There are various elements that make Finland unique – it frequently ranks as the happiest country in the world, aims to be carbon neutral by 2035, has Europe’s largest lake district and the world’s biggest archipelago.
Finland is also the EU’s only gambling monopoly, under which the State-owned operator Veikkaus is the only entity that is allowed to provide gambling services in Finland and market them. Apart from the monopoly, other restrictions apply. For instance, while no gambling product is prohibited in Finland, there are product specific limitations in place – including maximum stake, RTP and game speed.
Marketing restrictions laid down in the Lotteries Act also apply – for instance, Veikkaus can market gambling, but only if the marketing is moderate in quantity, scope, frequency, and visibility. Moreover, marketing cannot be directed to minors – while minors and vulnerable persons cannot be used in marketing. A number of games that present a specific risk of gambling harm cannot be marketed outside the premises where such games are available. Moreover, marketing of gambling must always include information about the age limit for gambling and where to find information on help with gambling problems.
Yet that is set to change as, in June of 2023, Finland’s new government said it would open up the online gambling market and introduce a licensing system for online gambling by January 2026. With this reform, the online gambling market would open, not just for Veikkaus but also for others you can find at Suomen Nettikasinot. This announcement followed a government study, which compared Finland’s monopoly system to the regime of other countries abroad – the study recommended that Finland should reform its monopoly system.
The government said that the main aim of the reform is to prevent the financial and social harm of gambling – in the process improving Finland’s channelisation rate to legal gambling offerings.
The gambling monopoly of Veikkaus would be no more – as the State-owned operator would be divided into a number of separate companies within the same group. This would effectively revert the 2017 decision to merge betting brand Veikkaus, slot business Raha-automaattiyhdistys and horse race betting operator Fintoto.
The new licensing system would be backed by a strong regulatory regime – and the Finnish government said that it would empower the regulator with sufficient resources to regulate the new licence model. Measures to combat sports integrity violations as well as money laundering would also be introduced.
Player protection is also high on the agenda – and Finland would establish a single self-exclusion platform for all gambling platforms. Moreover, while marketing would be allowed, this will be moderate and responsible in scope, frequency and visibility.
Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.gamcare.org.uk/