On July 1, 2027, Finland is set to partially liberalize its gambling market, allowing licensed private operators to offer online gambling services, thereby transitioning away from a state-owned monopoly framework. As part of this regulatory shift, the National Police Board, tasked with processing license applications, has begun to officially announce the approvals.
The licensing process opened in March 2026, and various companies have already received their licenses. A comprehensive list of approved Finnish gambling licenses, including details about the companies involved, has been compiled for reference.
Currently, Finland operates under a monopoly model in which Veikkaus, the state operator, holds exclusive rights to all gambling activities. Following the liberalization in July 2027, private operators will be permitted to compete in the online sector while Veikkaus will maintain its monopoly over physical gambling services, including land-based gaming machines and lottery products.
The regulatory oversight will transition from the National Police Board to a newly established authority called the Supervisory Agency, which is in the process of being set up to manage the new market.
Finland presents an attractive opportunity for market entry, boasting one of the highest per-capita gambling rates globally. There exists a consensus among political leaders advocating for the liberalization of online gambling, distinguishing Finland from other European nations facing tighter regulations and increased taxes. Industry analysts and operators have expressed optimism regarding the new regulatory framework.
Some major operators are preparing for the entry into the Finnish market. For instance, the CEO of Wildz Group revealed plans to launch eleven brands in the country and aims to apply for additional licenses following their initial approval in October.
Despite Veikkaus’s monopoly, a substantial grey market exists, as certain operators can legally offer gambling services, provided they do not actively market to Finnish citizens. Current estimates place Finland's total gross gaming revenue (GGR) for 2026 at €1.9 billion, with Veikkaus's projected GGR for 2025 at €931 million, a notable decline from €1.8 billion in 2017.
The channelization rate—reflecting the proportion of players interacting with licensed operators—is thought to be around 50%, a significant decline from approximately 90% a decade ago. This drop in channelization is influencing Finland's decision toward liberalizing its iGaming framework.
As for business-to-business (B2B) suppliers, operators will have the freedom to select their gambling service providers when the market opens. However, starting July 1, 2028, a license from the Supervisory Agency will be necessary for any entity supplying B2B services to licensed Finnish operators. The application period for B2B software licenses is set to commence in July 2027.
