Finland’s government has approved a gambling bill, putting the country on the pathway to reform its gambling market and open it up for commercially licensed operators.
The bill achieved a bipartisan 158-9 vote in favour of its proposals in Finland’s Parliament and is now on course for implementation. Just the President’s signature is required for the bill to become law.
Wheels in motion
In July 2027, the commercial market will officially open. Sports betting and online casino licences will be issued in the meantime from March next year, but Lotto, Eurojackpot and physical slot machines will remain under the state-owned Veikkaus monopoly.
Finland’s National Police Board will make the licensing decisions before regulatory responsibilities are handed to the Licensing and Supervision Agency in June 2026.
Meanwhile, the process for B2B licences will begin in July 2027, with a licence becoming a requirement for the market by July the following year.
The passing of the bill in Parliament means there’s one less regulatory hurdle in the way of commercial operators gaining access to the market.
Ironing out finer details
Whilst the decision marks a major step forward for opening the Finnish market, there are still elements of the framework that require fine-tuning and clarification.
Hippos ATG Chief Compliance Officer, Antti Koivula, revealed to iGaming Expert that several key details in the framework are still pending.
He emphasised that this will come when the secondary legislation is formalised, which will see matters such as game characteristics (e.g. autoplay, bonus buys), maximum stake levels, and game speed being determined.
It will also provide clarity on some of the most critical technical regulations that are still outstanding.
Veikkaus has also called for authorities to make sure the market is efficiently regulated to stop illegal operators and the black market from thriving.
Velipekka Nummikoski, Deputy CEO of Veikkaus, stated: “It is important that the license market is attractive enough for companies to apply for a license. At the same time, it is also necessary to ensure that unauthorised supply is tackled effectively enough.
“If unauthorised gambling supply cannot be effectively prevented, there is a risk that the realisation of the channelling goal and the reduction of gambling harm will be made more difficult.”
Going through changes
Finland’s gambling market will look completely different once the licensed market opens up, moving away from the monopoly of Veikkaus, whose own future is currently in flux.
Recently, Veikkaus held talks with 75 employees across three different functions. With competition coming into the market, the operator will discontinue 26 existing roles, while 22 new positions will be created and 20 employment relationships will be changed.
“Our strategic direction requires changes from us, which have now been implemented through these negotiations,” commented Reija Laaksonen, EVP, People, Brand & Communications at Veikkaus.
“These decisions are always difficult from a human perspective, but they are necessary for Veikkaus’ future competitiveness.”
In addition, Finland’s Director General of Ownership Steering, Maija Strandberg, stated last month that Veikkaus could be publicly listed in 2027, putting the future of the state-owned operator in the balance.
