The Finnish parliament has overwhelmingly backed legislation to end the state monopoly over gambling in Finland. Lawmakers backed the Finnish Gambling Act with 158 votes in favor and only eight against at its second reading.
The legislation will replace Veikkaus, the monopoly, over gambling with a multi-license framework, introduced in March to the Eduskunta. The government will split the state-owned operator into two entities. One part will compete with commercial licensed operators in online betting and gaming. The other will continue operating a monopoly over land-based gaming and Finland’s National Lottery.
After the rejection of amendments proposed by opposition parties, the proposed legislation received approval in its original form. These included a ban on advertising and bonuses. They also proposed increasing the tax rate from 22 per cent to 25.5 per cent of gross gaming revenue. Another proposal sought to raise the minimum gambling age from 18 to 20. Lawmakers overwhelmingly rejected these proposals.
Speaking during the second reading of the bill, National Coalition Party’s Juha Hänninen, argued that the Administration Committee, on which she sits, had made the necessary additions to the proposal.
He insisted that the current monopoly of Veikkaus no longer reflects reality as so much gambling in Finland happens online by foreign operators who don’t comply with local rules or taxes.
Hänninen said the reforms will clearly link gambling to a licensing-based system. Regulators will require gaming companies to hold a license, and they will require identification for all gambling activity.
Finland will launch its competitive, regulated online gambling market on July 1, 2027. This is six months later than the previously targeted January 1 date. A new Licensing and Supervision Agency will oversee the market, replacing the National Police Board as Finland’s gambling regulator. On March 1, 2026, license applications will open.
