Finnish Parliament to Debate New Gambling Act Today

Presentation of Policies

Prime Minister Petteri Orpo, who took office on June 20, 2023, will present the proposals. Three hours have been allocated for the opening debate to introduce these policies.

Ending Veikkaus’ Monopoly

The new Gambling Act aims to end Veikkaus’ gambling monopoly. It will introduce a licensing model, opening the market to other operators. Calls for new regulations have grown since the merger of Finland’s three largest gaming companies in 2017 under the Veikkaus banner.

Objectives of the Reform

According to the Ministry of Social Affairs and Health, “the aim of the reform is to prevent and reduce the harm resulting from gambling and to improve the channelling rate of the gambling system.”

Changes to Veikkaus Proceeds

One of the largest changes under Orpo’s government involves the channeling of Veikkaus Oy proceeds. Previously, these proceeds went to non-profit purposes.

However, amendments in early 2024 now direct them to universal government income. The Ministry of Social Affairs and Health stated: “the aim of the amendments is to eliminate the dependency which the activities financed with proceeds from gambling have on the Veikkaus profits, both in terms of finances and the level of appropriations, and to step up the prevention and reduction of harm resulting from gambling.”

Horseracing Framework

Just before Christmas, Finnish lawmakers outlined a new regulatory framework for the horseracing industry. This includes changes to funding and breeding initiatives.