New Horizons for Finnish Gambling, Preparing for Market Liberation!

by | Oct 27, 2023 | casino | 0 comments

Another amazing piece of news resonated in the industry after it was announced that another ever-popular iGaming market wants to introduce new rules!

Namely, Finland’s Ministry of Finance has set its sights on reshaping the country’s gambling terrain. Their vision entails the liberalization and limitation of the Finnish gambling market, indicating a new era of chances for both players and operators. The launched timeline implies that this transformation is predicted to occur in 2026.

Legislative Evolution

The central goal of this step is mitigating the dangerous outcomes associated with gambling activities and optimizing the channeling rate of the gambling system. That is why Finland’s governance has undertaken a transformative journey.

The plan of legislation involves the division of the state-owned operator, Veikkaus, into distinct business parts. While one will possess its lottery game monopoly, another will enter the occupied arena of online sports betting and iGaming, where it will compete with other authorized operators.

This long-awaited shift comes as a battle against the black market that has flourished due to years of monopoly-driven gambling operations.

The Ministry of Finance commented on this move saying that the scheduled transformations contain diverse elements of the gambling ecosystem, including the licensing framework, permit fees, surcharges, tools for handling gambling routines, precluding of gambling-related damage, as well as the management and marketing of gambling activities.

A Collaborative Endeavor

To ensure the success of this enterprising task, a political steering group and an intersectoral working group have been called, featuring key ministries and authorities. The industry wants to manage the social importance of the licensing system, with special awareness of its influence on mitigating gambling-related harm.

Experts from various sectors will also be extensively consulted during the trial process.

The blueprint is set to culminate in the request of a government proposal to the Parliament during the Spring of 2025. The official launch of the licensed market is then anticipated to take place in early 2026. This coming changeover is poised to form a new gambling landscape in Finland, characterized by greater assortment and regulatory sophistication.

Velipekka Nummikoski, deputy CEO of Veikkaus expressed his opinion on this amazing move saying the following: ”It’s great that the project is progressing. This is the biggest gambling reform in the history of Finland, with an ambitious schedule. The government program has set clear starting points for the reform and it is good to proceed with them. Hopefully, a system will be created that effectively channels gambling into the licensed supply.”

Source: ”Finland’s Gambling Reforms Set For Implementation In 2026”. GamingInteligence. October 25, 2023.

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