Finland is preparing for a significant shift in its gambling regulations with the anticipated partial liberalization of its gambling market set for July 1, 2027. This change will allow licensed private operators to enter the online gambling sector, marking a departure from the current state-owned monopoly system.
Applications for gambling licenses began in March 2026, and the National Police Board, which oversees the approval process, has already started announcing approved licenses.
Currently, the Finnish gambling landscape is dominated by Veikkaus, the state-owned entity that holds exclusive rights to all forms of gambling. On the designated date, online gambling will open up to competition from private entities, although Veikkaus will maintain its monopoly over land-based gaming machines and traditional lottery games. To handle the regulatory framework for this new market, a newly established agency, the Supervisory Agency, will take over oversight duties.
The Finnish market presents a lucrative opportunity for operators, boasting one of the highest per-capita gambling rates globally. With strong political support for the liberalization of online gambling, Finland stands in contrast to many European nations where regulatory tightening and tax increases are more common. Industry experts have expressed optimism about the new regulatory approach, suggesting a broad approval among European gambling operators.
Several major companies have expressed intentions to expand into the Finnish market. The CEO of Wildz Group mentioned plans to introduce 11 brands in Finland and to seek additional licenses following their initial license approval in October.
Despite Veikkaus's current monopoly, a significant gray market exists where operators can legally offer gambling services, provided they do not directly market to Finnish consumers. Projections estimate that the total gross gaming revenue (GGR) for Finland in 2026 will reach approximately €1.9 billion. In contrast, Veikkaus reported a total GGR of €931 million for 2025, significantly down from €1.8 billion in 2017.
The channelization rate in Finland is around 50%, a sharp decline from 90% reported a decade ago. This downward trend has prompted the push for liberalization in the iGaming sector.
Regarding B2B suppliers, operators will have the freedom to select their service providers as long as they comply with the requirements of the updated Gambling Act. However, beginning July 1, 2028, B2B service suppliers will need to acquire a license from the Supervisory Agency. The application period for these suppliers to obtain B2B software licenses will commence in July 2027.
For your reference, here is a list of approved Finnish gambling licenses:
– Amber Entertainment Finland Ltd RALU/2027/L118
– Atlantic Games Malta Ltd RALU/2027/L119
– Benelongs Ltd RALU/2027/L115
– Buccone Trading Limited RALU/2027/L114
– Cloudberry Ent Limited RALU/2027/L101
– Granturo Finland Ltd. RALU/2027/L107
– Green Reef Oy RALU/2027/L120
– Hippos ATG Oy RALU/2027/L108
– KuuFlip Limited RALU/2027/L102
– Nivei Ursi Limited RALU/2027/L103
– UnionJack Limited RALU/2027/L113
– Pot Luck Club Ltd RALU/2027/L117
– RocketLily Ent Limited RALU/2027/L104
– Roi Roger Limited RALU/2027/L112
– SixthSpin Limited RALU/2027/L105
– Skill On Net Ltd RALU/2027/L109
– SuomiVeto Oy RALU/2027/L111
– Sunflower Gaming Limited RALU/2027/L110
– Stare Straight Ltd RALU/2027/L116
– YTBlue Limited RALU/2027/L106
