The National Police Board has confirmed the approval of 12 companies to operate within Finland’s forthcoming online gambling sector, following an information request from iGB. While firms like Wildz Group and HipposATG previously announced their licenses, this marks the first official acknowledgment of these approvals by the regulator, which is preparing for the market's anticipated opening.
Finland is set to shift away from its state monopoly on gambling, allowing private operators to enter the market starting July 1, 2027. The licensing process, currently in progress, is being managed by the National Police Board.
As of October 26, the board reported that 79 gambling license applications have been filed, with 12 being granted thus far and none rejected. The companies awarded licenses to commence online gaming operations once the market opens 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
Prominent names like Veikkaus are still awaiting updates on their applications. The existing state monopoly, Veikkaus, submitted a request to retain its competitive stance in the online gambling arena once it is liberalized. Veikkaus is anticipated to hold a competitive edge, benefitting from its established brand and a substantial customer database. When the market eventually opens, Veikkaus will continue to monopolize lottery operations, scratch cards, and land-based gaming machines, while online gambling will be open to private entities.
Finland's decision to move away from the monopoly model has generated significant interest among operators. Known for having one of the highest per-capita gambling rates globally, Finland's market is projected to achieve a gross gaming revenue (GGR) of €1.9 billion in 2026, with online gambling contributing an estimated 81% of that total.
Seen as a stable and mature market with a generally favorable regulatory environment, Finland stands in contrast to various European nations currently tightening regulations and increasing taxes on gambling activities.
