Tensions Rise as Finland Moves Toward Market Liberalisation
Swedish gambling operator AB Trav och Galopp (ATG) has publicly accused Finland’s state-owned monopoly Veikkaus of engaging in anti-competitive behaviour as the country prepares to dismantle its exclusive gambling model. The accusations add a layer of controversy to Finland’s upcoming gambling market de-monopolisation, which is scheduled to take effect on 1 January 2027.
Veikkaus, currently the sole licensed gambling entity in Finland, is alleged to be making moves that would give it an unfair first-mover advantage once the market is opened to private operators. As Finland plans to transition to a licensing model akin to those in Sweden and Denmark, foreign operators are eyeing opportunities — but ATG argues the playing field is already being tilted.
Key Accusations: Customer Transfers and Strategic Lock-Ins
ATG’s primary grievances include:
The abrupt termination of a 15-year horseracing partnership between ATG and Veikkaus, which ATG claims has limited the availability of Swedish horseracing content in Finland and Finnish races in Sweden.
Alleged long-term exclusive agreements between Veikkaus and key media and sports organisations — including TV production companies and Finnish sports leagues — designed to cement its influence ahead of the 2027 liberalisation.
Plans to transfer over one million players from Veikkaus’ current database to a newly licensed Veikkaus-owned entity, giving the incumbent a powerful built-in customer base at the launch of the open market.
ATG says it rejected a proposed contract extension until 2030, fearing it would be locked into terms that undermine competition in the upcoming regulatory framework.
A Precedent for Market Abuse or Strategic Business?
This is not the first time Veikkaus has drawn scrutiny. In November 2024, the operator was fined €2.9 million for marketing violations, highlighting persistent regulatory tension. The recent appointment of Jyri Lassi as General Counsel signals a legal push to prepare for the transition, though ATG’s accusations may prompt EU-level scrutiny over competition law compliance.
While ATG raises legitimate concerns about market fairness, Veikkaus maintains that its actions are compliant under current monopoly legislation — a structure it is still legally bound to operate within until 2027.
The Broader Context: Unlicensed Markets and Competitive Pressures
The dispute also highlights a regional trend: growing frustration among licensed operators over the presence of grey-market actors and the competitive dynamics within transitioning markets. ATG’s own Q1 report revealed continued challenges in Sweden, where unlicensed gambling remains prevalent despite licensing reforms.
Should the Finnish government fail to adequately enforce neutral conditions for new entrants, it risks undermining the goals of liberalisation — namely, improving consumer protections, increasing tax revenue, and reducing the influence of black-market operators.
Looking Ahead: Regulation Under the Microscope
As Finland moves forward with its reform, this conflict underscores the critical need for transparent, enforceable regulations that prevent former monopolies from leveraging legacy infrastructure and relationships to dominate the open market. With Scandinavian neighbours watching closely, the Finnish government faces mounting pressure to ensure that the liberalisation process delivers genuine competition — not a reshaped monopoly under a new name.
