Finland is set to open its gaming market to commercial operators by 2027, ending Veikkaus' monopoly and introducing new regulations.
Finland's Ministry of the Interior plans to open the gaming market to commercial operators by 2027. The move aims to end Veikkaus' monopoly and introduce a regulated system to reduce gambling disadvantages.
Timeline for Implementation
Finland's Ministry of the Interior has unveiled plans to open the gaming market to commercial operators by early 2027. This significant change comes from a draft gambling bill presented to the Finnish parliament. The government initially aimed to end Veikkaus' monopoly by 2026, and while that deadline will be met, the market will not officially launch until 2027. Operators will be able to apply for licenses starting next year.
The Ministry plans to present the bill during the Finnish parliament's Spring session in 2025, with supplier licenses becoming available in early 2027. Operators will only be able to offer games from suppliers certified by a new regulatory authority starting in 2028.
Objectives and Regulatory Measures
The Ministry stated that the bill and subsequent legislation aim to "prevent and reduce gambling disadvantages and to improve the channeling of demand into the legally regulated gambling system." Both operator and supplier licensees will be required to pay annual supervision fees to the new regulatory authority, although a specific tax rate still needs to be set.
Critical Dates for Implementation:
New Regulator and Market Oversight
A new gambling regulator will be established under the Ministry of Finance's remit, replacing the current oversight by the National Police Board. The new Licensing and Control Agency will have the authority to impose administrative sanctions on illegal activities, restrict black market offerings by blocking online and payment traffic, and implement a centralized self-exclusion register for players.
The regulator will also oversee marketing and advertising restrictions to ensure they are moderate and necessary to direct gambling demand to licensed activities. The government statement emphasized that advertising should not target minors or vulnerable individuals, and foreign marketing of high-risk gambling games will be prohibited.
Veikkaus' Future and Market Position
The new legislation will detail the end of Veikkaus' online betting and gaming monopoly, similar to Sweden's former monopoly operator Svenska Spel. The state may consider selling parts of Veikkaus to enhance the development of the state's shareholder value. However, Veikkaus will maintain exclusivity over lottery, toto games, land-based slot machines, and scratch cards, paying an annual fee for these rights.
Industry Consultation and Feedback
The government has established a working group and is requesting feedback from the industry and government departments on its proposals, including taxation, licensing procedures, marketing, and Veikkaus' position in the market. The window for comments closes on August 18, 2024.
Finland's move to liberalize its gaming market by 2027 marks a significant shift in its gambling landscape. With new regulations and the end of Veikkaus' monopoly, operators and players can look forward to a more competitive and regulated environment.
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