The Finnish government has announced the launch of a new program to regulate the local gambling sphere more efficiently.
The jurisdiction intends to abandon the established monopoly system entirely in favour of a multi-licence structure that has already proven productive in other European Union countries.
Reasons for the Upcoming Modernisation
Finland is the last EU state to retain a monopoly on the domestic entertainment market. A new gaming licensing format for operators will make the local industry more transparent and competitive.
The EGBA officially supported the initiative. Maarten Haijer, the organisation’s Secretary General, believes monopoly does not work in the online segment.
The expert is convinced that niche consumers receive the best service and experience in a well-protected, regulated, competitive environment. Such a market can offer various casino security tools, such as deposit limits and self-exclusion programs.
Nuances of the New Supervision Format
Moving away from the monopoly structure is a fundamental step in the right direction. Nevertheless, some aspects of Finland’s novel gambling rules require revision and subsequent changes.
In particular, Mr Haijer highlighted the following aspects:
- Casino advertising ban. Affiliate services and social media platforms are crucial in attracting consumers to licensed operators. Without these channels, users will increasingly interact with shady websites that do not comply with the law.
- Bonus prohibition. The specialist believes the lack of incentives will make the country’s legal brands less competitive than fraudulent ones. Instead of abolishing special offers and engagement programs altogether, it would be worthwhile to introduce rules for the responsible use of promotions.
According to the EGBA’s representatives, only a rational and structured approach to market regulation will help balance decent levels of competitiveness and consumer protection. The association has already submitted its report and expert opinions to the Finnish government to improve the segment’s legal framework.
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