The Finnish government is discussing the adoption of a new gambling law
The main change involves the dismantling of Veikkaus's monopoly on gambling in the country. The proposed bill suggests a shift to a licensing model that would allow other operators to enter the market freely.
Since the merger of Finland's largest gaming companies—Slot Machine Association (RAY), Veikkaus, and Fintoto—into the single brand Veikkaus in 2017, there have been attempts to reconsider the monopolistic system. The Finnish Ministry of Social Affairs and Health notes that the reform aims to mitigate the negative consequences of gambling and create a more transparent structure.
The new licensing system is expected to come into effect in 2026, covering online gambling platforms and sports betting. Another significant change is the redistribution of Veikkaus's revenues. Previously allocated to non-profit projects, these funds will now be redirected to the general state budget, following legislative amendments passed in early 2024. This shift is intended to eliminate the dependency of funded programs on the company's profits and enhance measures to combat gambling addiction.
Additionally, Finnish lawmakers have announced new regulations for the horse racing industry, including reforms in funding and support for breeding. All these measures reflect Finland's commitment to establishing a more competitive and socially responsible gaming system.
It is worth noting that the Finnish gambling operator Veikkaus has announced a major restructuring initiative.
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