Finland Moves Toward Gambling Market Liberalization with New Legislation

Finland is on the cusp of a milestone shift in its gambling landscape, as the government has formally introduced a bill to Parliament that would dismantle Veikkaus’ long-standing monopoly over online gambling by the end of 2026. If implemented, the proposed legislation will open the Finnish market to international gambling companies under a new licensing system.

The Legislation Should Curb Black-Market Gambling

The proposed reforms end Veikkaus’ monopoly on online gambling, clearing the way for foreign gaming operators to provide their services legally in Finland as long as they adhere to local regulations and pay taxes. However, Veikkaus will remain the monopoly holder when it comes to lotteries, scratch cards, slot machines, and casino gaming,  ensuring state control over some of the most high-risk sectors.

Under the new framework, private gambling operators can apply for licenses in early 2026 and potentially begin operations in 2027. A newly established gambling regulatory authority will oversee the industry, ensuring compliance with Finnish law. Proponents of the reforms hope creating a competitive domestic market will boost tax revenues and increase oversight over gambling-related harm.

According to the Finnish Competition and Consumer Authority, half of the nation’s gambling revenues end up in the pockets of foreign operators. A well-regulated market with high channelization rates should not only bolster revenue streams but encourage safer play, preventing money from flowing into the hands of offshore operators with minimal consumer protections.

Licensed Operators Must Follow Strict Guidelines

While Finland is opening its doors to foreign operators, the government has envisioned stringent advertising regulations to offset potential gambling harm. These include banning social media influencers promoting gambling, restricting outdoor advertising for online slots and casino games, and prohibiting gambling ads near schools. However, the legislation will allow for sports team sponsorships.

The bill must now go through Parliament, where it will face several months of debates, especially as institutions like the Institute for Health and Welfare (THL) argue that opening the market and boosting advertising may increase problem gambling levels. If passed, the transition to a liberalized market will begin next year with the creation of a new gambling authority, followed by the start of the licensing procedure.

Horse racing remains one of the most contentious issues surrounding the new legislation. Lawmakers previously suggested including horse race betting in the commercial gambling market, allowing international operators to have a stake in the sector. Such debates underline Finland’s ongoing efforts to balance economic benefits with consumer protection as the nation prepares to enter a new era of gambling.