{"id":7478,"date":"2024-07-04T06:22:05","date_gmt":"2024-07-04T06:22:05","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/07\/04\/finland-aims-for-2027-launch-of-new-gambling-licensing-system\/"},"modified":"2024-07-04T06:22:05","modified_gmt":"2024-07-04T06:22:05","slug":"finland-aims-for-2027-launch-of-new-gambling-licensing-system","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/07\/04\/finland-aims-for-2027-launch-of-new-gambling-licensing-system\/","title":{"rendered":"Finland Aims for 2027 Launch of New Gambling Licensing System"},"content":{"rendered":"
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The European gaming industry greeted the Finnish monopoly Veikkaus with warm arms in February, as it supported an open licensing<\/a> scheme meant to counteract illicit market activities. But worries about a suggested cooling-off period surfaced, echoing the difficulties encountered by recent entrants into the Dutch market.<\/p>\n

A law to create an open gambling license system was recently proposed by the Finnish government, with an initial release date of January 1, 2027. Veikkaus\u2019s support for this system is in keeping with the reality of the nation, where the percentage of the online gaming industry has decreased to 40%. The Finnish government promised to alleviate problem gambling and raise low channelization rates by opening up the monopoly-based industry in June 2023.<\/p>\n

A team led by the Ministry of Interior, guided by a political steering group of state secretaries, drafted the legislation. The bill proposes that Veikkaus\u2019s exclusive and competitive activities be managed by two distinct companies under the group. This structure would facilitate any potential future sale of Finland\u2019s stake, according to the Ministry of Interior.<\/p>\n

Veikkaus seeks to maintain its monopoly over brick-and-mortar casinos, lotteries, physical slot machines, pool, and totalisator betting. Conversely, private licensed operators would be permitted to offer iGaming and sports betting<\/a>. Only software suppliers would be eligible for business-to-business licenses.<\/p>\n

The draft law, spanning 417 pages, includes Know Your Customer (KYC) provisions detailing player registration and identity verification processes. It also outlines restrictions on advertising by licensed operators, prohibiting commercial collaborations with social media influencers. The minimum gambling age is set at 18, and a centralized self-exclusion system will be established.<\/p>\n

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