Finland approves new Gambling Act, industry set for makeover
The Finnish Parliament has approved a sweeping new Gambling Act aimed at curbing offshore gambling and reshaping the country’s tightly controlled betting market.
From June 2027, state-owned operator Veikkaus will lose its exclusive rights to online casino games and sports betting, opening the sector to a licensing regime for private operators.
Under the reform, gambling companies will be able to apply for Finnish licences from March 1, 2026, with the competitive market formally launching on July 1, 2027.
Veikkaus will retain monopoly control over lotteries, scratch cards and land-based slot machines, but will also be permitted to apply for licences to compete online.
The overhaul is designed to channel players into regulated gambling platforms, reduce gambling-related harm and increase tax revenues by bringing offshore activity onshore.
Veikkaus deputy CEO Velipekka Nummikoski said an estimated €600m to €900m in annual gambling spend currently occurs outside the legal system.
Regulatory oversight will move from the National Police Board to a new Licensing and Supervisory Authority, with strict rules on consumer protection and limited marketing allowed only through controlled channels such as operators’ own websites and social media.
The blueprint for the newly regulated Finnish gambling industry also includes a ban on new account incentives and a tax on gross gaming revenue, while players’ winnings are tax free.
