Finland to open up horseracing to commercial operators as part of re-regulation
Allocations made for horseracing industry from state budget when the competitive gambling market goes live in January 2026, as monopoly operator Veikkaus loses out on vertical it was initially set to retain
Horseracing will move out of Veikkaus’ monopoly hold and into the multi-licence commercial market in Finland when the market regulates in January 2026.
The latest change to the regulatory framework comes as the Finnish government sent its draft law for its new gambling rules to the European Commission for approval.
Under the terms of the draft legislation, support will be allocated to the horseracing industry through the state budget.
This includes support for breeding, advice for racing-focused operators and the development of the horseracing gambling market.
Funding will also be provided for Suomen Hippos ry, the body responsible for Finnish horseracing’s general development and anti-doping control.
Finland’s Ministry of the Interior plans to formally submit its gambling market proposals to the country’s parliament by spring of 2025 following approval from the European Commission.
The European Commission and EU member states will be able to provide feedback and whether the policy aligns with EU legislation and principles of free movement.
In July, the Finnish government said operators would be able to apply for a licence from the start of 2026, in preparation for a full market launch from 2027 onwards.
However, the latest update indicates the multi-licence commercial market will go live from January 2026.
The re-regulated market would open the door to new operators, ending the current monopoly enjoyed by state-owned operator Veikkaus.
Licences would be obtainable for sports betting, online casino, online bingo and online slots.
Veikkaus would still operate under the new market conditions, paying yearly compensation to the state.
The operator would also retain its monopoly rights to lotteries, pools and physical slot machines.
Additionally, laws will be included pertaining to how players can register to gamble and verify their identification and where they live.
A newly formed regulator, to be housed in the Ministry of Finance, will also have the power to block payments to certain operators in order to steer players away from the black market.
The regulations also include requirements for B2B suppliers to secure licences, a self-exclusion register and a ban on affiliates and marketing partnerships with influencers.
The Finnish government said the draft legislation has been designed to “prevent and reduce gambling disadvantages and to improve the degree of channelisation of the gambling system”.