder licensed operators from competing effectively, potentially reducing the appeal of regulated options compared to offshore alternatives.
A key consideration is “channelization”—keeping players within regulated options to promote safe play and prevent unregulated market growth. Critics argue that tight marketing restrictions could undercut the goals of channelization by making licensed platforms less visible or attractive. Finland faces the challenge of creating a framework that allows competitive operators to thrive while also ensuring regulatory standards are met, an approach that could influence broader industry practices if successful.
Veikkaus has already been adjusting its operations in response to these shifts. Following a drop in gross gaming revenue (down 21 percent in the first half of the year), Veikkaus has entered contract discussions with around 620 employees, which could lead to further restructuring. These internal changes are part of a broader effort by Veikkaus to adapt to a competitive environment, an indication of the strategic reorientation expected as Finland's market evolves.
The Finnish approach, which prioritizes regulatory oversight while opening the market, may serve as a reference for countries exploring similar changes. By maintaining control over certain aspects, such as the national lottery, and setting clear guidelines for market competition, Finland's model could become a case study for balancing competition with regulatory standards.
The planned changes offer new opportunities for international operators looking to enter a previously monopolized market. For Finnish players, a competitive market could mean increased choice within a regulated environment, fostering transparency and consumer protection.
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