Key points
- Finland’s government has outlined a new, proposed regulatory framework for horseracing
- The update in policy seeks to provide a more fair and responsible landscape in the nation
The Finnish Government has today announced that horseracing will move to the competitive licensed market alongside other forms of wagering activities when the nation’s demonopolised and newly regulated market opens in 2026.
Finland has released additional details regarding the potential shape of its new market. As part of a new shift in policy, funding for horseracing activities will now be offered directly towards breeding initiatives and consultancy for horseracing operators from the state budget. Further, Hippos ry – Finland's central organisation for horse breeding - will receive funding to oversee the general development of the horseracing industry, alongside anti-doping measures.
As specified by the Government, this update in policy seeks to reduce and ultimately eradicate gambling disadvantages in the nation by improving channelisation in the Finnish market. Now, a competitive licence for operators looking to enter the nation can be obtained for sports betting and online casino, while Finland's current monopoly operator, Veikkaus, will retain the rights to lottery, betting games and land-based casinos.
Good to know: Last month, Kela announced plans to examine net winnings related to gambling and social assistance in Finland
A draft of the new law is set to be sent to the EU Commission before it can be presented to parliament in the spring of 2025. Finland has set out the goal of a fully regulated new market for 1 January 2026.
Following the EGBA welcoming Finland’s plans to introduce a new licence system in October 2023, the nation released the first draft of its proposed licence system law in July this year. Now, this latest update seeks to provide additional clarity as to the specifics of what the country’s new market could look like.
