Finland’s Gambling Shift Sets Timeline for Licensed Market
Finland has completed the legislative process that reshapes its gambling market, formally approving a move away from monopoly control toward a regulated, licence-based system. The decision concludes a multi-year reform effort and establishes a clear timetable for opening online betting and casino operations to competition under state oversight.
Parliament approved the bill with a strong majority following amendments introduced during committee review. Proposals from opposition parties to impose stricter advertising restrictions and increase the minimum gambling age from 18 to 20 did not gain sufficient support and were rejected during the final stages. With parliamentary approval secured, the legislation now awaits formal confirmation by the Finnish president, which is expected before the end of the year.
The new framework will come into force in January 2026. From 1 March 2026, gambling operators will be able to submit licence applications, marking the first concrete entry point into Finland’s newly regulated market. Jari Vähänen of Finnish Gambling Consultants said the vote provides long-awaited clarity for companies following the reform process.
Consultation and parliamentary debate
Work on the reform began in July 2024, when the Ministry of the Interior prepared the initial iGaming proposal and launched a public consultation. Industry participants and other stakeholders provided feedback before the bill was formally introduced to parliament in March this year.
Minister of the Interior Mari Rantanen outlined the intent behind the proposal during its parliamentary consideration, stating: “The aim of the bill has been to find a regulatory solution in which the regulation combating gambling harms would be balanced with the fact that gambling companies want to apply for a licence and that online gambling would be directed to a regulated gaming offering.”
Although lawmakers broadly agreed on the need to modernise the gambling system, the bill progressed more slowly than initially anticipated. Constitutional questions and differences over implementation timing contributed to delays as the legislation moved through committee review.
Vähänen later explained: “The delay in the parliamentary process was primarily due to a few potential constitutional issues and disagreements over the timetable for the law’s implementation.” He added: “There was no significant political debate over the need to change the gambling system, but the parties’ views on the emphasis on responsible gambling and on business opportunities differed as expected.”
Industry prepares for market opening
Despite the extended legislative process, operators have continued preparing for the transition. Veikkaus has restructured parts of its organisation in anticipation of competition, including investments in personnel and the migration of its betting platform to OpenBet. Jarkko Nordlund, executive vice president for iCasino and sports betting, has stated that the company expects to retain a strong position once the market opens.
International operators have also closely followed developments. Joel Hakamies, general manager for Finland and Estonia at FDJ United/Kindred, described the overall direction of the reform positively, saying: “It’s looking fairly good for the big picture. Overall it’s been fairly positive from our view.” He also highlighted the importance of regulatory certainty, adding: “For our planning it would be better if the timeline was set in stone sooner rather than later. Uncertainty always blurs the horizon for investment.”
Structure of the new Gambling Act
Alongside the licensing framework, parliament approved a new Gambling Act that defines how competition will be introduced. Veikkaus will lose its exclusive rights to betting, online slot machines, and online casino games in summer 2027, while retaining control over lotteries, scratch cards, and land-based gambling activities. Licensed operators will be permitted to begin offering services from 1 July 2027.
Responsibility for supervising gambling activities will transfer from the National Police Board to a newly established Licensing and Supervisory Authority. Veikkaus Deputy CEO Velipekka Nummikoski said the reform addresses long-standing challenges in channeling play into the regulated system, stating: “The model we have been awaiting will improve the possibilities to channel gaming into legal offerings. Veikkaus has not, for a long time, had a genuine monopoly on gambling in Finland. According to various estimates, as much as 600–900 million euros is played annually outside the official system.”
With the legal framework now finalised, attention shifts from legislation to implementation as Finland prepares for the phased launch of its licensed gambling market.
Source:
Finland’s gambling shift sets timeline for licensed market, LCB.org, December 18th, 2025