Finland approves large-scale reform of the gambling market

Finnish President Alexander Stubb has signed a law changing the gambling regulation system. Instead of the previous monopoly held by the state-owned company Veikkaus Oy, a multi-licence market will now operate in the country.

The new regime will come into effect on 1 July 2027. Operators will be able to apply for licences from 1 March 2026 through the National Police Board. Until 1 July 2027, it will act as the main regulator, after which its functions will be transferred to the Finnish Supervisory Authority.

Licences will be issued for bookmaking, online casinos and slots, as well as online bingo. The state-owned company Veikkaus Oy will lose its exclusive right to online gambling but will retain its monopoly on land-based casinos, slot machines, lotteries and instant lottery tickets.

Requirements for the B2B segment will also be tightened: from 1 July 2028, operators will only be able to use gambling software supplied by companies holding a Finnish software licence.

Mandatory identification (age 18+) will also be required for all types of games. Licensees must monitor player behaviour and provide protection tools, including a centralised self-exclusion system, the option to restrict specific games, and limits on account top-ups.

In addition, new obligations for advertising promotion are being introduced. Advertisements must indicate the minimum age allowed for gambling, as well as include links to resources for combating gambling addiction. Operators will be allowed to place advertisements on television, radio, in print media and on social networks, but only without direct interaction with consumers. Marketing involving influencers and direct marketing by telephone are prohibited.

Tougher measures were previously discussed, such as warnings about the consequences of gambling similar to those used for tobacco products, but parliament rejected these proposals.

It is worth noting that market participants have expressed concern about vague wording in the new law, in particular the concept of “moderate marketing”, as well as strict restrictions on affiliate traffic.