The National Police Board of Finland has confirmed that 12 companies have been granted licenses to operate in the country's online gambling market, as highlighted in a recent information request from iGB. This announcement marks the first official validation from the regulator regarding the license approvals as Finland prepares for the highly anticipated opening of its market.
Finland is transitioning from a state monopoly on gambling, set to allow private operators to enter the online gambling sector starting 1 July 2027. The application process for licenses is currently underway, managed by the National Police Board.
As of 26 October, the National Police Board reported that 79 applications for gambling licenses have been filed, with 12 approvals granted and none rejected so far.
The following companies have successfully obtained licenses to operate in Finland's online gaming market upon its opening:
1. Hippos ATG Oy
2. Sunflower Gaming Limited
3. Granturo Finland Ltd (part of Wildz Group)
4. Skill On Net Ltd
5. SuomiVeto Oy
6. Cloudberry Ent Limited
7. SixthSpin Limited
8. KuuFlip Limited
9. RocketLily Ent Limited
10. Nivei Ursi Limited
11. YTBlue Limited
12. Buccone Trading Limited
In a notable development, Veikkaus, the existing state monopoly, has yet to receive its approval despite applying to remain competitive in the online gaming landscape after liberalization. Veikkaus is anticipated to leverage its established brand recognition and extensive customer database once the market opens.
Despite the changes, Veikkaus will maintain its monopoly over lottery offerings, scratch cards, and land-based gaming machines, while online gambling will face new private market competition.
The anticipation surrounding Finland’s market opening is significant, making it one of the last European nations to dismantle its monopoly model. The country, which has one of the highest gambling participation rates in the world, is projected to achieve a total estimated gross gaming revenue of €1.9 billion by 2026, with about 81% of this amount expected to derive from online gambling. Finland is recognized as a mature market with a consistent regulatory framework, and it enjoys a stable political backing for gambling activities. This contrasts with many other European markets currently facing regulatory constraints and heightened taxation.
