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The Finland Parliament has approved the Government’s proposal for a new Gambling Act. As a result of 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.
Parliament approved the Government’s proposal for a new Gambling Act. As a result of 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.
Veikkaus will retain its exclusive right to lottery games, scratch cards, physical slot machines and casino games.
Gambling companies can apply for licenses as of 1 March 2026, and licensed gambling operations in the new license-based market will begin on 1 July 2027. Veikkaus must apply for a license for its exclusive operations and may also apply for licenses to provide gambling services in the competitive market.
The aim of the reform is to prevent and reduce gambling-related harm, for example by directing gambling more effectively to regulated and supervised gambling services. With the new law, foreign competitors will be brought under 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.
The supervision of gambling activities will be transferred from the National Police Board to a new Licensing and Supervisory Authority. License holders must ensure that the gambling services they provide cause as little gambling-related harm as possible. Under the Act, license holders may market their gambling services on a limited basis across different channels. Marketing is also permitted on the company’s own website 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 said.
Veikkaus will continue to actively prepare for the new gambling system and the 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 added.
The post Finland Parliament Approves Govt’s Proposal for New Gambling Act appeared first on European Gaming Industry News.
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