On 20 March 2025, the Finnish government submitted a long-awaited bill to Parliament. It provides for the end of Veikkaus’s state monopoly and the creation of a competitive licensing system for online gambling operators. If Parliament approves the bill, applications for licenses will be accepted in early 2026, and approved operators will be able to start operations in 2027.
As the new market opens, international iGaming companies are closely scrutinising it and preparing to introduce innovations to consumers already familiar with their offerings formally.
Finland’s iGaming market reform goals
The volume of the gambling market in Finland as of 2025 is estimated at €2.4bn, mainly due to the development of the online segment – its share in the total GGR is about 65%, i.e., €1.56bn. According to the Finnish Competition and Consumer Authority, currently, 50% of all bets of Finnish residents are accepted by foreign operators. As such, proponents of gambling market reform, including Prime Minister Petteri Orpo’s government, are demanding control of foreign operators in accordance with Finnish law and taxation.
The new bill calls for the creation of a new regulatory body in 2026. Notably, if the reforms go through as planned, there will be no limit on players’ losses. The state will also be able to sell part of Veikkaus, retaining control of the company, which intends to retain the loyalty of the audience and partners.
Benefits for potential licence holders
In an analysis for SBC News, Georgi Iliev, compliance manager at Delasport, provided statistics on the Finnish online gambling market that reflect the outlook for the local iGaming ecosystem. Iliev believes that as offshore activity is regulated, the market’s GGR will grow through increased marketing activity and a wider range of licensed offerings.
In addition to regulation, the Finnish government’s key objectives include encouraging players to switch to licensed platforms. Based on the examples of market launches in Sweden and Denmark, Iliev predicts that Finnish GGR will grow to €2bn per annum if the white-label market share rises to 90%.
If the reforms are implemented effectively, Finland has a good chance of replicating the balanced transition examples of Sweden and Denmark. The proposed reforms will contribute to the sustainable growth of the iGaming market in the country and robust consumer protection in the context of healthy competition. International operators and investors are already interested in this market, predicting its high profitability and notable impact on the gambling landscape in Europe.
This article was first published in Russian on 14 April 2025.
