The National Police Board has confirmed that twelve companies have been issued licenses to participate in Finland's forthcoming online gambling market. This confirmation comes following an inquiry from iGB. While some firms, like Wildz Group and HipposATG, had previously publicized their licenses, this represents the first official acknowledgment from the regulator regarding the approvals in this eagerly awaited market launch.
On July 1, 2027, Finland plans to transition from its state-monopoly system to allow private operators in online gambling. The application process is currently ongoing, overseen by the National Police Board.
As of October 26, a total of 79 gambling license applications have been submitted, with 12 already approved and none rejected.
The licensed companies now positioned to launch online gaming operations include:
– Hippos ATG Oy
– Sunflower Gaming Limited
– Granturo Finland Ltd (part of the Wildz Group)
– Skill On Net Ltd
– SuomiVeto Oy
– Cloudberry Ent Limited
– SixthSpin Limited
– KuuFlip Limited
– RocketLily Ent Limited
– Nivei Ursi Limited
– YTBlue Limited
– Buccone Trading Limited
Significantly, Veikkaus, the current state monopoly, has yet to secure approval. Veikkaus has applied for a license to maintain its presence in the online gaming sector post-liberalization. Given its established brand and extensive customer database, Veikkaus is anticipated to hold a competitive edge in the new market. While it seeks to expand online, it will maintain its monopoly over lotteries, scratch cards, and land-based gaming machines in Finland.
Finnish operators eagerly await the market's opening, which marks a pivotal shift, making Finland one of the last European nations to abandon its monopoly system. With one of the highest per-capita gambling rates globally, the market is projected to reach a total estimated Gross Gaming Revenue (GGR) of €1.9 billion by 2026, with online platforms contributing approximately 81% of this figure.
The country is viewed as a mature market with an effective regulatory framework and a stable political environment, especially as other neighboring European markets face regulatory tightening and increased taxes.
