Finland Set to Introduce Multi-Licensing System for Online Gambling by 2026

The European Gambling and Betting Association (EGBA) has hailed the recent announcement by Finland’s interior ministry regarding the introduction of a comprehensive legislative project. This move aims to establish a licensed structure for online gambling by the year 2026. With Finland currently operating under an exclusive monopoly system, this initiative is being celebrated as a crucial milestone in promoting fair competition and bolstering player protection. EGBA has expressed its full support for the Finnish government’s objectives, emphasizing the potential benefits of a multi-licensing system, such as increased tax revenues and enhanced regulatory oversight.

In light of the overwhelmingly positive response to regulated gambling in Finland, the legislative project will address various critical aspects within the gambling industry. These include delineating the gambling activities to be encompassed within the new system, determining license fees and taxation, implementing safer gambling protocols, mitigating gambling-related harm, and regulating advertising practices. The ambitious project, scheduled to continue until December 2025, aims to present a comprehensive legislative proposal by the spring of 2025.

As part of the impending reforms, the state-owned operator Veikkaus is expected to relinquish its monopoly on online casino games and online betting. However, it will maintain its exclusive position in lottery operations and retail slot machines. Despite concerns about potential job losses, Veikkaus has extended its support to the proposed changes, highlighting the significance of establishing a more effective and regulated gambling landscape in Finland.