The Finnish government has officially announced a significant overhaul of its gambling market with plans to incorporate horseracing into a competitive licensed environment. The shift marks an end to Finland’s long-standing gambling monopoly and opens the door to a regulated market, set to launch on January 1, 2026. This new legislation reflects Finland’s aim to modernize and align its gambling practices with international standards, especially in the European Union.

Finland to Open Horseracing Market to Competition with New Gambling Regulations Set for 2026

A Landmark Decision for Finland’s Gambling Market

The new policies announced by the Finnish government will redefine the gambling landscape in Finland. Historically, Finland has operated a monopoly model in which Veikkaus Oy served as the sole authorized operator, managing lottery, betting games, and land-based casinos. However, as part of a more competitive and fair gambling market, the Finnish Ministry of the Interior has introduced legislation that will allow other operators to obtain licenses for sports betting, online casino gaming, and horseracing.

The Role of Veikkaus in the New Market

Under the new regulation, Veikkaus will continue to hold exclusive rights over certain activities:

• Lottery Operations – Veikkaus will retain its monopoly over lotteries.
• Land-Based Casinos – Veikkaus will continue to be the sole operator of physical casinos across Finland.
• Retail Betting – Traditional betting at physical locations will also remain under Veikkaus’ control.

While Veikkaus will continue to operate these segments, new licensed operators will be able to enter the market in online sports betting, online casinos, and horseracing. This arrangement reflects a balanced approach that aims to increase competition without destabilizing Veikkaus’ essential revenue contributions to state welfare.

Horseracing: Moving to a Competitive Model

One of the most noteworthy aspects of this policy shift is the inclusion of horseracing in the competitive licensed market. Previously, horseracing in Finland was under tight control, with limited competition and funding primarily sourced from Veikkaus profits. With the transition, the Finnish government is introducing direct funding from the state budget to Hippos ry, Finland’s central organization for horse breeding and racing. This funding will support:

• Breeding Initiatives – Investments to improve the quality of horse breeding in Finland.
• Industry Consultancy – Guidance and consulting services to improve horseracing operations.
• Anti-Doping Measures – New funding to ensure doping-free races, supporting the integrity of the sport.

This approach aims to create a sustainable ecosystem for horseracing, improve transparency, and support the industry’s growth under a fair and competitive framework.

Why Finland is Reforming Its Gambling Laws

Finland’s decision to dismantle its gambling monopoly and transition to a more open market is motivated by several factors:

1. Aligning with European Standards – As a member of the European Union, Finland has been under pressure to reform its monopoly model to promote competition.
2. Channelization and Reducing Illegal Gambling – By offering legal and regulated gambling options, Finland aims to improve channelization rates, reducing the reliance on offshore gambling platforms and keeping gambling revenues within the country.
3. Protecting Consumers – Finland’s new regulations are designed with player safety in mind, incorporating responsible gambling measures and consumer protections.

Through these changes, the Finnish government intends to create a controlled environment that prioritizes consumer protection and reduces the risks of gambling addiction.

Timeline and Legislative Process for the New Market

The roadmap to Finland’s regulated market will follow a structured timeline, with important milestones planned along the way:

• Draft Legislation – The initial draft of the law will be presented to the European Commission for approval, ensuring it aligns with EU competition and trade policies.
• Parliamentary Review – Following the Commission’s review, the proposal will go before the Finnish Parliament in early 2025.
• Implementation Date – The Finnish government has set an official launch date of January 1, 2026, for the reformed market.

This timeline ensures that the law undergoes thorough examination and meets all regulatory standards before coming into effect.

Potential Challenges and Considerations

Transitioning from a monopoly to an open market presents challenges. Here are a few that the Finnish government and industry players may face:

• Ensuring Fair Competition – New entrants may find it difficult to compete with Veikkaus, which already has an established player base and infrastructure.
• Monitoring Responsible Gambling – With increased accessibility, Finland will need to ramp up its responsible gambling measures to prevent addiction.
• Revenue Allocation – Historically, gambling revenue has funded many social programs. Finland will need to establish a transparent approach for revenue allocation in the new market structure.

Implications for Operators Interested in Finland

With the new competitive landscape, international and local operators interested in entering the Finnish market will have opportunities in online sports betting, casino games, and horseracing. To operate legally in Finland, they must apply for a competitive license under the new framework and adhere to the strict regulations set by the government, ensuring compliance with responsible gambling protocols and consumer protection policies.

Looking Forward: The Future of Gambling in Finland

The opening of Finland’s gambling market is a significant step forward for the industry. This shift aligns Finland with its European counterparts who have successfully transitioned to competitive gambling markets, balancing state control with market liberalization. By setting clear rules and maintaining a strong regulatory framework, Finland’s reformed market holds the potential for sustainable growth, increased consumer choice, and enhanced consumer protection.

Finland’s newly regulated market is set to reshape the country’s gambling landscape by fostering competition, enhancing responsible gambling efforts, and providing fresh growth opportunities. As the market prepares for its official 2026 launch, industry players and consumers alike are watching closely to see how this shift will impact the future of gambling in Finland.

FAQs About Finland’s New Gambling Market Regulations

1. What changes has Finland announced in its gambling market?

Finland has announced a transition from a monopoly model to a competitive licensed gambling market. This means that international and local operators can apply for licenses to offer sports betting, online casinos, and horseracing, although the state operator, Veikkaus, will still manage lotteries, land-based casinos, and retail betting.

2. When will the new regulations take effect?

The reformed market is set to launch on January 1, 2026. The Finnish government is currently in the process of finalizing the draft legislation, which will be reviewed by the European Commission and later submitted to the Finnish Parliament for approval.

3. Will Veikkaus lose its monopoly completely?

No, Veikkaus will retain exclusive rights over certain segments, including lotteries, retail betting, and land-based casinos. However, online sports betting, online casino games, and horseracing will be open to competition from licensed operators.

4. What impact will the new laws have on horseracing?

Horseracing will transition to a competitive model, and funding for horseracing will come directly from the state budget. Hippos ry, Finland’s central organization for horse breeding and racing, will receive funds to support breeding initiatives, industry consultancy, and anti-doping measures.

5. Why is Finland changing its gambling laws?

The change is motivated by a desire to align with European Union standards, reduce illegal gambling, protect consumers, and improve revenue channelization. A competitive market is expected to retain more gambling activity within the country and offer stronger consumer protections.

6. What are the main objectives of Finland’s new gambling policy?

The main objectives are to foster competition, increase consumer choice, improve responsible gambling measures, and ensure that gambling revenue is used transparently for public benefits.

7. How can new operators enter Finland’s gambling market?

To operate legally in Finland, new operators must apply for a competitive license under the new regulations. They will need to comply with stringent rules on consumer protection and responsible gambling.

8. Will Finland’s new laws affect revenue distribution from gambling?

Yes, the revenue generated under the new system will be redistributed through a transparent approach, with a focus on funding social programs and supporting the horseracing industry.

9. What role does the European Commission play in this process?

The draft legislation will be reviewed by the European Commission to ensure it aligns with EU competition and trade policies before it proceeds to the Finnish Parliament.

10. How will the new laws address responsible gambling?

Finland’s updated regulations will include strict responsible gambling protocols to protect consumers and reduce gambling-related harm. The government will oversee these measures to ensure player safety in the expanded market.