Finland is on track to partially liberalize its gambling market beginning 1 July 2027, allowing licensed private operators to offer online gambling services and moving away from the current state-owned monopoly system.
The application process for licenses commenced in March 2026, and the National Police Board, the agency in charge of processing these applications, has started to announce approvals.
A regularly updated list of approved gambling licenses and the companies holding them has been compiled.
Currently, Finland operates a gambling monopoly dominated by state-owned Veikkaus, which controls all forms of gambling within the country. With the scheduled changes in July 2027, the online gambling sector will be open to competition from private operators, while Veikkaus will continue to have a monopoly on land-based gaming machines, lottery services, and scratch cards.
As the market opens, the National Police Board will transition regulatory oversight to a newly established entity known as the Supervisory Agency, which is in the process of being formed.
The liberalization of Finland's market presents a significant opportunity, especially given its high per-capita gambling rates. There is a broad political consensus in favor of this change, which contrasts starkly with increasing regulatory strictness and tax burdens in many European countries. Industry experts and operators have expressed optimism about the new regulatory framework.
Notable operators have ambitious plans for entering the market. For instance, the CEO of Wildz Group announced intentions to launch 11 different brands and seek additional licenses after obtaining their first in October.
Despite the current monopoly held by Veikkaus, there remains a substantial grey market in Finland, where operators can legally provide gambling services as long as they do not target Finnish customers directly.
According to H2 Gambling Capital data, Finland's estimated gross gaming revenue (GGR) will be €1.9 billion in 2026. Veikkaus reported a GGR of €931 million for 2025, a steep decline from €1.8 billion in 2017. The country's channelization rate, which reflects the proportion of regulated market participation, currently hovers around 50%, a stark decline from 90% a decade ago, contributing to the decision to liberalize iGaming.
As for B2B suppliers, operators will have the freedom to select service providers from the outset, provided they comply with the updated Gambling Act. However, starting 1 July 2028, a license from the Supervisory Agency will be mandatory for those wishing to supply B2B services to licensed Finnish operators. The window for B2B software license applications will open in July 2027.
Here’s the 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
