The Finnish government is overhauling the gambling monopoly held by Veikkaus, as it aims to increase competition in the sector

The draft law which will convert Finland’s gambling regulation into a multi-licensing model has been sent to parliament.

The Finnish government is overhauling the gambling monopoly held by Veikkaus, as it aims to increase competition in the sector.

After being passed to parliament, the law is set to be forwarded to various sub-committees, reported Antti Koivula of Legal Gaming Attorneys at Law.

He added that parliament will “likely” vote on the draft law’s approval in the autumn this year.

“With broad political consensus on the need for reform, the vote is expected to be a formality,” Koivula added on LinkedIn.

Jaakko Soininen, managing director of Finland-based igaming technology provider Finnplay, said the draft law could be passed “before midsummer.”

The development means that the new framework is expected to come into force on January 1, 2026, ahead of an official market opening date of January 1, 2027.

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The proposal would dissolve Veikkaus' exclusive rights in areas such as online sports betting and digital slot machines.

Instead, international gambling firms would be permitted to apply for operating licences, allowing them to enter the regulated Finnish market under national laws.

Veikkaus would retain its monopoly on lottery draws, scratch cards, and physical slot machines and casinos. All gambling services would remain restricted to adults, with mandatory identity verification applied across the sector.

The Ministry of the Interior said the objective is to guide gambling into regulated channels and reduce gambling-related harm. According to Minister Mari Rantanen, the reform aims to strike a balance between harm prevention and a licensing model that encourages companies to join the legal market.

The reform comes in response to the growing share of online gambling revenue flowing out of the country. The Finnish Competition and Consumer Authority estimates that half of the money spent by players in Finland on online gambling currently goes to foreign companies.

A new licensing and supervisory authority is scheduled to begin operations in 2026. It will take over responsibilities from the current regulator, the National Police Board, starting from the beginning of 2027. The new agency will oversee licensing, marketing compliance, technical audits, and enforcement actions.

https://www.helsinkitimes.fi/finland/finland-news/domestic/26333-finland-to-open-gambling-market-and-end-veikkaus-monopoly.html