Gambling operators are already lining up for Finland’s new licensed online market in droves. Nearly 50 applications have landed at the National Police Board, although operators still have more than a year to wait before official kick-off.
Finland’s competitive online gambling market is gearing up for launch come July 1, 2027. But interestingly, you wouldn’t know it from the activity at the National Police Board. Nearly 50 license applications have already been submitted since the process began on March 1. By March 30, the regulator had received only 24. This number has almost doubled in a matter of months and reached the range industry observers projected to see after the market was up and running.
That’s a lot of early interest for a country with a population of around 5.6 million people. Moreover, given that most of the applications come from foreign companies, Senior Adviser Juha Katainen said that the review process is more complicated as background checks will get more tedious.
Technically, interested operators aren’t facing a defined application deadline as Finland is accepting submissions on a rolling basis. In practice, however, waiting carries a risk. The National Police Board expects each application to take around six months to process, and more complicated cases could take longer.
Applicants must also pay a €29,000 ($33,500) processing fee before officials begin the full assessment. Regulators will check company records, certificates, financial reports and other documents to decide whether a business is reliable and suitable to hold a licence. Financial links to other companies may also be examined, especially where they could create money-laundering or funding concerns.
Finland’s iGaming reforms will allow licensed private companies to offer sports betting, online casino games, slots and online bingo, where operators will pay a 22% tax on gross gaming revenue. While these new regulations will end Veikkaus’ monopoly over online betting and casino gaming, the state-owned company isn’t disappearing from the picture. It will still retain exclusive rights over Lotto, Eurojackpot and physical gaming machines.
So, after years of being the only legal option within state lines, it will soon have to compete for internet gamblers alongside international brands. Licensing and supervision will remain with the National Police Board until the end of June 2027. Meanwhile, the newly mandated Finnish Supervisory Agency will take over when the market opens the following month.
Not necessarily, as one company may apply for more than one type of licence. LeoVegas, for example, has confirmed that it submitted two applications. The final number of separate operators could therefore be lower than the application count suggests.
An earlier industry estimate suggested Finland would attract anything between 40 and 50 licensees after launch. But then, that range has already been reached more than a year early. Antti Koivula, the chief compliance officer at Hippos ATG, has even questioned whether the market could potentially become overcrowded.
There’s plenty of interest, but some important details are yet to be settled. Operators are still looking for clearer guidance on bonuses, advertising, permitted media, duty-of-care requirements and player protection.
That’s what will shape how companies promote themselves, attract customers and monitor gambling behaviour once they enter the market. For now, operators can pay their fees, prepare their systems and get their applications in order.
Blackjack
Slots
Roulette
Baccarat
Craps
Poker
