Horseracing betting will fall under the commercial gambling sector’s jurisdiction, instead of the monopoly. This was the final addition a cross-party political committee made to the new gambling legislation. The final version was then submitted to the European Commission (EC) for review on 1 November.

Finland is preparing to usher in competitive online gambling in January 2026 as it moves away from its legacy monopoly model and the monopoly operator Veikkaus competes against licensed operators for market share across both online sports betting and gaming.

The sector had been unsure where horseracing betting would lie in the regulation, as prior to re-regulation it was offered exclusively by the monopoly.

In a statement noting its final decision on horseracing betting, Finland’s ministry of the interior said state funding would support breeding and developments in the horse racing sector.

“In the future, through the state budget, support will be allocated to breeding, horse industry operator-specific advice and the development of the competition system,” the statement said.

Industry was unsure where horseracing betting would fall 

Local consultant Jari Vähänen told iGB in July that there was no mention of whether horseracing betting would remain under the monopoly in the draft regulations. These were released on 3 July.

“It’s another story, on what will happen for horseracing, right now it’s on the monopoly side,” Vähänen said at the time. “I know the horseracing industry is lobbying heavily to move to the licence-based system. If that happens, I suppose that horseracing betting will be also allowed in retail salons.”

Then on 16 October, Mika Kuismanen, CEO of Finnish online gambling trade body Rahapeliala Ry, told iGB the ministry for the interior was in the final stages of preparing the legislation before sending it off to the EC.

He said horseracing betting and the launch date for the open market were the final two decisions left for the government, and a cross-party committee, to make.

The ministry for the interior confirmed in its statement that 1 January 2026 would remain the open sector’s launch date. “Finland’s gambling system will be reformed and opened to competition with a licence model no later than 1 January 2026,” it said.

On sending its regulation to the EC, the ministry said: “The purpose of the procedure is to get possible feedback from the Commission and other EU member states on the proposal’s consistency with EU legislation and the principles of free movement.

“The government’s proposal is to be presented to the parliament in the spring session of 2025.”

In July, the government said it aimed to present the final draft to parliament in February 2025. This os ahead of it launching the market fully in January 2027.

“We will likely have the law approved [by parliament] before midsummer [June 2025],” Kuismanen said previously.

Regulation more “business friendly” that earlier efforts

Commenting on the regulation, Antti Koivula, a legal advisor for Finland-based Legal Gaming, said while some commentators may remain disappointed, it does bode better for businesses than earlier proposals.

“Overall, the updated draft law is significantly more business-friendly compared to the initial draft released in July.” Koivula said. “As a lawyer, I have yet to encounter a law that satisfies all interest groups.”

Koivula noted how marketing restrictions have been eased, particularly with regard to brand marketing conducted offline. He also spoke about the benefits of moving parimutuel horse betting from the exclusive rights category to licensing.

However while Koivula said gross gaming revenue tax rate (GGR) remains the same, there is additional burden for some operators.

“The GGR-based annual supervision fee has been notably increased,” he said. “It effectively creates an additional tax burden that can exceed 2% at certain GGR levels.”

In addition, Koivula accepted certain “much-needed” clarifications were made in the explanatory notes of the legislation, there is still some level of uncertainty that will need to be address.

“Several much-needed clarifications were included in the explanatory notes, which is highly positive,” he said. “On the other hand, many aspects have been deferred to secondary legislation, leaving numerous questions unanswered for the time being.”

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