The Finnish Parliament is set to hold a debate today, 12 February 2025, to discuss upcoming proposals and policies, including the much-anticipated new Gambling Act. The session will feature a presentation by Prime Minister Petteri Orpo, who took office on 20 June 2023. A total of three hours has been allocated for the initial debate, where the government will introduce key aspects of its policy agenda.
One of the most significant changes under the proposed Gambling Act is the termination of Veikkaus’ monopoly on gambling in Finland. The reform will introduce a licensing model that will open the market to other operators, creating a more competitive landscape.
Since the merger of Finland’s three largest gaming companies—the Slot Machine Association (RAY), Veikkaus, and Fintoto—on 1 January 2017, there have been calls for regulatory changes to address concerns about the monopolistic nature of Veikkaus. The proposed legislation aims to address these concerns by fostering competition while implementing safeguards to mitigate gambling-related harm.
According to the Ministry of Social Affairs and Health, the primary objective of the reform is to prevent and reduce gambling-related harm while improving the channelling rate of gambling activities into regulated systems.
The new licensing system is expected to be introduced as early as 2026 and will apply to both online casinos and sports betting platforms. This shift is anticipated to attract international operators to the Finnish market, providing consumers with more options while ensuring strict regulatory oversight.
Another major change under Orpo’s government concerns how the proceeds from Veikkaus Oy are allocated. Traditionally, the funds generated from gambling were directed towards non-profit purposes as outlined in the Lotteries Act. However, amendments introduced in early 2024 now channel these proceeds into universal government income, allowing the funds to be used for any expenditure within the government’s budget.
The Ministry of Social Affairs and Health stated that the goal of these amendments is to eliminate dependency on Veikkaus profits for financing specific activities and to strengthen efforts to prevent and reduce gambling-related harm.
In addition to the Gambling Act, Finnish lawmakers recently introduced a new regulatory framework for the horseracing industry. This framework includes changes to funding mechanisms and breeding initiatives, further signaling the government’s broader efforts to modernize the country’s gambling and betting regulations.
The upcoming debate marks a significant step toward overhauling Finland’s gambling landscape, with the potential to reshape the industry while prioritizing responsible gambling practices and consumer protection.