Finland’s horseracing industry set for major overhaul in 2026

Sudhanshu Ranjan November 4, 2024

SiGMA news

Finland’s horseracing industry set for major overhaul in 2026

The Finnish government has officially announced a transformative shift in its gambling market regulations, set to take effect in 2026. As part of this shift, horseracing will move to a competitive licensed market, joining other forms of wagering activities in a newly structured, demonopolised environment. This landmark decision signifies a major change in how Finland approaches gambling regulation and support for the horseracing industry.

Why Finland is changing its gambling policies

Finland’s gambling market has long been controlled by a monopoly system, with Veikkaus overseeing lotteries, betting, and casino activities. However, with the rising popularity of online gambling and the pressure to adapt to modern regulatory practices, the Finnish government sees demonopolisation as a vital step.

The reformed system will allow operators to obtain licences for sports betting and online casinos, ending Veikkaus’ control over these activities. This shift aims to introduce competition and increase accountability among gambling operators, improving the quality and integrity of services offered in Finland. At the same time, Veikkaus will retain exclusive rights to run the lottery and land-based casinos.

Horseracing’s place in the market

For the first time, horseracing will move from a government-backed monopoly to a competitive, licensed market. With this shift, Finland’s horseracing sector will benefit from funding for breeding initiatives and other crucial industry needs directly from the state budget, fostering growth and development across the industry.

Hippos ry, Finland’s central organisation for horse breeding, will play an important role under this new model. It will oversee breeding, anti-doping, and other regulatory measures to ensure ethical and competitive standards within Finnish horseracing, further positioning Finland as a reputable market.

EGBA’s reaction

The European Gaming and Betting Association (EGBA) has shown support for Finland’s shift, describing it as a positive move towards a fair and competitive market. Other European nations, such as Sweden and Denmark, have adopted similar regulatory models, providing Finland with a blueprint for successfully balancing regulation and growth.

Finland plans to complete the legislative framework by the start of 2026. A draft of the new law is expected to be sent to the EU Commission for review in 2025. This timeline ensures that Finland’s new regulatory system aligns with EU standards and has the necessary checks in place for a smooth transition.

The new policy is expected to create valuable opportunities for horseracing operators, who can now compete fairly within the Finnish market. Additionally, with structured funding, Finland’s horseracing industry can continue to develop, supported by a competitive, regulated environment.