The National Police Board of Finland has confirmed that 12 companies have been granted licenses to operate in the upcoming online gambling market. This announcement follows an information request by iGB, marking the first official recognition of these approvals amidst high anticipation for the market's launch.
Finland is transitioning from a state-run monopoly to a liberalized gambling framework, set to take effect on July 1, 2027. The licensing application process is currently ongoing, managed by the National Police Board.
As of October 26, the Board reported receiving 79 gambling license applications, approving 12 so far, without any rejections thus far.
The companies awarded licenses to commence online gaming operations include:
– Hippos ATG Oy
– Sunflower Gaming Limited
– Granturo Finland Ltd (Wildz Group)
– Skill On Net Ltd
– SuomiVeto Oy
– Cloudberry Entertainment Limited
– SixthSpin Limited
– KuuFlip Limited
– RocketLily Entertainment Limited
– Nivei Ursi Limited
– YTBlue Limited
– Buccone Trading Limited
Notably, Veikkaus, the existing state monopoly, is absent from the initial list, having also applied for a license to remain competitive in the evolving online market.
Veikkaus is anticipated to have a competitive edge due to its established brand and a vast customer database. The company will retain its monopoly rights over lottery services, scratch cards, and land-based gaming machines even as online gambling opens up to more private entities.
The upcoming market liberalization has sparked considerable interest among operators, marking Finland as one of the last European countries to abandon its monopoly model. With one of the world's highest per-capita gambling rates, the estimated gross gaming revenue (GGR) is projected to reach €1.9 billion in 2026, with approximately 81% of this revenue expected to stem from online sources. Finland’s gambling market has been characterized by a supportive regulatory environment and a stable political framework, contrasting with tightening regulations and tax increases seen in other parts of Europe.
