Finland lays out new regulated market draft plans with aim to launch in 2027

Finland’s Ministry of the Interior has asked for feedback on its draft governmental gambling act proposal, with an aim to launch an open, multi-licence model at the start of 2027.

The feedback window will be open until 18 August, with plans to submit the final government proposal to the Finnish parliament in spring 2025.

Applications for licences would then be accepted from the start of 2026, with the market launching from 2027.

In addition, the Finnish government has outlined a B2B licence regime, with applications to be submitted at the start of 2027 and only licensed suppliers allowed to operate in the market from 2028.

The government said an annual licence fee would apply, but has not disclosed at what level this would be set.

Veikkaus, the state-owned operator that runs the current monopoly, will still operate under the new model, but would pay compensation yearly to the state.

Veikkaus will also retain the monopoly rights to “lotteries, pools, totalisator betting and physical slot machines”.

The government also said the new legislation could see it “relinquish part of its holding in Veikkaus if, going forward, this was deemed justified in the terms of the development of the state’s shareholder value”.

Outlined in the proposal, the new model will provide laws on how players can register to gamble and verify their identification and where they live.

There will also be clear rules on the minimum age to gamble and a proposal to introduce a centralised register for players who have self-excluded from participating in gambling.

In regard to marketing, firms will not be allowed to partner with social media influencers’ accounts, but can advertise via allowed channels.

Advertising and marketing should be “moderate”, should guide players away from the black market and not be aimed at minors or those at risk to gambling-related harm.

As the country prepares to switch from its current monopoly system to a multi-licensed market with commercial operators, the Ministry of the Interior also confirmed that the new Finnish Supervisory Agency will regulate the market.

Gambling is currently regulated by the National Police Board, with the newly formed regulator operating within the Ministry of Finance.

Its powers would be to not only address illegal activities by imposing sanctions, fines and penalties, but also to suspend licences for organisations that do not follow the rules and guidelines.

The regulator would also have the power to make test purchases while keeping an eye on gambling firms.

In further attempts to steer players toward the regulated market, the new measures will allow payment blocking to prevent black-market gambling.

Government grants will be given out to prevent and reduce gambling-related harm, while the Ministry of Social Affairs and Health will monitor and assess gambling and its association to any potential harms.

Antti Koivula, legal advisor at Legal Gaming Attorneys at Law, said: “It’s great that the project is nearly on its original schedule and the publication of the draft law was not delayed further. It should be highlighted that this is not a final version of the law, and it is anticipated that more modifications than on previous occasions will be implemented after the now-beginning hearing phase.

“It is now up to the interest groups to provide their statements for the benefit of the legislative reform process within the given deadline of 18 August, a task with which we will gladly assist. That being said, this draft law already provides a good overall picture of what is to come.

“These are my key points from the new draft law: B2C companies can apply for a licence from the beginning of 2026, but they will not be given permission to operate before the beginning of 2027. The B2B licence system will be introduced a year later in 2028. The tax rate is 22% of GGR.

“There is a relatively liberal approach to marketing in terms of mass media and sponsoring; however, the use of bonuses, affiliates and influencers will be banned. There will be a new supervisory authority with enhanced powers. There is no cooling-off period per se, but past infringements will lead to the rejection of licence applications.”

EGR analysed the Finnish model last year as it contemplated making the switch to a licensed framework.