Finland’s government has outlined ambitious plans to liberalize the online gaming business and implement a licensing system by January 2026, at the latest. Finland intends to find a balance by creating a hybrid system that contains both licensing and monopoly features, with a strong commitment to abolishing the existing monopoly.
Finland’s hybrid system will include online casino games and online wagering, following in the footsteps of Sweden. While the current monopoly holder, Veikkaus Oy, will retain exclusive rights to slot machines, brick-and-mortar casinos, brick-and-mortar betting, and lottery tickets, it will be split into two separate legal entities, one dedicated to monopoly services and the other operating within the licensed gambling market.
The move to open up the online gambling sector follows a recent study that revealed huge financial losses for the Finnish state as a result of gambling activities that occurred outside of the monopoly system. According to the study, these losses amount to nearly EUR 500-550 million each year, with over half of all online gambling taking place outside of the state’s monopolistic reach.
While realizing the financial ramifications, the Finnish government remains steadfast in its commitment to preventing and mitigating gambling harm. The new government programme emphasizes the importance of moderate and responsible marketing of licensed gambling services, ensuring that content, scope, visibility, and frequency are consistent with harm reduction aims.
To improve consumer protection, the government will develop a single service point where customers can ban gaming activity across all licensed sites. Additionally, the feasibility of restricting slot machine availability to monitored premises will be assessed. Consumer consent would be required for direct marketing initiatives, bolstering safeguards against potential risks.
Marketing of gaming services by any business other than Veikkaus Oy is now legally forbidden, including online marketing on foreign sites aimed at Finnish consumers. The Finnish National Police Board regularly monitors the gaming business and has taken action against rule violators. BML Group Ltd was recently barred from promoting its services in Finland, resulting in a conditional penalties of EUR 2.4 million.
Preparations for a legislative proposal are underway as the new government sets its eyes on altering the gambling scene. Though the exact timing is unknown, preliminary actions are expected to be completed this year, influencing the future course of Finland’s online gaming business.
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