Finland attracts 75 applicants for new gambling market
Interest in Finland’s new regulated online gambling market is running ahead of expectations, with 75 licence applications already lodged ahead of the end of the country’s long-standing monopoly model.
Finland’s National Police Board had received 75 applications by September 22, up from 50 in June, but there are yet to be any licences granted.
The strong early interest comes nine months before Finland is scheduled to open its competitive online gambling market on July 1, 2027.
The new system will end state-owned Veikkaus’s monopoly over online casino and betting and allow private operators to compete for Finnish players under local licences.
Applications opened on March 1.
Following applications opening on March 1, National Police Board senior adviser Sanna Kuusela said 24 applications arrived during March and another 23 in May.
There is no fixed limit on the number of operators that can be licensed, meaning companies meeting Finland’s regulatory requirements do not have to compete for a finite number of licences.
The 75 applications also don’t necessarily represent 75 separate gambling companies because businesses can submit applications in different licence categories.
However, the level of interest has exceeded earlier estimates. University of Helsinki researcher Janne Nikkinen said previous expectations had generally been for between 40 and 60 licences.
“Finland is attracting interest. After all, this is a billion-dollar pot that is being distributed here now,” Nikkinen said.
Veikkaus and Unibet are among the operators known to have applied.
Under the new system, competitive licences will cover online casino games, online slots, online cash bingo, fixed-odds betting, variable-odds betting and virtual betting.
Veikkaus will retain exclusive rights over products including lotteries, scratch cards, physical slot machines and land-based casino games.
The National Police Board currently estimates licence applications will take around six to eight months to process.
Responsibility for licensing and supervision will then transfer to Finland’s new supervisory authority when the competitive market opens on July 1.
Casino and betting software suppliers will also enter a licensing regime, although applications for supplier licences don’t begin until July 2027.
The reform represents one of Europe’s most significant gambling market openings in recent years and follows a familiar Nordic pattern.
Sweden abandoned its previous monopoly-style online model and introduced competitive licensing in 2019, while Denmark has operated a licensed online betting and casino market since 2012.
