Finland’s Parliament to Hold Debate on New Gambling Act
The Finnish Parliament is set to hold in a key debate today, February 12, 2025, regarding upcoming legislative proposals, including the much-anticipated new Gambling Act.
LISTEN TO THIS ARTICLE:Prime Minister Petteri Orpo, who has been in office since June 20, 2023, will present the proposed policies. Lawmakers have set aside three hours for the initial debate during which they will introduce various legislative changes and policy updates.
Plans to Create new Licensing System
A major highlight of the debate is the new Gambling Act, which would bring an end to Veikkaus’ long-standing gambling monopoly and establish a licensing system. This reform would allow other operators to enter the Finnish market, which would have the effect of increasing competition in the industry.
Calls for change have been ongoing since Finland consolidated its three largest gaming entities, Slot Machine Association (RAY), Veikkaus, and Fintoto, into a single entity under the Veikkaus name on January 1, 2017. Critics have since called on policymakers to address the monopolistic nature of Veikkaus and introduce regulatory changes.
The Ministry of Social Affairs and Health has explained that “the aim of the reform is to prevent and reduce the harm resulting from gambling and to improve the channelling rate of the gambling system.”
If passed, the new licensing system could take effect as early as 2026 and would apply to both online casinos and sports betting platforms.
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Changes to Financial Policy
In addition to restructuring Finland’s gambling industry, Orpo’s government has already introduced financial policy changes. Traditionally, funds generated by Veikkaus Oy were allocated to non-profit causes as outlined in the Lotteries Act. However, following legislative amendments in early 2024, these revenues are now directed into the state budget and can be used for any government expenditure.
According to the Ministry of Social Affairs and Health, these changes were made to “eliminate the dependency which the activities financed with proceeds from gambling have on the Veikkaus profits, both in terms of finances and the level of appropriations, and to step up the prevention and reduction of harm resulting from gambling.”
Additionally, just before Christmas, Finnish lawmakers introduced a new regulatory framework for the horse racing industry, which introduced updates to funding and breeding programs.
RELATED TOPICS: Regulation
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