Finland's Regulated Gambling Market Faces Channelisation Challenges

Finland's shift towards a regulated online gambling market is bringing with it significant challenges related to channelisation. The government's plan to introduce a multi-licence regulatory regime has sparked concerns about the impact on licensed operators and their ability to compete with unlicensed counterparts. One of the key factors weighing in favour of the unregulated market is the prohibition on crypto payments, which has been met with criticism from industry experts.

According to Kristoffer Kantola, Co-Founder of Kryptokasinot.io, Finland has an opportunity to build a balanced and modern regulatory framework for cryptocurrency gambling. However, he warns that the current restrictions risk being too prohibitive towards crypto-led transactions, which could harm wider channelisation efforts. The ban on cryptocurrencies as a payment method is likely to result in a significant share of gambling activity remaining offshore, outside the regulated market.

The lack of flexibility when it comes to crypto payments is just one of several restrictions included in the new regulation that weaken the channeling rate. Other measures include the ban on affiliate marketing, restrictions on social media marketing, and the ban on bonus play money in customer acquisition. These restrictions put licensed operators at a competitive disadvantage compared to unlicensed operators, who are free to offer cryptocurrency gambling and attract players.