In Finland's shifting online gambling landscape, some operators stand ready to enter the regulated market with a significant advantage, while others begin without any customers. This disparity was highlighted during a panel discussion at the SBC Summit in Lisbon, featuring Antti Koivula, the chief compliance officer at Hippos ATG, alongside representatives from Paf, Betsson Europe, Finnplay, and NordPlay Group.
Koivula emphasized that operators holding licenses from the Malta Gaming Authority (MGA) will likely bring along their existing Finnish clientele, leading to a substantial difference in data available to competing firms. He noted that Veikkaus, the state-owned operator, boasts more than 2.7 million customers, allowing it to leverage those who have engaged in sports betting and casino gaming, a number he anticipates will exceed 2 million. Other major players may also have customer bases exceeding 1 million, while several have six-figure totals, leaving a handful of operators, like Hippos ATG, to start from zero.
"There was some discussion of whether the playing field is genuinely level," Koivula stated. "But there’s no point crying about it: it has been decided and everyone will have to live with it."
The process for operators to apply for licenses ahead of the market launch in July 2027 has finally opened. For Koivula, a veteran lobbyist against the gambling monopoly, this development comes remarkably late. "It’s about time it happened," he declared, adding that he believes the change should have occurred 10 to 15 years ago. He pinpointed 2017 as a crucial moment, when the merger of Finland's three state-owned operators into Veikkaus signaled a decline in channelisation rates.
Since that merger, Veikkaus's gross gaming revenue has fallen about 45% from its previous range of €1.7 to 1.8 billion, with corresponding drops in state payments. When asked what prompted the government to take action, Koivula simply replied, "Money."
While he has confidence that licenses will be issued on schedule, Koivula harbors concerns about the new supervisory authority, which will come into effect on July 1, 2027. Currently in the process of hiring a director set to start on January 1, the authority will have just six months to prepare for its supervisory role. "Personally, I’m rather concerned about whether they’ll be operational de facto from day one," Koivula commented. "De jure, legally, they will be; there’s no doubt about that."
He anticipates that the authority may struggle initially, particularly in terms of providing guidance or managing the black market. Notably, he referenced findings suggesting that Finland's regulatory body will be staffed at less than half the level of its Danish counterpart, despite both countries being of similar size.
The potential for the Finnish market is enticing, largely due to the current gambling expenditures. Koivula remarked, "The Finnish market is really lucrative: per capita GGR is high and there’s a lot of potential."
This appetite for gambling is historically ingrained in Finnish culture, with slots and betting opportunities prevalent in everyday locations like grocery stores.
Even as discussions about a partial sale of Veikkaus intensify, Koivula believes any major changes in ownership won’t happen before 2030. This delay means that the incumbent will enter the competitive landscape with the backing of the state and a significant lead in customer numbers, likely exceeding 2 million.
For operators starting from scratch, the countdown to July 2027 has officially begun. The readiness of the regulator to support them remains an open question.
