The Finnish Parliament will hold debates on upcoming proposals and policies, including the highly anticipated new "Gambling Law".
The debates will feature a speech by the current Prime Minister, Petteri Orpo, who took office on June 20, 2023.
Today's opening debate has allocated three hours to introduce the upcoming policies and suggestions.
The new "Gambling Law" proposal will end Veikkaus's gambling monopoly in the country and introduce a licensing model, opening up competition to other operators.
Since the merger of Finland's three major gambling companies—Slot Machine Association (RAY), Veikkaus, and Fintoto—on January 1, 2017, operating under the name Veikkaus, there have been calls for new regulations on Veikkaus's monopolistic nature.
The Ministry of Social Affairs and Health stated: "The purpose of the reform is to prevent and reduce the harm caused by gambling and to improve the diversion rate of the gambling system."
It is worth noting: The new licensing system is expected to be introduced in 2026 and will apply to online casinos and sports betting platforms.
One of the biggest reforms introduced by the Orpo government so far involves the destination of Veikkaus Oy's profits.
Traditionally, lottery proceeds were used for non-profit purposes as stipulated in the "Lottery Law". However, due to revisions at the beginning of 2024, these proceeds are now included in the general government revenue and used to pay for any expenditure item in the government budget.
The Ministry of Social Affairs and Health again stated: "The purpose of the revision is to eliminate the dependency of activities funded by gambling revenue on Veikkaus's profits, both financially and at the grant level, and to strengthen the prevention and reduction of gambling-related harm."
Additionally, just before Christmas, Finnish legislators outlined a new regulatory framework for the horse racing industry, including changes to funding and breeding plans.
