The country is moving quicker than expected toward an open online gambling ecosystem
Finland is moving closer to expanding its iGaming market, with a significant step planned before the end of the year. The Finnish government intends to send its proposed gambling legislation to the European Commission (EC) for review ahead of schedule, possibly allowing the market to open sooner than expected. Originally, the new competitive online gambling market was planned for 2027, but this could now happen earlier if the EC gives its approval by mid-2025.
The draft legislation was published in July and opened for public consultation. Some industry experts voiced concerns that the regulations may be too strict to encourage healthy competition. Criticism was aimed particularly at the potential ban on affiliate and social media marketing, with some fearing it could make licensed operators less competitive in the market. The European Gaming and Betting Association (EGBA) warned that such restrictions could have unintended consequences, potentially pushing players towards unlicensed platforms.
One major decision still under review is whether private operators will be allowed to offer betting on horse racing, a segment currently monopolized by the state-owned Veikkaus. The horse racing industry has shown support for opening up this area to competition, hoping it would improve their financial standing.
Meanwhile, Veikkaus is undergoing significant changes, including potential layoffs of up to 620 employees following a sharp 21% drop in gross gaming revenue in the first half of the year. The company is preparing for increased competition as Finland edges toward ending its state monopoly on gambling, a system that only a few European countries, like Norway, still maintain.
If approved, these changes could reshape Finland’s gambling landscape, allowing for more private-sector involvement and increased competition in the iGaming market.
