Finland has submitted its proposed commercial gambling regulations to the European Commission for review as the country prepares to transition into a demonopolized market on January 1, 2025. The legislation will allow for commercial operators to enter the market and compete for market share in various iGaming verticals.
The Finnish government sent the regulations to the EC on November 1, marking a significant step towards ending the government-owned Veikkaus Oy’s monopoly on all gambling activities in Finland. The new regulations also address the issue of horseracing, which was previously exclusively offered by Veikkaus.
Under the new legislation, horseracing will now fall under the competitive licensed market for online casino and sports betting. Despite this change, the sport will still receive government support, including funding for breeding and other industry-specific initiatives.
The ministry of the interior confirmed that the launch of Finland’s commercial market will take place no later than January 1, 2026. The next steps for Finland involve awaiting feedback from the EC and EU member states on the proposal’s compliance with European law. The official government plan is to present the proposal to parliament during the spring session of 2025.
Overall, Finland’s move towards a more open and competitive gambling market represents a significant shift in the country’s approach to gambling regulation. By allowing commercial operators to enter the market and compete with Veikkaus, Finland aims to create a more diverse and dynamic gambling industry that can better serve the needs and preferences of its citizens.