Finland is on the Brink of Expanding Its iGaming Market

Key Aspects and Possible Challenges

The draft bill, made public in July, has prompted extensive feedback and mixed reactions from industry stakeholders. The proposal’s aim to foster a competitive market was well-received.

However, several regulatory concerns have emerged:

• possible bans on affiliate marketing and social media promotions;
• ambiguous policies for private operators offering horse racing stakes;
• stricter rules, potentially driving punters towards unlicensed sites.

As Finland advances toward market reform, the local monopoly, Veikkaus, faces significant financial challenges. The company recently reported a 21% decrease in GGR for the year's first half, which led to layoffs impacting up to 620 team members. This downturn reflects the pressure on Veikkaus amidst impending rivalry, as Finland and Norway remain among Europe’s last state gambling monopolies.

EC approval could unlock Finland’s entertainment market for private sector operators, fostering competition and offering greater benefits for consumers. This shift would mark a considerable step towards aligning Finland’s gambling sector with broader European standards.