Finland to Open Gambling Market to Competition by 2026
Finland is set to reform its gambling market, breaking its state monopoly on online gaming and sports betting by 2026. This shift allows licensed operators to compete alongside state-owned Veikkaus, aiming to enhance player options and improve market dynamics.
Major Shift in Finland’s Gambling Landscape
Finland’s decision to abandon its monopoly and open the gambling sector to competition marks a significant change.
By January 1, 2026, licensed private companies will be able to operate in online gaming and sports betting, introducing new options for Finnish players and creating a more competitive landscape.
The Finnish government believes this move will encourage better player choice and stimulate growth in the gambling sector.
Clarity on Horse Racing Betting Support
One area of potential confusion has been the future of horse racing betting, previously managed solely by Veikkaus.
The Ministry of the Interior has clarified that state support for horse racing will remain unchanged, ensuring continued funding for the breeding and development of the industry.
According to the Ministry, “In the future, through the state budget, support will be allocated to breeding, horse industry operator-specific advice and the development of the competition system.”
Timeline and Regulatory Approval
The Finnish government has committed to a firm launch date for the new open market system, set for January 1, 2026.
In their words, “Finland’s gambling system will be reformed and opened to competition with a license model no later than 1 January 2026.”
Additionally, Finland submitted the proposed regulatory changes to the European Commission, seeking input to ensure alignment with EU standards on free movement and consistency with EU legislation.
Parliamentary Review and Expected Approval
The final proposal for the reformed gambling legislation is expected to be presented to Finland’s parliament in spring 2025.
Initially slated for a 2027 launch, recent statements suggest the law could be approved by midsummer 2025.
Kuismanen has indicated confidence in an early approval, saying, “We will likely have the law approved [by parliament] before midsummer (June 2025).”
Towards a Competitive Future
With the impending opening of Finland’s gambling market, stakeholders are preparing for a new era.
The reformation seeks to not only boost competition but also provide a more structured and transparent environment for all involved.
