Finnish Parliament Debates Gambling Reform, Proposes End to Veikkaus Monopoly

The Finnish Parliament is set to debate the highly anticipated new Gambling Act today, 12 February 2025.

During the session, which has been allocated three hours for the opening debate, lawmakers will introduce the proposed policies and reforms.

Prime Minister Petteri Orpo, who has been serving since 20 June 2023, will deliver a presentation outlining the key policy changes. A central focus of the debate is the proposed end to Veikkaus' monopoly on gambling in Finland. The new legislation seeks to establish a licensing system, opening the market to other operators and increasing competition.

The proposal marks a major shift from the current system, which has been in place since the merger of Finland’s three largest gaming companies—The Slot Machine Association (RAY), Veikkaus, and Fintoto—under the Veikkaus brand on 1 January 2017. Since then, calls for regulatory reform have persisted, with critics arguing that the monopoly limits competition and consumer choice.

The Ministry of Social Affairs and Health highlighted the goals of the proposed reform, stating, “the aim of the reform is to prevent and reduce the harm resulting from gambling and to improve the channelling rate of the gambling system.”

Additionally, Prime Minister Orpo’s government is introducing changes to how revenue from Veikkaus Oy is allocated. Previously, under the Lotteries Act, proceeds were reserved for non-profit causes. However, amendments passed in early 2024 redirected these funds into the government’s general revenue for broader budgetary use.

The Ministry of Social Affairs and Health addressed the rationale behind this change, explaining, “the aim of the amendments is to eliminate the dependency which the activities financed with proceeds from gambling have on the Veikkaus profits, both in terms of finances and the level of appropriations, and to step up the prevention and reduction of harm resulting from gambling.”

With the proposed reforms up for discussion, today’s debate is expected to play a pivotal role in determining the future direction of Finland’s gambling industry. Lawmakers and stakeholders will weigh in on the new regulatory framework and its potential impact on the market, consumer protection, and public welfare. 

By fLEXI tEAM