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Finland to Introduce Payment Blocks and Bans on Slot Ads
The Finnish Government has made requests to parliament that would see major changes in online gambling payments and advertisements in the country. The proposals would affect the lottery act, which regulates iGaming in Finland.
Changes to Gambling Regulation
The purpose of the proposals that have been put forward is to reduce the disadvantages and risks associated with gambling, according to the Ministry of the Interior. The changes would see payment blocks introduced for non-Veikkaus operators as well as mandatory identification and a ban on certain adverts.
In order to make sure that the law is being followed, the police would keep a list of gambling companies whose payments should be blocked by banks. The belief is that this would help with problem gambling and help users control their spending.
Another key part of the proposals is the introduction of mandatory identification. While this is already used in some parts of the gambling industry, the intention is for it to be industry-wide by 2024. This would help to prevent underage gambling issues, as well as the use of multiple accounts.
Stricter Advertising Laws To Be Introduced
One of the key features of the proposals was changes to gambling advertising laws and standards. The newly revised Lottery act would see the advertising of online slots and some other types of games banned. These types of games are believed to be particularly harmful and were highlighted as part of the proposals.
As well as a ban on certain types of games, companies would be required to provide certain information regarding products. This includes age limits, the possibility to apply for self-exclusion from gambling, as well as information about services to help those struggling.
If any company does not meet these new requirements, then the police would be able to administer penalties.
Further Changes Applied
It’s not all bad news for the online gaming world though. The revised Lottery Act would allow companies to market some types of games that are currently not allowed. This includes things like Toto games. The belief is that this would help push players back towards regulated markets.
Another issue that will arise is the placement of gaming machines in Veikkaus venues. This is because they would need to be in places where they can be monitored easily. Veikkaus has also recently introduced a compulsory loss limit of €500 a day to physical slot machines. This was after measures were applied to its online slot games.