The National Police Board of Finland has confirmed that twelve companies have received approvals to operate in the country’s forthcoming online gambling market. This announcement was made following an information request by iGB and marks the first official confirmation from the regulator regarding the approvals in this exciting market opening.
Finland is gearing up to liberalize its previously state-controlled gambling regime, with private operators set to enter the market beginning July 1, 2027. The licensing process is currently underway, managed by the National Police Board.
As of October 26, the board reported that 79 applications for gambling licenses had been submitted, with twelve licenses approved and none rejected.
The newly licensed companies ready to embark on online gaming operations when the market launches include:
– Hippos ATG Oy
– Sunflower Gaming Limited
– Granturo Finland Ltd (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
Interestingly, Veikkaus, the current state monopoly, is not among the approved companies yet. Veikkaus has also submitted an application to continue competing in the online gambling market following the liberalization. Despite not yet being licensed, the company is anticipated to hold a competitive edge once the market launches due to its established brand and extensive customer database. Veikkaus will maintain its monopoly over lottery, scratchcards, and land-based gaming machines when the market opens, while online gambling will invite private competition.
The excitement surrounding this market opening is palpable, as Finland is one of the last European countries to move away from a monopoly model. The market, which boasts one of the highest per-capita gambling rates globally, is projected to have a total estimated gross gaming revenue (GGR) of €1.9 billion in 2026, with approximately 81% expected to come from online sources. This is indicative of Finland’s mature market, characterized by a generally favorable regulatory environment and strong political support for gambling, setting it apart from many European markets experiencing regulatory restrictions and tax increases.
