Finland’s Gambling Market Attracts 24 iGaming Licence Applicants

Finland is undergoing a major shift in its gambling sector, as the country prepares to transition from the long-standing Veikkaus monopoly to a new multi-licence system. The application process, which began on March 1, 2026, has already seen 24 operators submit their requests to operate in the regulated market, set to launch in July 2027. This change marks a new chapter in Finland’s gambling landscape.

Finland’s Move to a Multi-Licence System

With the passage of legislation in December 2025, Finland has begun its transition to a more competitive and open gambling market. Veikkaus’ exclusive control is coming to an end, and the new system will allow for multiple licence holders across various sectors, including online casinos, sports betting, and lotteries. Some early applicants, such as Hippos ATG Oy, have already applied to offer a range of services. However, the approval process for these applications will take several months.

Regulatory Challenges and Market Entry

Although 24 operators have already applied, some are waiting for more details regarding Finland’s advertising and responsible gambling rules. These regulations are expected to play a significant role in determining when and how operators enter the market. The country’s relatively small size has raised concerns about market saturation, but there remains strong interest from European operators eager to capitalize on the opportunity.

Finland’s Gambling Culture and Market Demand

The high participation rate in gambling is another factor driving interest in Finland’s market. Approximately 70% of Finland’s population engages in some form of gambling each year, providing a solid customer base for new operators. The expectation is that the newly regulated market will create strong competition across multiple segments, including sports betting and online casinos.

Projections indicate that Finland’s gambling revenue could reach €1.9 billion by 2026, with a significant portion coming from online gambling. Analysts predict that 81% of the revenue will be generated through online channels, highlighting the importance of digital platforms in the future of Finland’s gambling industry.

Bright Prospects for a Competitive Market

The new multi-licence system is expected to lead to an increase in the number of operators in Finland’s gambling market. Experts predict that the number of licence holders could eventually rise to between 40 and 50 by the time the market fully matures. This reform is seen as a long-awaited and necessary step for Finland’s gambling sector, which is now poised for a more competitive and dynamic future.

Source:

Finland Sees Early Rush For iGaming Licences, lcb.org, April 8th, 2026