Horse Racing Industry Disappointed by Proposed Gambling Law Changes

The Finnish government’s draft proposal to reform gambling legislation has left the horse racing industry deeply disappointed. The draft, which has now entered the consultation phase, proposes dividing Veikkaus into two parts but retains its monopoly over certain games, including horse racing betting, or totopelit.

The Monopoly Remains

Under the proposed gambling law changes, Veikkaus would retain exclusive rights to lotteries, scratch cards, betting games (veikkauspelit), totopelit, physical slot machines, and casino games. For the horse racing industry, represented by Suomen Hippos, this decision is a significant setback.

Suomen Hippos had lobbied for the inclusion of horse racing betting in the new licensing system, arguing that this would enable the industry to collaborate with gaming partners and develop its operations in a more market-driven way. However, the draft legislation does not reflect their vision.

Gambling Law Changes: A Shift Towards Licensing

The draft legislation does propose opening betting games, online slots, and casino games to competition under a licensing model. This system would allow gambling companies to apply for licenses to operate in Finland, with the goal of reducing gambling-related harm and channeling demand towards a legally regulated system.

However, the exclusion of totopelit from the licensing model has left a sour taste for those in the horse racing world. As the consultation process moves forward, Suomen Hippos hopes to make their case and push for a more inclusive approach that supports the development of the horse racing industry.

The reform may represent progress in some areas, but for horse racing enthusiasts and stakeholders, it feels like a missed opportunity to secure the industry’s future.

Cover photo © Gene Devine on Unsplash / Source: