The Finnish government announced that betting on horse racing will be included in a competitive licensed market alongside other types of betting when the new demonopolized and updated market begins operations in the country in 2026.
Finland has revealed additional details about the possible structure of the new market. According to the new policy, funding for horse racing events will be directed from the state budget to support horse breeding programs and to consult with racing operators. The organization Hippos ry, the central association for horse breeding in Finland, will also receive funding for the overall development of the horse racing industry and for implementing anti-doping measures.
According to the government statement, this updated policy aims to reduce and completely eliminate the negative effects of gambling in the country by improving the redirection of players to the legal Finnish market. Now, operators wishing to enter the Finnish market can obtain competitive licenses for sports betting and online casinos, while the current monopoly operator Veikkaus will retain the rights to conduct lotteries, betting, and manage land-based casinos.
A draft of the new law will be sent to the European Commission before it is presented to parliament in the spring of 2025. Finland aims to fully regulate the new market by January 1, 2026.
After the European Gaming and Betting Association (EGBA) supported Finland’s plans to create a new licensing system in October 2023, the country published the first draft of the proposed licensing law in July this year. This update is intended to provide further clarity regarding what the new market in Finland will look like.
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