Finland igaming licence applications attract stronger-than-expected interest
The number of Finnish igaming licence applications has reached 75 more than nine months ahead of market opening.
Key takeaways:
- Finland’s gambling market reforms are attracting stronger-than-expected operator interest, with licence applications rising from 50 in June to 75 by September 22
- Regulated igaming in Finland will launch on July 1 2027. Applicants must pay a €29,000 licence processing fee before the National Police Board begins assessment of their application.
- While the National Police Board is responsible for initial licensing, a dedicated gambling regulator will be created to supervise the market.
- The state monopoly operator Veikkaus is preparing for the transition, while debate about its ownership continues.
Finland.- The upcoming regulated market for igaming in Finland appears to be attracting strong interest with nine months still to go until launch. It’s been reported that the National Police Board had received 75 licence applications by September 22, up from the 50 reportedly submitted by June.
The number of reported applications has raised eyebrows given that Finland has a population of just 5.65 million. Janne Nikkinen, a researcher at the University of Helsinki, told Yle that earlier forecasts that suggested between 40 and 60 applications had widely been considered ambitious.
Finland’s igaming licensing process
Licensed igaming in Finland is due to launch on July 1 2027 under the oversight of the new Finnish Gambling Act. This will end the monopoly of state-owned Veikkaus over online gambling. Veikkaus will maintain a monopoly on lottery and land-based sports betting operations.
The Finnish igaming licence application process opened on March 1. Applicants must pay a processing fee of €29,000 ($33,500), with detailed assessments only beginning once the fee has been paid. The police board will be responsible for the initial licensing process before handing over to a new dedicated gambling regulator. According to local broadcaster Yle, no licences have yet been issued.
The National Police Board has stressed that “the reliability and suitability of applicants” will be evaluated based on submitted documents. Meanwhile, some industry figures continue to question some of the measures presented by the government for the new regulatory framework for online gambling in Finland. Some argue that the cooling-off period and ban on affiliates would harm market channelisation.
Questions remain over Veikkaus
Meanwhile, Veikkaus continues to reshape its own operations to prepare for new competition. It’s creating two subsidiaries. One will maintain a monopoly on the Finnish lottery and land-based betting activity, while the online business will compete with other operators. This independently managed online division is undergoing restructuring intended to strengthen its position against private-sector rivals. The operator is also expanding its international B2B offerings through its Fennica Gaming brand.
In August, it removed the deputy chief executive role while appointing Chris Armes as executive vice president of Gaming Technologies. The operator has also implemented a series of technology and operational upgrades. These include migrating its sportsbook platform from DraftKings technology to OpenBet.
The end of Veikkaus’ monopoly has also reignited debate over the company’s long-term ownership structure. Political parties and industry commentators have increasingly questioned what role the operator should play in a competitive environment. The SDP’s Mikkel Näkkäläjärvi has argued that the state should have no strategic interest in owning a gaming company”, while the populist Liike Nyt party has called for Veikkaus to be fully privatised and floated. The Left Alliance, Vänsterförbundet, is opposed to any sale of the gambling operator.
FAQs
How many gambling licence applications has Finland received so far?
A: The National Police Board had received 75 licence applications by 22 September, up from 50 applications recorded in June.
When will Finland’s new licensed gambling market begin?
Finland’s licensed gambling market is scheduled to launch on 1 July 2027, ending Veikkaus’ monopoly on the sector.
What is happening to Veikkaus ahead of market liberalisation?
Veikkaus has created two subsidiaries and is restructuring its online business to help it compete with private operators expected to enter the newly licensed market.
