The Finnish government has announced a groundbreaking new legislation that will put an end to the monopoly held by the state-owned gambling company, Veikkaus. The Finland Gambling Act, which is set to be implemented in early 2023, will open up the market to other operators and allow for a more competitive and diversified gambling industry in the country.
Under the current system, Veikkaus has held a monopoly on all forms of gambling in Finland, including lotteries, sports betting, and online casino games. This has meant that Finnish players have had limited options when it comes to gambling and have been subject to strict regulations imposed by the state-owned company.
However, the new Gambling Act will change all of this. The legislation will allow for other operators to apply for licenses to offer gambling services in Finland, effectively breaking the monopoly held by Veikkaus. This will not only give Finnish players more choice when it comes to gambling, but will also create a more competitive market that will benefit both players and operators.
One of the key motivations behind the new legislation is to combat problem gambling in Finland. Veikkaus has come under fire in recent years for its aggressive marketing tactics and its failure to adequately address the issue of problem gambling in the country. By opening up the market to other operators, the government hopes to provide players with a safer and more responsible gambling environment.
In addition to allowing for more operators in the market, the Finland Gambling Act will also introduce stricter regulations for all gambling companies operating in the country. This will include measures to protect players, such as limiting the amount of money that can be spent on gambling and implementing stricter age verification checks.
The announcement of the new Gambling Act has been met with both praise and criticism. Supporters of the legislation have hailed it as a positive step towards creating a more responsible and competitive gambling industry in Finland. However, critics have expressed concerns about the potential increase in problem gambling that may come with the opening up of the market.
Overall, the Finland Gambling Act represents a significant change in the country’s gambling industry. By ending the monopoly held by Veikkaus and introducing new regulations, the legislation aims to create a more diverse and responsible gambling market that will benefit both players and operators. The implementation of the act in 2023 is sure to bring about a new era for gambling in Finland.
