Finland’s gambling industry is on the brink of a significant transformation as the country moves to dismantle its long-standing online monopoly, opening doors for private operators in a regulated market.
Key Takeaways:
- Finland to end Veikkaus’ online gambling monopoly by 2027
- New licensing framework to allow private operators in sports betting and casino games
- Strict player protection measures and marketing restrictions to be implemented
The End of an Era
For years, Veikkaus, the state-owned gambling entity, has dominated Finland’s betting landscape. However, the tide is turning. In March 2025, the Finnish Parliament introduced a groundbreaking bill aimed at dismantling the online monopoly through a new licensing framework.
The reform outlines plans for private operators to enter the market, offering sports betting, digital slots, bingo, and casino games. Veikkaus will retain control over land-based lotteries and slot machines, but the online sphere is set for a major shake-up.
Timeline for Change
The proposed timeline is ambitious:
- Early 2026: License applications to be accepted
- January 2027: Licensed operators to commence operations
- 2028: B2B providers to enter the market
This shift comes as no surprise to industry observers. Veikkaus has been losing ground to foreign online operators, with estimates suggesting between €520–590 million was spent offshore in 2021 alone.
Player Protection at the Forefront
The new legislation doesn’t just open the market; it also introduces robust player protection measures. These include:
- Mandatory age checks
- Centralized self-exclusion systems
- Spending caps
- Identity verification
- Real-time monitoring
These safeguards aim to create a safer gambling environment while bringing Finland in line with global best practices.
Marketing Restrictions and Industry Concerns
The bill places significant restrictions on gambling advertising. Notably, it bans affiliate marketing, limits outdoor ads near schools, and prohibits influencer marketing. These measures have drawn criticism from industry bodies like Rahapeliala Ry, who warn they could inadvertently push players towards unregulated offshore sites.
The Rise of ‘No-Account’ Casinos
Finnish gamblers have embraced ‘no-account’ or Pay-N-Play casinos, which offer instant play and withdrawals through bank verification. A report by Business Insider Africa noted that Finnish casinos have pioneered features like frictionless bank authentication and real-time loss tracking, setting global standards in the process.
Looking Ahead
As Finland transitions from a century-old gambling monopoly to a regulated, multi-operator market, the global iGaming community is watching closely. The combination of Pay-N-Play technology and the upcoming licensing structure could position Finland as a leader in safe and seamless digital gambling.
While supporters argue the new framework will curb offshore losses and raise revenues, opponents, including Finland’s Social Affairs Committee, highlight potential risks. The effectiveness of the reform remains to be seen, but one thing is clear: Finland’s gambling landscape is set for a dramatic overhaul.
