On Tuesday the Finnish parliament voted to approve an iGaming bill that will end the market’s long-standing monopoly model.
The gambling reform bill, as amended by the parliament’s Administrative Committee, was voted for by a margin of 158–9 MPs.
A number of strict amendments had been proposed by the opposition party earlier in the month, but these were rejected by MPs last week. Included in its proposal were stricter marketing measures and an increase in the gambling age to 20, from 18.
The law will take effect from January 2026, and operators will be able to apply for licences from 1 March, according to Jari Vähänen of Finnish Gambling Consultants.
It will require approval from the Finnish president, who will sign the bill into law before the end of the year.
The parliamentary process
Market liberalisation was first proposed in July 2024, with an initial iGaming bill compiled by the Ministry of the Interior. Finland’s iGaming bill was first presented in parliament in March of this year, after facing public consultation and receiving responses from many industry stakeholders.
“The aim of the bill has been to find a regulatory solution in which the regulation combating gambling harms would be balanced with the fact that gambling companies want to apply for a licence and that online gambling would be directed to a regulated gaming offering,” Minister of the Interior Mari Rantanen said during the bill’s first passing through parliament.
But the process has faced various delays, and the sector will ultimately go live in July, six months later than was initially planned. In January, Mika Kuismanen, CEO of Finnish trade body Rahapeliala Ry, said he believed the law could be approved by the end of June.
But the Administrative Committee’s reading and amendments by the opposition held up the bill as it moved through parliament.
“The delay in the parliamentary process was primarily due to a few potential constitutional issues and disagreements over the timetable for the law’s implementation,” Vähänen wrote in a Tuesday blog.
“There was no significant political debate over the need to change the gambling system, but the parties’ views on the emphasis on responsible gambling and on business opportunities differed as expected.”
Operators prep for competition
Behind the scenes, operators have been preparing for the market’s launch. Monopoly Veikkaus has been building a private business that will compete with others in the liberalised market.
Despite delays in the legislative process, operators are largely positive about the market’s opening. FDJ United/Kindred´s general manager for Finland and Estonia, Joel Hakamies, recently told iGB: “It’s looking fairly good for the big picture. Overall it’s been fairly positive from our view.”
He added, however: “For our planning it would be better if the timeline was set in stone sooner rather than later. Uncertainty always blurs the horizon for investment.”
Jarkko Nordlund, EVP for iCasino and sports betting at Veikkaus, is adamant the former monopoly will secure a decent market share in the liberalised market. The operator is investing heavily in talent acquisition and recently shifted its betting platform to OpenBet.
Original article: https://igamingbusiness.com/legal-compliance/finland-igaming-bill-parliament-approved/
