Finland is preparing for a significant change in its gambling market, set to begin on July 1, 2027. On this date, private operators will be allowed to offer online gambling services in the country, marking a departure from the existing state-owned monopoly model. The process for obtaining licenses commenced in March 2026, and the National Police Board has started to announce its approvals for these licenses.
Currently, Veikkaus, the state-owned enterprise, holds exclusive rights to all forms of gambling in Finland. This monopolistic structure will shift when online gambling is liberalized, allowing private companies to compete. Despite this change, Veikkaus will still maintain its dominance over land-based gaming machines, lottery, and scratch cards.
As the new marketplace unfolds, regulatory oversight will transition from the National Police Board to a newly established entity, the Supervisory Agency, which is in the process of being created.
The Finnish gambling market is considered highly promising, with one of the highest rates of gambling per capita globally. The political backing for liberalizing online gambling stands in contrast to tightening regulations and increasing taxes seen in other parts of Europe. Experts from the European gambling industry have expressed positivity regarding the updated regulatory environment.
Major operators have ambitious plans for their entry into the Finnish market. For instance, the CEO of Wildz Group indicated intentions to launch 11 brands in Finland and apply for additional licenses after receiving their first one in October.
While Veikkaus currently monopolizes the market, there exists a significant grey market where operators can legally offer gambling services, provided they do not directly market to Finnish consumers. H2 Gambling Capital estimates the total market Gross Gambling Revenue (GGR) at approximately €1.9 billion in 2026. Although Veikkaus reported a GGR of €931 million for 2025, this figure dropped markedly from €1.8 billion in 2017. The channelization rate, an indicator of regulated market participation, is currently around 50%, a notable decline from 90% a decade ago, which is driving the push towards liberalization.
As for business-to-business (B2B) suppliers, they will have the liberty to select their service providers, provided they comply with the requirements of the updated Gambling Act. However, starting July 1, 2028, suppliers will need a license from the Supervisory Agency to offer B2B services to licensed Finnish operators. The application period for B2B software licenses will commence in July 2027.
