Authority figures in Finland have enacted a prohibition on Betsson and BML Group, a decisive move against these entities.
In Finland, the government is working towards establishing a competitive regulated gambling market by 2026, aiming to balance market openness with consumer safety and responsible gambling practices. Currently, Veikkaus, the state-controlled operator, holds the exclusive rights to offer gambling products in the country.
However, the transition to a competitive market is not without challenges. Recently, Betsson and its subsidiary BML Group faced a court ruling and a fine of €2.4 million for violating the Finnish Lotteries Act through targeted marketing to Finnish customers. The National Police Board of Finland blacklisted Betsson-owned brands, marking the first instance of a gambling operator being blocked in the country. Transfers to these blacklisted brands are now mandated to be blocked by banks and payment providers.
The blacklisting was primarily due to these brands operating in Finland without the required local license, thereby violating Finnish gambling regulations. The Finnish authorities took this action to restrict unlicensed operators, aiming to uphold regulatory compliance and protect consumers under the country’s strict gambling framework.
As part of the plan to reform its gambling system, Finland is introducing a licensing regime. This will open the market to multiple licensed operators, encouraging competition among providers to offer diverse and innovative gambling products. The government is also focusing on ensuring operators meet stringent regulations focused on consumer protection, responsible gambling, and anti-money laundering measures.
Maintaining strong oversight is crucial, and the National Police Board or designated regulatory bodies will enforce compliance. This move towards a competitive market is part of Finland's broader strategy to create a legally regulated gambling environment.
In a recent survey conducted by the Institute for Health and Welfare (THL), an increase in problem gambling was revealed in Finland compared to previous surveys. Men were disproportionately affected, with 6.6 percent of male respondents reporting seriously problematic gambling compared to 1.8 percent of female respondents. Approximately 4.2 percent of respondents, equivalent to 150,000 individuals nationally, reported experiencing problem gambling or being "at-risk."
As a response to these findings, Veikkaus is collaborating with OpenBet to modernize its fixed-odds betting services. The aim is to improve the overall gambling experience while promoting responsible gambling practices.
In conclusion, Finland's transition to a competitive regulated gambling market is a significant step towards fostering a safer and more innovative gambling environment. The government's focus on consumer protection, responsible gambling, and regulatory compliance will help protect consumers and maintain the integrity of the industry.
Casino-games and casino-and-gambling continue to be a contentious issue in Finland, given the recent blacklisting of Betsson-owned brands for operating without a local license and violating Finnish gambling regulations. Amidst these challenges, Veikkaus is modernizing its fixed-odds betting services to improve the gambling experience while promoting responsible practices.
