Market Opens to Competition in Mid-2027
Finland’s Parliament has approved the Government’s proposal for a new Gambling Act, marking a historic shift in the country’s gambling regulation. The reform will end Veikkaus’ exclusive rights to betting games, online slots, and online casino games starting July 1, 2027.
Veikkaus will maintain its exclusive rights to lottery games, scratch cards, and land-based slot machines and casino games. The state-owned operator must apply for a license to continue its exclusive operations and may also apply for licenses to compete in the newly opened market segments.
The licensing system will launch on March 1, 2026, when gambling companies can begin submitting applications. Licensed operations in the competitive market will commence on July 1, 2027.
Reform Targets Channelization and Player Protection
The legislation aims to reduce gambling-related harm by directing players to regulated and supervised gambling services. The reform brings foreign operators currently serving Finnish customers under the same regulatory framework as Veikkaus.
“The model we have been awaiting will improve the possibilities to channel gaming into legal offerings. Veikkaus has not, for a long time, had a genuine monopoly on gambling in Finland. According to various estimates, as much as 600–900 million euros is played annually outside the official system,” said Velipekka Nummikoski, Deputy CEO of Veikkaus.
New Regulatory Authority to Oversee Licensed Market
Gambling supervision will transfer from the National Police Board to a newly established Licensing and Supervisory Authority. License holders must ensure their gambling services minimize harm, and the Act permits limited marketing across various channels, including operators’ own websites and social media accounts.
Nummikoski highlighted the importance of creating an attractive licensing framework while maintaining effective enforcement against unlicensed operators.
“It is important that the license-based market is sufficiently attractive for companies to apply for a license. At the same time, it is essential to ensure that offshore offerings are tackled effectively. If unlicensed gambling cannot be effectively prevented, there is a risk that achieving the channelling objective and reducing gambling-related harm will become more difficult,” Nummikoski said.
Veikkaus Prepares for Market Transformation
Veikkaus has been actively preparing for the transition to a multi-license system since initiating reform discussions in 2022.
“The reform of the gambling system really took off on Veikkaus’ initiative in 2022, and we have been preparing for it for quite some time. The reform of the gambling system is a historic change and a major opportunity for Veikkaus,” Nummikoski concluded.
Source: Veikkaus Group
