Regulatory overhaul in Finland

 

Gaming operator Paf support calls for the end to Finland’s gambling monopoly.

Operators are calling for an end to Finland’s gambling market monopoly, which is run by state-owned Veikkaus. Since no other operators are allowed to offer iGaming in Finland, authorities are facing many challenges to open the market, which will allow access to other operators. 

Among these operators is Paf, the Åland Islands-based operator, which has been very vocal in their call for change in Finland’s Gambling regulations. Paf are pushing for the elimination of illegal operators and their CEO, Christer Fahlstedt, is calling for a gambling license system to be introduced in Finland, and follow the rest of the European Union. 

Christer Fahlstedt | SiGMA NewsFahlstedt states; “Finland could build a regulated licensing system that serves Finnish society and enables gamblers to exclude games and gambling ads. With a licensing system for online gaming, Veikkaus would have an equal competitive position in online gaming as other foreign competitors, who would be subject to the strict regulation in Finland,” 

Fahlstedt acknowledged that, in 2023, there are some regulatory changes already being discussed. This includes mandatory player identification; however, he also indicates that Veikkaus is aiming to reduce revenues by around €150m per year, which will impact the social groups that the monopoly supports. 

Speaking out on the importance of social responsibility requirements associated with a licensing system, he states “It would be possible to include a loss limit for all gaming operators within the licensing system. The system could also restrict advertising in media as well as outdoors and at different events, in particular, to protect minors. This would be a significant improvement for gambling addicts compared to the current situation, where it is impossible to avoid gaming advertising in everyday life.” 

About SiGMA's revamped website:

SiGMA Group is excited to announce the launch of its newly revamped website. The website is currently available in 5 languages, English, Russian, Mandarin, Portuguese, and Spanish with plans to add another 5 languages over the coming months - namely French, Thai, Korean, Japanese, and Hindi.

 

Related Posts