Finland’s Veikkaus reform a ‘political surprise’, says expert
Finland’s Parliament has approved a sweeping reform of the country’s gambling laws, ending the long-standing monopoly held by state-owned operator Veikkaus over online betting and casino games. The new Gambling Act, backed by an overwhelming parliamentary majority, will introduce a licence-based gambling market from the summer of 2027.
Under the reform, Veikkaus will lose its exclusive right to offer betting games, online slot machines, and online casino products. However, the company will retain its monopoly over lottery games, scratch cards, physical slot machines, and land-based casino operations. The changes mark Finland’s most significant shift in gambling policy in decades.
Gambling companies will be able to apply for licences from 1 March 2026, with licenced operators permitted to begin offering services in the competitive market from 1 July 2027. Veikkaus itself will be required to apply for licences both for its remaining exclusive products and, if it chooses, to compete in the open market.
Political phase ‘effectively over’
Experts have warmly welcomed the move. Speaking exclusively to SiGMA News over the development, Antti Koivula, the Chief Compliance Officer of Hippos ATG, said the scale of parliamentary support stood out. However, he himself was surprised that the reform itself would get overwhelming support. The motion was cleared with a landslide vote of 158–9, with 32 absentees.
“While the outcome itself was not a surprise, the scale of the support is notable,” he said. “An approval rate of 95 percent among participating MPs sends an exceptionally strong signal of broad political consensus.”
According to Koivula, the reform has been recognised as necessary across political parties, leaving little room for further debate at this stage.“What remains procedurally is presidential ratification, which in practice is a formality under Finnish constitutional tradition,” he added. “Realistically, there is no political pushback expected at this stage. In short, the political phase is over. Now the focus is on preparation and implementation.”
Why the Veikkaus reform?
The government has framed the reform primarily as a consumer protection measure, aimed at reducing gambling-related harm and improving oversight. A key objective is to better “channel” gambling activity into regulated and supervised services.
Veikkaus’ Deputy Chief Executive, Velipekka Nummikoski, said the monopoly had already been eroded in practice. “Veikkaus has not, for a long time, had a genuine monopoly on gambling in Finland,” he said. “According to various estimates, as much as €600 million to €900 million is played annually outside the official system.”
Under the new law, foreign gambling companies will be subject to the same regulatory requirements as domestic operators, including strict rules on responsible gambling and consumer protection. The supervision of gambling activities will also shift from the National Police Board to a newly established Licensing and Supervisory Authority.
Marketing will be permitted only on a limited basis, including on licenced operators’ own websites and social media channels. Licence holders will be legally required to ensure their services cause as little gambling-related harm as possible.
Another reform looms in 2027
Although licencing opens in early 2026, the competitive market will not go live until July 2027. Koivula said this timing was deliberate. “The postponement of the B2C market go-live was primarily intended to avoid a flood of gambling advertising during the 2027 parliamentary elections,” he said. “Turning gambling marketing into an election theme would have significantly increased the risk of swift and heavy-handed regulatory reactions.”
From a policy standpoint, he argued, such an outcome would have undermined the reform itself. “From a policy perspective, that would have been counterproductive to the reform’s core objective of improving channelisation and reducing gambling harm,” he said.
Looking ahead, Koivula warned that the current legislation is unlikely to be the final word on gambling reform in Finland. “It has been openly discussed that there will likely be a second legislative round after the April 2027 elections,” he said. “This is expected to address shortcomings in the current framework, including enforcement tools to tackle the black market.”
He added that future changes could lead to tighter controls, particularly around marketing and responsible gambling requirements. From July 2028, licenced B2C operators will also be restricted to using only licenced B2B suppliers, further tightening regulatory oversight.
For now, the approval marks a decisive turning point, signalling Finland’s move away from monopoly control towards a tightly regulated, competitive online gambling market.
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