Finland to launch gambling regulations earlier than expected
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Finland to implement multi-licensing gambling system by 2027
The government of Finland intends to push through the implementation of the multi-licensing system by the beginning of 2027, which includes the introduction of a new gambling regulator.
All markets, regulated and unregulated, would be under the watchful eye of a new Finnish Supervisory Agency housed in the Ministry of Finance’s administrative section.
The government’s Ministry of the Interior stated that it anticipates accepting license applications starting in 2026, before the scheduled implementation in 2027.
Finland’s government first announced plans to abolish Veikkaus Oy’s gambling monopoly in October, but details of the new operational structure were confirmed on Wednesday, July 3, through a consultation that concludes on August 18.
Veikkaus would “in practice” maintain a monopoly on games like lottery tickets and scratch cards, but other gambling enterprises might enter the market with an exclusive or gambling game license.
The delivery of software for iGaming content would be subject to a game software license, with suppliers needing to pay an annual monitoring charge to the Finnish monitoring Agency.
The consultation adds:
“The monopoly activities remaining with Veikkaus and those in the competitive market would be separated into different companies within the same group. The government would decide on the compensation payable by Veikkaus each year to the state for its exclusive licence.”
The new structure would also offer the Finnish government more input in the future ownership of Veikkaus Oy. If justified by a possible benefit to the state, the state may give up a portion of its stake in the operator.
The government stated:
“The proposed legislation would not automatically result in a reduction in state ownership.”
In terms of gambling marketing and promotion, commercial engagement with social media influencers on influencers’ accounts, as well as outdoor marketing of high-risk games, would be prohibited.
The consultation focuses on shifting gambling demand toward legal gambling and restricting marketing to minors and vulnerable people. Veikkaus Oy would maintain a monopoly on actual slot machines and casino games, with strong marketing restrictions. The Finnish Supervision Agency would obtain the ability to apply sanctions, prohibit illegal gambling activities, cancel licenses, and make test purchases. It may also deploy network blocking and payment blocking against unlicensed operators.
The plan will be presented to Parliament in spring 2025, with software licensing duties beginning in 2028.
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