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Finland’s Path to a Regulated Gambling Market

Finland has recently submitted its final draft of legislation to the European Commission to replace its state-controlled gambling monopoly with a competitive, regulated market by January 1, 2026. Initially expected to launch in 2027, the target date was moved up after the government completed the draft earlier than planned. This shift signals Finland's intention to align with the broader European trend toward open, competitive gambling markets, creating significant changes within the industry.
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Christian McDeen | Caesar of Lands of Betting and Live Casino

Updated: Nov 5, 2024

Finland's Path to a Regulated Gambling Market

Finland recently advanced its plans to transition from a state-controlled gambling model to a competitive, regulated market by submitting its draft legislation to the European Commission. This proposal, which the government had originally intended to implement in 2027, has now been fast-tracked with an anticipated launch on January 1, 2026. The decision reflects Finland's ongoing efforts to bring its gambling industry in line with broader European practices favoring competitive frameworks.

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 European Commission and EU member states will review the draft to assess its alignment with EU regulations. If it proceeds smoothly, the Finnish government plans to present a final version to parliament during the spring 2025 legislative session.

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.

regulationThe shift to an open market model will significantly impact Finland's state-owned gambling provider, Veikkaus. Plans are underway to split Veikkaus into two separate entities: one for its commercial offerings, which will join the competitive market, and another that will maintain control over the national lottery. Some policymakers even favor selling off Veikkaus's commercial segment, a move that would open additional avenues for private sector involvement in the market.

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.

Finland's path to an open market signals a notable shift in Nordic gambling policy, particularly as Norway remains one of the few European countries still maintaining a state monopoly on gambling. However, similar discussions are taking place in Norway, where the conservative opposition party, Høyre, has signaled interest in pushing for a competitive model, reflecting Finland's approach. This trend suggests that Finland's move may encourage further liberalization in other Nordic countries, aligning with a wider European preference for regulated competition.

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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