Finnish Gaming Market: A New Era Dawns for Horse Racing
Horse Race Wagers in Finland to Transition into Commercial Market Setting
With 2026 marking the anticipated end of Veikkaus' monopoly on gambling in Finland, the country's gaming scene is poised for significant change. This shift paves the way for international competitors to join forces with the incumbent, potentially bringing about a more diverse and vibrant gaming market.
In the midst of these developments, the fate of betting on horse races hangs in the balance. Previously confined to Veikkaus' exclusive domain, the future of this popular betting activity has been clouded with uncertainty. Thankfully, lawmakers have opted to include horse racing bets as part of the updated commercial sector, breathing new life into the industry.
Though horse racing may now compete alongside other gaming ventures, the Ministry of the Interior has made a promise to continue providing support to the sector. By earmarking a portion of the state budget toward its development, the government ensures the long-term success of this historic pastime. This funding will also benefit Hippos ry, a crucial local horse breeding association.
Fueled by this announcement, the horse racing sector celebrates an impressive triumph in its quest for a license-based system. Advocates of this change argue that the commercial system would stimulate interest in horse races, bolstering the overall health of the industry.
A Warm Welcome for Commercial Operators
As the Finnish government moves toward launching their new license-based system by January 1, 2026, they remain open to feedback. Their forthcoming draft will be brought before parliament during the spring session of 2024, with legislators aiming to secure approval by the end of June 2025.
So far, proposals indicate that the impending Finnish gambling law will extend a warm welcome to commercial operators. In addition to easing advertising restrictions and modifying pari-mutuel betting rules, further revisions are being considered.
In the past, Finnish gaming was marked by a strong monopoly held by Veikkaus. However, the introduction of commercial licenses will allow for a broader array of offerings, including digital casinos, slots, bingo, and sports betting. Although specifics have yet to be published in the final draft, the trend is clear: a shift towards embracing the commercial sector.
While horse racing bets remain under discussion, it is noteworthy that Swedish gambling company AB Trav och Galopp (ATG) has already staked its claim in Finland. By signing a deal with one of the country's leading racing bodies, ATG expresses its enthusiasm to enter the Finnish market, potentially creating exciting opportunities for horse racing bettors in the near future.
Enrichment Data:
The impending Finnish gambling law, which seeks to put an end to Veikkaus' monopoly and implement a license-based system, features several key revisions:
- License Model: The new framework will employ a license model to govern the market, enabling various operators to offer digital casinos, slots, bingo, sports betting, and other services. These licenses will last for a period of five years.[3][5]
- Exclusions: Several sectors, such as lottery, scratch games, physical casinos, and land-based slots, will remain under the current monopoly system.[3]
- Taxation: Licensed operators will be subject to a 22% Gross Gaming Revenue tax.[3]
- Player Protection Measures: The new law includes measures like mandatory ID verification, payment limits, gambling blocks, and restrictions on gambling with borrowed money. Operators must also monitor player behavior and limit harmful play.[1]
- Minimum Age: There have been discussions about raising the minimum gambling age to 20 as a means to minimize potential harm.[1]
- Horse Racing Bets: Although specifics regarding horse racing bet changes are still undetermined, the interest of Swedish gambling company AB Trav och Galopp (ATG), which handles horse racing betting, highlights a growing interest in the Finnish market.[2]
In essence, the revisions aim to increase control, revenue, and player protection, although critics suggest that the measures may not adequately address potential harm.[1][5]
- "The evolving Finnish gambling landscape, marked by the shift to a license-based system, presents fertile ground for commercial operators specializing in digital casinos, slots, bingo, and sports betting."
- "With AB Trav och Galopp, a Swedish gambling company that handles horse racing betting, expressing interest in entering the Finnish market, the future of horse racing betting may see a surge in opportunities and diversity."
