Regulated gambling market planned for Finland in 2027
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6 Jul 2024 •
Reading time: 2 minutes Finland is about to open its online gambling market. The bill for a new gambling law has been submitted for consultation. Veikkaus the state-owned company that until now had a monopoly on online gambling will have to compete with other operators from the beginning of 2027.
Timeline for the introduction of the new gambling law in Finland:
- Early 2026: Applications for permits can be submitted.
- 2027: First online casinos can offer their services.
- End of 2026: Veikkaus retains monopoly on physical slot machines and lotteries.
From monopoly to controlled market
The aim of the new legislation is to increase the channeling to the legal supply and reduce gambling-related problems like addiction. Gambling companies can apply for a license from the Finnish Supervisory Authority. Permit holders must adhere to strict rules including rules such as registration, identification marketing and advertising.
Lotteries remain at Veikkaus, online casinos are licensed
Lotteries, totes, totalizator bets and physical slot machines remain under the exclusive license of Veikkaus. Online casinos and other online games of chance fall under the new licensing system.
Stricter rules for marketing and advertising
Gambling companies are allowed to advertise in different channels. But there are restrictions. For example commercial collaboration with social media influencers is not permitted and high-risk games of chance may not be promoted.
New regulator for the gambling market
With the new gambling law there will also be a new regulating ministry the Finnish Supervisory Authority. This body will have extensive powers, such as imposing fines. Responsibility also includes revoking licenses and banning certain gambling advertisements.