Finland to End Veikkaus’ Monopoly on Betting and Online Casino Games in 2027

The Finnish Parliament has approved the Government’s proposal for a new Gambling Act, marking a significant shift in the country’s gaming landscape. Under the reform, Veikkaus’ exclusive right to offer gambling services will end for betting games as well as online slot machine and casino games in the summer of 2027. The company will, however, retain its monopoly on lottery games, scratch cards, and physical slot machines and casino games.

Gambling companies will be able to apply for licenses starting 1 March 2026, and licensed operations in the new market will officially begin on 1 July 2027. Veikkaus itself must apply for a license to continue its exclusive operations and may also seek additional licenses to provide gambling services in the newly competitive market. The Government aims with the reform to prevent and reduce gambling-related harm by channeling gambling more effectively into regulated and supervised services. The new legislation also ensures that foreign competitors are subject to the same rules and conditions as Veikkaus.

“The model we have been awaiting will improve the possibilities to channel gaming into legal offerings. Veikkaus has not, for a long time, had a genuine monopoly on gambling in Finland. According to various estimates, as much as 600–900 million euros is played annually outside the official system,” said Veikkaus’ Deputy CEO Velipekka Nummikoski.

Supervision of gambling activities will move from the National Police Board to a newly established Licensing and Supervisory Authority. License holders will be required to ensure that the gambling services they provide cause as little gambling-related harm as possible. The Act allows license holders to market their services on a limited basis through various channels, including their own websites and social media accounts.

“It is important that the license-based market is sufficiently attractive for companies to apply for a license. At the same time, it is essential to ensure that offshore offerings are tackled effectively. If unlicensed gambling cannot be effectively prevented, there is a risk that achieving the channelling objective and reducing gambling-related harm will become more difficult,” Nummikoski added.

Veikkaus has confirmed that it will continue actively preparing for the new system and the transition to a license-based market. “The reform of the gambling system really took off on Veikkaus’ initiative in 2022, and we have been preparing for it for quite some time. The reform of the gambling system is a historic change and a major opportunity for Veikkaus,” Nummikoski said, emphasizing the company’s commitment to adapting to the sweeping changes.

By fLEXI tEAM