Finland to Integrate Horseracing into New Licensed Betting Market by 2026!

This policy update, announced today, marks another step toward the nation's targeted launch of a new regulated framework in 2026. Currently monopolized by Veikkaus, Finland's gaming market is set to transform into an environment where both local and international operators can participate in the sports betting and online casino sectors through licensed arrangements.

The Finnish Government’s decision to include horseracing in the licensed market is part of a broader strategy to foster a fairer and more responsible gambling environment. Under this new model, state funding will be allocated directly to support horseracing, particularly in breeding initiatives and operator consultancy, enhancing the industry’s sustainability and appeal. Hippos ry, Finland’s central organization for horse breeding, will play a significant role in managing the industry's development, focusing on critical aspects like anti-doping measures and overall growth strategies.

Beyond horseracing, Finland’s updated policy aims to improve channelisation – or the ability to guide gamblers toward regulated markets – to reduce the potential harms associated with unlicensed gambling options. While the nation will open licensing for sports betting and online casinos, Veikkaus will retain exclusive rights to lottery games, land-based casinos, and certain betting games, preserving its foothold in specific segments of the market.

This reform aligns with Finland's recent steps to monitor and potentially regulate the interplay between gambling-related net winnings and social assistance benefits. Last month, Kela, the national social security agency, announced its intentions to assess how gambling earnings interact with social assistance, a measure that underscores Finland’s dedication to a responsible and balanced gambling ecosystem.

In line with EU procedural requirements, a draft of the new gambling legislation will be submitted to the European Commission before it proceeds to the Finnish Parliament in spring 2025. The ultimate goal is to have the demonopolised market framework fully operational by January 1, 2026. The European Gaming and Betting Association (EGBA) has previously expressed support for Finland’s shift toward a competitive licensing system, first outlined in a draft law released in July 2023. With this latest development, Finland is offering additional clarity on what to expect from its new gambling landscape, which promises to be both structured and supportive of industry growth.