Finnish lawmakers pass landmark Gambling Act, ending Veikkaus monopoly on online betting

Finland’s Parliament has approved a new Gambling Act that will fundamentally reshape the country’s gambling framework, bringing an end to Veikkaus’ long-standing monopoly over betting and online casino games and opening the market to licensed competition.

Under the new legislation, which represents one of the most significant regulatory shifts in Finland’s gambling history, Veikkaus will lose its exclusive rights to offer betting and online casino products from summer 2027. Gambling companies will be able to begin applying for licences from 1 March 2026, with the new licensing-based market officially launching on 1 July 2027.

Veikkaus currently operates under monopoly rights across a wide range of gambling services in Finland. While the reforms will dismantle that exclusivity for betting and online casino games, the state-owned operator will retain its monopoly over lottery products, scratch cards and physical slot machines. Veikkaus will also be eligible to apply for licences and compete alongside other operators in the newly opened segments of the market.

The reform is designed to reduce gambling-related harm by directing players toward regulated and supervised services. By introducing a licensing system, the legislation aims to create a level competitive environment in which foreign operators are subject to the same rules and requirements as Veikkaus.

Velipekka Nummikoski, deputy CEO of Veikkaus, welcomed the move, highlighting its potential to strengthen the legal market. “The model we have been awaiting will improve the possibilities to channel gaming into legal offerings,” he said.

Nummikoski also pointed to the scale of gambling activity currently taking place outside the regulated system, estimating that between €600 million and €900 million is wagered annually through unlicensed channels.

As part of the reform, responsibility for supervising gambling activities will shift from the National Police Board to a newly created Licensing & Supervisory Authority. Operators granted licences under the new regime will be required to demonstrate that their products and services are designed to minimise gambling-related harm. Marketing will be permitted only through restricted avenues, such as operators’ own websites and social media platforms.

Emphasising the need to strike the right balance, Nummikoski said it is crucial that the licensing framework is attractive enough to draw operators into the regulated market, while also warning of the risks posed by illegal gambling. “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,” he said.

By fLEXI tEAM