Finland Advances Gambling Market Reform
The Finnish government is proceeding with legislation that will end decades of state monopoly control over the country’s gambling sector. Under the new framework, private companies will be able to apply for licences to operate online casinos and sports betting services in Finland, with applications opening in January 2026 and licences taking effect from 2027.
The reform represents a major policy shift for Finland, which has maintained one of Europe’s last remaining gambling monopolies through state-owned operator Veikkaus. The multi-licence model will bring Finland in line with regulatory approaches adopted by Sweden, Denmark, and other European countries.
Regulatory Framework and Timeline
The government’s proposal outlines a structured implementation timeline. Private operators will be able to submit licence applications beginning in early 2026, with licensed operations permitted to commence from January 1, 2027. From 2028, only B2B-licensed suppliers will be allowed to operate within the Finnish gambling ecosystem.
Veikkaus will retain its monopoly exclusively over lottery games and physical slot machines in kiosks and casinos. The company’s operations in competitive markets will be separated into different entities within the same corporate group, reversing a 2017 merger that had consolidated various gambling operations.
The reform introduces annual reporting obligations for licensees, covering financial performance, marketing activity, and harm-prevention measures. Operators will be required to pay supervisory contributions calculated on gross gaming revenue to fund the new regulatory body on a sustainable basis.
Market Context and Veikkaus Performance
Veikkaus currently controls nearly half of Finland’s €970 million gambling market, but its market position has been eroding. The company reported revenues of €466.4 million in the first six months of 2025, down 3.6% year-on-year, with net profit falling nearly 10% to €229.6 million.
Around €505 million was gambled through foreign online providers in the first half of 2025, representing a 2% increase compared with the previous year. Nearly 61% of Veikkaus’ revenue came from online platforms, compared with 39% from physical outlets.
“We develop our competitiveness towards the multi-licence market. Everything we do at the moment aims at being ready when the market opens and being able to win in the new situation,” said Veikkaus CEO Olli Sarekoski in the company’s interim review.
Sarekoski described new investments in artificial intelligence and data systems to improve customer service and responsible gambling monitoring.
“We are preparing for the multi-licence market by building a new safety net model that strengthens an even more individual way of preventing gambling harms,” he said.
Consumer Protection Measures
The legislation includes consumer protection mechanisms such as a unified loss-tracking system and self-exclusion options that apply across all licensed platforms. Players will have the ability to set personal financial limits and impose temporary or permanent bans on their gambling activities. Operators will be required to proactively detect and address signs of problem gambling.
All gambling services will remain restricted to adults, with mandatory identity verification applied across the sector. The Ministry of the Interior stated the objective is to guide gambling into regulated channels and reduce gambling-related harm.
Constitutional Review and Industry Response
The Finnish Parliament’s Constitutional Committee has requested changes to the draft Gambling Act, citing unclear language and possible conflicts with constitutional rights. While the bill has broad political support, the committee indicated several sections leave too much open to interpretation.
The gambling sector has faced disputes during the reform process. Swedish betting firm ATG has raised competition concerns, with Antti Koivula, Chief Compliance Officer at Hippos ATG, stating the committee’s proposals “bring much-needed clarity to the marketing rules and help prevent any misinterpretation of what constitutes acceptable advertising.”
EU Considerations and Market Outlook
Malta has raised concerns with the European Commission regarding the compatibility of Finland’s licensing structure with the EU principle of freedom to provide services, resulting in an extended standstill period that has delayed adoption of implementing regulations.
Finland’s gambling market is anticipated to reach approximately €2.4 billion by 2025, with the online segment driving expansion. The Finnish Competition and Consumer Authority estimates that half of the money spent by players in Finland on online gambling currently flows to foreign companies.
Under the new model, state revenue from gambling will be collected through corporate tax and licensing fees, with Veikkaus continuing to pay dividends to the state and applying for exclusive licences for games it retains.
Source: Sigma World
