Finland's initiative to liberalize its gambling market has sparked unexpectedly high interest, with the National Police Board reporting a surge in licence applications ahead of the 2027 market launch.
As of September 22, the National Police Board had received 75 applications, sharply up from 50 in June, according to reports from Finnish national broadcaster Yle. Each applicant must pay a processing fee of €29,000 ($33,500), a prerequisite for the licence review process for permits that will become valid in 2026.
Applications began on March 1 as Finland prepares to shift from Veikkaus, the existing gambling monopoly, to a new licensed market expected to launch on July 1, 2027. Currently, no licences have been issued as the application review process is still ongoing.
The National Police Board has stressed the thorough evaluation method, stating that “the reliability and suitability of applicants are evaluated based on submitted documents,” reflecting the careful due diligence required for market entry.
Industry experts highlight the impressive number of applications given Finland's population size. Janne Nikkinen, a researcher at the University of Helsinki, shared with Yle that earlier projections expected between 40 and 60 applications, which were seen as optimistic at the time. He noted, “Finland is attracting interest. After all, this is a billion-dollar pot that is being distributed here now.”
The plans for market liberalization first surfaced in July 2024, initiated by an iGaming bill from the Ministry of the Interior. This bill was introduced in parliament in March of the previous year and approved in December.
Veikkaus, facing the end of its monopoly, has established two subsidiaries as part of a restructuring effort aimed at positioning itself competitively against new private operators entering the licensed market.
The loss of Veikkaus' monopoly is prompting political discussions on its future ownership and operational role. Mikkel Näkkäläjärvi, Secretary of the SDP Party, noted that “the state has in this situation no particular strategic interest in owning a gaming company,” indicating that the decision on any potential sale would hinge on the economic or public benefits derived from it.
The populist Liike Nyt party has called for the complete privatization of Veikkaus and its listing on the stock market, while the Left Alliance (Vänsterförbundet) remains opposed to the sale.
The first licences under the new gambling regime will take effect on July 1, 2027. Until then, the National Police Board will continue its role as the licensing and supervisory authority. Post-2027, the newly established Finnish Supervisory Agency will take over regulatory duties in the newly opened market.
