Finland abolishes state monopoly on gambling: market opening planned from 2027
The Finnish government has announced in a press release that it will allow the state gambling monopoly to expire at the end of 2026. Instead, it will introduce a licensing system, opening up some forms of gambling to competition.
Licenses for Sports Betting and Online Casinos
According to the press release from the Finnish Ministry of the Interior [Link in English], the market will initially be opened up for sports betting and online casinos. Providers will have the opportunity to apply for a license and legally offer gambling. So far, the Finnish gambling company Veikkaus has held a monopoly on all gambling in Finland.
However, this monopoly will only be partially abolished. The Finnish Ministry of the Interior explains that Veikkaus will continue to hold the monopoly on lottery games, such as scratch cards. Stationary casino games and physical slot machines will also continue to be exclusively offered by Veikkaus.
A preliminary timeline for the partial abolition of the gambling monopoly was also presented in the press release. The gambling act will be submitted to the Finnish parliament in the spring of 2025. Gambling providers will then be able to submit applications for a Finnish license from 2025 onwards.
The Veikkaus monopoly will expire at the end of 2026. Therefore, licensed gambling in Finland is likely to begin in 2027.
Gambling outside the Monopoly System
The Finnish Ministry of the Interior justifies the planned steps with the failure of the current monopoly. In the press release, it states:
Currently, Veikkaus Oy holds the monopoly on providing gambling in Finland. However, a significant portion of online gambling takes place outside the monopoly system. Companies outside the system offer online gambling that is not covered by national regulation or supervision by the authorities.– Finnish Ministry of the Interior, Valtioneuvosto
The Finnish government has already pointed out last year that the current gambling policy is not successful. Furthermore, gambling addiction in Finland has increased significantly in recent years.
Moreover, more and more players have been participating in gambling on unlicensed sites. According to a government study [Link in English], approximately 5 to 6 percent of the Finnish population participates in unlicensed gambling.
Introduction of a Supervisory Authority Planned
As part of the market opening, the Finnish government plans to introduce a supervisory authority for the gambling market. This will have extensive powers and will be attached to the administrative unit of the Finnish Ministry of Finance.
The new authority will be responsible for punishing legal violations with sanctions. It can also revoke licenses and ban the marketing of gambling if necessary. As part of its work, it will also be authorized to conduct test purchases.
The newly introduced supervisory authority will also monitor providers to ensure compliance with applicable laws. Preventing money laundering and terrorist financing also falls within its scope of duties.
Illegal Gambling May Be Prevented by New Authority Through Network Blocks and Payment Blockades
The government aims to direct players towards licensed gambling with this step.
Planned Measures for Player Protection
The Finnish Ministry of the Interior presents some planned measures for player protection in its statement. A review of the identity of players is to be firmly anchored in the Finnish Gambling Act. In this context, an age limit that must be adhered to during identification is to be established. The Finnish government has already laid the first foundation for this last year: Since 2024, scratch cards in Finland can only be purchased after an ID check.
Furthermore, a self-exclusion register is to be introduced. Players could register themselves and block themselves from gambling with all licensed providers.
The Ministry of the Interior also plans to establish rules for marketing and sponsoring of gambling and to list prohibited marketing tools. Marketing will be allowed on certain channels but will also be subject to regulations. For example, a commercial collaboration between gambling providers and influencers is not permitted.
How Will the End of the Monopoly Affect the Finnish Gambling Market?
The Finnish government is pursuing a planned tightening of gambling policy with the upcoming market opening. What may initially sound contradictory has already proven itself in other countries.
After all, not only the abolition of the monopoly, but also the establishment of a supervisory authority is planned. With the necessary resources, this will be able to monitor the Finnish gambling market and take necessary measures. The market opening and the planned licensing system could thus contribute to better player protection.
The press release from the Finnish Ministry of the Interior mentions that the initial opening of the gambling market will focus on sports betting and online casinos, allowing licensed providers to legally offer these forms of gambling. Following the expiration of the Veikkaus monopoly in 2026, news reports may discuss the impact of the new licensing system on the Finnish gambling market and the effectiveness of the introduced supervisory authority in preventing illegal gambling activities.
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