For decades, Finland has kept one of the most restrictive gambling systems of Europe. That is about to change today. Finland is moving away from its state monopoly and adopting a competitive licensing system for online gambling. This landmark decision ends an era. This change represents the most important milestone in European gambling regulation. The new Gambling Act provides a clear framework for market entrants. It includes three license types: Exclusive license, Gambling license, and Gambling software license.
Yet, Veikkaus Oy will keep on playing a role in gambling world of Finland. The company’s exclusive license gives it sole rights to the state lottery, instant lottery games, physical slot machines, and casino games. Once private operators secure a gambling license and meet regulatory requirements, they can offer gambling services in Finland.
Showing strong industry interest in this historic change from state monopoly to competitive licensing, market rumors suggest at least thirty operators plan to ask for a gambling license. The decision of Finland to open its market gives operators a rare chance to join this newly regulated environment.
The Parliament of Finland has given its official approval to the new Gambling Act proposal of the government. The historic reform comes from Prime Minister Petteri Orpo’s government program. It ends the monopoly system that has shaped Finnish gambling for decades.
The new framework will reduce the exclusive rights of Veikkaus Oy by a lot. The state-owned operator has dominated Finland’s gambling industry until now. It will lose its monopoly on betting games, online slot machines, online casino games, and electronic money bingo.
Regardless, Veikkaus keeps its exclusive rights over lottery-type games, scratch cards, physical slot machines, as well as land-based casino operations. The company can also apply for licenses to operate in the newly competitive market segments. This allows it to operate in both monopoly and competitive spaces.
