Finnish harness racing faces collapse as Hippos launches gambling venture
Thursday 16th July 2026 on 08:30 in
Finland
Finnish harness racing is in financial crisis, with funding dropping from €40 million to €30 million annually, threatening the survival of multiple tracks, reports Yle.
Hippos, the sport’s governing body, has established a gambling company with Swedish firm ATG to reverse the decline. The license application for the new venture, Hippos ATG, is under review by the National Police Board. The company aims to offer harness racing betting, sports betting, and casino services, with 60% of profits going to Hippos.
“We’re at a critical level. Funding can’t drop much further,” said Hippos CEO Tomi Himanka. He believes the new company could revive the industry by increasing revenue and encouraging more horse breeding, which would improve race quality and attract more betting.
The opening of Finland’s gambling market to competition next summer, ending Veikkaus’ monopoly, may also boost visibility and income for harness racing. Currently, race revenues flow through the state budget, but Himanka notes that declining attendance—due to the sport becoming more TV-focused—has reduced ticket and hospitality sales, straining track finances.
Teivo racetrack in Ylöjärvi, Finland’s second-largest by race days, is adapting by transforming into an event center. After the upcoming Kuninkuusravit races, parts of the track, including two stable buildings, will be demolished to make way for residential housing. The long-term plan is to diversify usage, as the track’s current 30 race days a year underutilize the land.
“The event center concept was key to securing a lease extension with Ylöjärvi,” said Jukka Heiskala, chairman of Tampereen ravirata oy, which operates Teivo. Without this shift, the city would have removed the track from zoning plans. Heiskala warns that larger tracks must follow suit to survive, while smaller regional tracks may still manage with racing alone—for now.
Kajaanin racetrack has faced the most severe financial strain, nearly collapsing earlier this year. Himanka admits several other tracks cannot sustain many more years of losses.