Finland is gearing up to break up its decades-old gambling monopoly and opening doors for international gaming firms to officially enter the market. The Finnish government has submitted a reform bill to Parliament that, if passed, will dismantle the state-run monopoly of Veikkaus by the end of 2026 and introduce a competitive licensing model.
Under the proposed legislation, foreign gaming companies will be able to apply for licenses to operate in Finland while complying with the local laws, including taxation requirements.
This new requirement will curb the massive outflows of gambling revenue to foreign operators which currently accounts for half of all online gambling expenditures by Finnish Citizens, according to the Finnish Competition and Consumer Authority.
Veikkaus, however, will retain exclusive control over lottery games, scratch cards, slot machines, and casino gaming operations. The reform will ensure that while the monopoly is partially dismantled, certain high-stakes segments remain under state oversight.
To mitigate the risks associated with increased competition, Finland plans to introduce strict advertising regulations. Social media influencers will be prohibited from promoting gambling products.
However, sponsorship deals, including displaying gaming company logos on sponsored channels, will be permitted. Moreover, outdoor advertising for highly addictive games, including online slots and casino games, will be banned around schools and public spaces frequented by children.
Additionally, new safeguards will be implemented to protect players. These include daily and monthly transfer limits on player accounts and provisions for temporary player bans to curb excessive gambling. However, no cap will be placed on potential player losses, a decision that has sparked concern among organizations advocating for gambling harm reduction.
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