Industry reaction to the passing of the Finnish Gambling Act

With the Finnish parliament having overwhelmingly backed the new Gambling Act, all that is left is for President Alexander Stubb to give his final approval. Once the ink dries, Finland will gear up for the launch of its commercial gambling market, due to go live on 1 July 2027m – six months later than initially planned.

The shift will bring an end to Veikkaus’ monopoly, with licence applications to open next year. B2B licences will be handed out in 2028. Here, EGR speaks to key figures from the Finnish gambling space to gauge their reaction to the landmark vote.

Joel Häkämies, FDJ United Finland general manager

“We are pleased to see the government’s process of online gambling re-regulation being finalised in the Finnish parliament. It’s been a long process that we’ve been monitoring closely.

“Finland has an opportunity to showcase a modern gaming regulation that allows both players and the industry to experience a safe and competitive market reality where channelisation, player wellbeing and sustainability remain a priority.”

Heikki Koivula, head of compliance at Legal Gaming Attorneys at Law

“On Tuesday, 16 December, the new Gambling Act was approved with strong parliamentary support, and the reform is now awaiting only the final step, which is largely a formality: confirmation by the President of the Republic.

“Under the adopted framework, licence applications are expected to open in March 2026, while the so-called market opening is scheduled for July 2027. This does not mean gambling suddenly becomes legal at that point. Offering gambling products to Finnish players has never been illegal. What changes is that Finland will finally move into a regulated licensing system where operators can market their services legally, are obliged to pay taxes domestically and operate under a defined supervisory structure.

“Looking ahead to 2027, the reform may bring a welcome injection of funding into Finnish sports. As the framework bans affiliate marketing, which is typically less visible to the general public and requires active user intent, while allowing marketing in public spaces, mass media and sports, it is reasonable to expect increased visibility of gambling marketing in Finland.

“The system will almost certainly face criticism once implemented, especially if one of its key objectives was to avoid the marketing flood seen in Sweden. If that outcome materialises, it may prompt reflection on whether the current wording has achieved the intended balance.

“Ultimately, success will be measured by channelisation, which remains the most reliable indicator of whether player protection and regulatory objectives are being met in practice, or are even possible to achieve in the first place.”

Mika Kuismanen, Finnish Trade Association for Online Gambling CEO

“It’s good that parliament has finally approved the law. We know the parameters and there is plenty of time for operators to prepare. I think it would have been better for the market if it had opened on 1 January, but this six month delay is purely political. There is a general election in April 2027.

“Overall, the law is a good one. It’s relatively liberal. It gives operators a degree of freedom across sponsorship and marketing. Compared to some of the restrictions in other European countries, I’m sure the operators are happy.

“On the other hand, there are issues and aspects about which we would have liked to be a bit different, but you’ll never get everything you want. There were lots of things the industry would prefer [over allowing affiliate marketing] such as lower tax rates, the ability to give bonuses and advertise.”

Mikael Bäcke, Hippos ATG CEO

“Hippos ATG naturally takes note of parliament’s decision to delay the opening of Finland’s licensed gambling market to 1 July 2027. While the postponement means that new revenue streams for Finnish horseracing will materialise later than originally anticipated, the decision was not unexpected given the legislative process and the adjustments made in its final stages.

“We have prepared for alternative timelines throughout the reform process, and our business plans are sufficiently flexible to adapt to the revised schedule. The delay affects timing, but it does not change our long-term objective of becoming a significant and sustainable financier of Finnish horseracing within the new licensing framework.”

Velipekka Nummikoski, Veikkaus deputy CEO

“The model we have been awaiting will improve the possibilities to channel gaming into legal offerings. Veikkaus has not, for a long time, had a genuine monopoly on gambling in Finland. According to various estimates, as much as €600m to €900m is played annually outside the official system.

“It is important that the licence-based market is sufficiently attractive for companies to apply for a licence. At the same time, it is essential to ensure that offshore offerings are tackled effectively.

“If unlicensed gambling cannot be effectively prevented, there is a risk that achieving the channelling objective and reducing gambling-related harm will become more difficult.

“The reform of the gambling system really took off on Veikkaus’ initiative in 2022, and we have been preparing for it for quite some time. The reform of the gambling system is a historic change and a major opportunity for Veikkaus.”

Carl Brincat, LeoVegas Group director of policy and regulatory affairs

“We welcome the passage of the new Finnish Gambling Act, which was approved by an overwhelming majority, demonstrating strong legislative support for this important regulatory development. 

“While we remain concerned about certain aspects of the framework, particularly those relating to customer acquisition and retention, as well as enforcement against the eventual black market, we look forward to working closely with the regulator to continue driving higher standards across the industry.”

A Betsson Group spokesperson

“We welcome the progress Finland is making towards a regulated, licensed gambling market.

“Moving away from a monopoly system is a positive step, offering players greater choice while maintaining strong levels of protection and supporting a competitive, sustainable market.”

Christer Fahlstedt, Paf CEO

“We welcome the decision to postpone the launch of Finland’s new gambling market to July 2027. A well-functioning licensing system requires careful preparation, and the extended timeline gives all parties the opportunity to build a solid framework.”