The Finnish government has submitted its new gambling legislation to the European Commission (EC) for approval.
The notification to the EC comes ahead of the planned opening of Finland’s re-regulated gambling market, which will be open to private operators for the first time.
The legislation, submitted to the EC on 1st of November, maintains Veikkaus’ monopoly on lottery games, retail betting and casino gambling, with other forms of gambling subject to licensing.
The licences will allow operators to offer sports betting and horse racing, as well as online bingo and casino games, when the re-regulated market opens on 1 January 2026.
The licence reserved for state-owned gaming operator Veikkaus will be valid for ten years, while the other licences will have a five-year term.
The price of the exclusive licence for Veikkaus has not yet been determined.
As a result of the transition to the concession system, amendments to the Lotteries Act, the Lottery Tax Act, the Income Tax Act, the Criminal Code and some other laws are also proposed, and the flat gambling tax rate in Finland under the Lottery Tax Act will be set at 22 percent.
The Finnish government intends to submit the EU-approved legislation to the Riksdag in the spring session of 2025.
