Finland’s government is planning to introduce a new gambling regulator as part of efforts to push the country’s multi-licensing system live by the start of 2027.
Finland’s government revealed initial plans to end Veikkaus Oy’s monopoly on gambling in October, but details of the new operational structure were outlined on Wednesday, July 3, by way of a consultation, which ends on August 18.
A new Finnish Supervisory Agency operating in the administrative branch of the Ministry of Finance would monitor the regulated and unregulated markets.
The government’s Ministry of the Interior said that ahead of the planned go-live in 2027, it is expecting to welcome licence applications from the beginning of 2026.
Veikkaus would “in practice” retain a monopoly in games such as lottery games and scratch cards, but other gambling companies could enter the market with an exclusive licence or a gambling game licence.
The supply of the software in igaming content would be subject to a game software licence, with suppliers being required to pay an annual supervision fee to the Finnish Supervision Agency.
“The monopoly activities remaining with Veikkaus and those in the competitive market would be separated into different companies within the same group,” the consultation adds. “The government would decide on the compensation payable by Veikkaus each year to the state for its exclusive licence.”
The new structure would also give the Finnish state greater say in the future ownership of Veikkaus Oy. If justified by a potential boost to the state, the state could give up part of its share in the operator.
“The proposed legislation would not automatically result in a reduction in state ownership,” the government insisted.
As regards the marketing and promotion of gambling, commercial collaboration with social media influencers on influencers’ accounts would be outlawed, as would outdoor marketing of games “involving a high risk of harm.”
Legal marketing “should be moderate in terms of volume, scope, visibility and repetitiveness and also necessary to steer gambling game demand towards licensed gambling,” the consultation says.
Physical slot machines and casino games remaining a monopoly of Veikkaus Oy would not be able to be marketed “by any means” in the potential new structure, and it is proposed that marketing must not be targeted at minors or “otherwise vulnerable persons.”
The Finnish Supervision Agency would be able to impose sanctions, administrative fines and financial penalties for unlawful activities.
It would be empowered to “prohibit the running and marketing of gambling games, to rescind licences and to reinforce certain official decisions with a penalty payment” as part of the potential new structure.
“In the performance of its supervisory duties, the agency would be entitled to make test purchases.”
The agency would be able to use network barring and payment blocking to crack down on unlicensed gambling operators and steer players towards the illegal market.
“The aim here, as laid out in the government programme, is to prevent and reduce gambling-related harm and to increase the channelling of demand to a regulated gambling system,” the government said.
The government proposal, it is planned, will be passed to Parliament in the spring session of 2025.
The obligation to offer game software of no one other than holders of the relevant licence would only apply as from the beginning of 2028.
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