Finland's iGaming Licence Applications Surge with 24 Operators

Finland’s gambling landscape is set for a significant transformation as the country moves toward a regulated, multi-licence system. The application process for iGaming licences was officially opened on March 1, 2026, and already, 24 operators have thrown their hats into the ring, eager to establish a presence ahead of the market’s official launch in July 2027. This shift will replace the decades-long monopoly previously held by Veikkaus, which has dominated Finland’s gambling scene.

A New Era for Finland’s Gambling Industry

The transition to a multi-licence framework follows the passage of new legislation in December 2025, signaling the end of Veikkaus' exclusive control. Although the names of all the applicants have not been disclosed, some companies have been publicly identified. One notable applicant is Hippos ATG Oy, which has applied to provide a wide range of services, including sports betting, online casino offerings, and horse racing.

The review process for these applications is expected to take between three and six months, with licences being granted only once the new system officially takes effect. While Finland is witnessing a rush of applications, some operators have held off on submitting their requests, awaiting further clarification on key regulatory aspects such as advertising rules and responsible gambling requirements. These elements are anticipated to heavily influence the timing and costs for market entry.

Regulatory Environment and Market Potential

The regulation of Finland's gambling market has been a topic of much anticipation. Despite the impending transition, some companies remain cautious, taking time to understand the country’s specific requirements and the potential costs involved. According to industry insiders, Finland's relatively small size could limit the number of operators entering the market. However, the early interest from private European firms points to optimism surrounding the long-term prospects of Finland’s reformed gambling sector.

Jarkko Nordlund, Head of iCasino and Sportsbook at Veikkaus, expressed his confidence in the broader potential of the market, noting that the country’s openness to operators of all sizes would foster a healthy competitive environment. Nordlund also acknowledged the resilience and experience of international operators who are accustomed to working within stricter regulations across different jurisdictions.

Strong Demand Fuels Market Optimism

Operator interest is also fueled by Finland’s high level of public participation in gambling. It is estimated that approximately 70% of Finland’s population engages in some form of gambling every year, creating a solid customer base for operators to tap into. This widespread participation supports the notion that competition will be fierce in areas like online casinos, sports betting, and lotteries.

Market analysts predict that Finland’s gross gaming revenue will reach approximately €1.9 billion in 2026, with €1.1 billion of that coming from gaming activities, primarily online. Of this, it is expected that 81% will come through digital channels, underscoring the growing importance of online platforms within the sector.

Legal experts believe that the number of licence holders will eventually rise to between 40 and 50 by the time the market matures. The move to a more open and competitive environment has been widely welcomed, with many viewing it as a much-needed change to Finland’s gambling landscape.

The Road Ahead

As the application process continues, Finland finds itself at a pivotal moment. With 24 operators already in line, the country is poised to undergo one of the most significant shifts in its gambling history. However, the final shape of the market will depend on how quickly the regulatory framework can be refined and implemented. For now, the 24 early applicants represent a diverse group of operators eager to capitalize on what is expected to be a lucrative and competitive market in the coming years.

Source:

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