Finland Is Opening Up Its Gambling Market, But Will It Work?

For years, gambling in Finland has followed a very clear rule: the house always wins — especially when the house is the government. But that’s about to change.

After decades of maintaining a strict monopoly through its state-owned operator Veikkaus, Finland is getting ready to open its doors to outside gambling companies. The move is being called one of the most significant shakeups in the country’s gambling laws in recent history. So what’s driving the change — and what will it mean for players, companies, and society?

Let’s take a closer look.

Why Finland’s Gambling System Needs an Update

The idea behind Finland’s monopoly system was simple: control gambling through a single operator and use the profits to fund public welfare projects. In practice, that operator has been Veikkaus, which was formed in 2017 by merging Finland’s previous gambling organizations. Since then, it has managed everything from lotteries to sports betting, slot machines, and even casino games.

But the world has changed, and Finnish online casinos have changed with it.

A growing number of players now prefer online gambling over physical machines or betting shops. And many of those players aren’t using Veikkaus at all. Instead, they’re turning to offshore online casinos that aren’t regulated by Finnish law, and don’t pay taxes in Finland either.

Studies show that Finns spend over half a billion euros each year on international gambling sites. That’s a huge chunk of money leaving the country, and it’s becoming harder and harder for Veikkaus to keep up.

At the same time, concerns about gambling-related harm are rising. One study found that just 2.2% of players account for over 50% of Veikkaus’ total revenue. That’s a red flag for addiction, and it raises tough questions about whether the system is really protecting players or just profiting from their losses.

The Government’s Plan: Regulation Over Prohibition

In response, the Finnish government is preparing to overhaul the Lotteries Act and shift to a licensing model for online gambling. Under the proposed reform, Veikkaus will keep its monopoly on things like the national lottery, physical slot machines, and land-based casinos. But online gambling, including betting, slots, and virtual casino games, will open up to competition.

That means private companies, both domestic and international, will be able to apply for licenses to operate legally in Finland. If all goes according to plan, the new system will take effect in 2026, with licensed operators launching in 2027.

The new framework will be tightly regulated. Licensed operators will have to meet high standards for player safety, technical security, and responsible marketing. The government will also create a dedicated supervisory authority to oversee the entire system.

In other words, this isn’t a free-for-all. It’s a carefully planned shift toward a more open—but still controlled—gambling environment.

What This Means for Players

For everyday players, this could be a game-changer. Right now, Finnish online casino enjoyers who prefer international sites are operating in a legal gray area. There are many trustworthy affiliate sites, such as Kantacasino, which offer a variety of great online casinos available for Finnish casino players. They may get access to better odds or more exciting games, but they’re also taking risks: no consumer protection, no guarantees, and no official support if things go wrong.

With a licensed system, players will be able to enjoy more options without having to worry about whether the site is trustworthy. They’ll know that licensed companies must follow strict rules, provide tools for self-exclusion and deposit limits, and offer real-time help if gambling starts to become a problem.

Of course, some restrictions will remain. The new law bans aggressive advertising tactics, influencer partnerships, and flashy welcome bonuses. Ads will have to be moderate, targeted to adults, and kept away from public spaces like schools or health centers.

But the upside is clear: players will have more choice — and more protection.

Why This Is a Big Deal for Operators

From the business side, the Finnish online casino market is finally becoming accessible in a meaningful way. Right now, many companies technically accept Finnish players but operate from abroad, without local licenses. That means they’re always at risk of enforcement actions or payment blocking measures.

With the licensing system, companies can finally go legit. They’ll be able to advertise (within limits), work with local affiliates (potentially), and build relationships with Finnish players without skirting the rules. It is not certain how online affiliate partnerships will be accepted by Veikkaus.

The licensing process won’t be easy. Companies will need to pay licensing fees, adhere to Finnish tax laws, and implement robust responsible gambling tools. But for those willing to invest, the rewards could be substantial.

Analysts expect dozens of companies to apply for licenses, especially in the online slots and sports betting sectors. And if Finland follows in Sweden’s footsteps, as many believe it will, the market could become one of the most attractive in Northern Europe.

What’s at Stake for Veikkaus?

Veikkaus, for its part, isn’t being kicked out. It will continue to run the lottery and operate physical gaming locations. And it can even compete in the online space, just like any other operator, as long as it plays by the new rules.

That said, Veikkaus knows it will have to fight harder to keep its market share. The company has already begun to restructure, cut costs, and invest more heavily in digital services. It’s also pushing for strong consumer protections, perhaps hoping that a safer market will also be one where it can lead in reputation.

But make no mistake: the days of Veikkaus as the only game in town are ending. And for many players, that’s a welcome change.

A Delicate Balancing Act

Not everyone is celebrating the reform. Some advocacy groups worry that opening the market will increase gambling harm, even with new safeguards in place. Others argue that Veikkaus still enjoys unfair advantages, like its massive slot machine network spread across everyday locations.

The government insists it’s walking a fine line: opening the market enough to reduce illegal gambling and reclaim lost tax revenue, while keeping tight control to protect public health. Early drafts of the law have gone through EU review, and public consultations are still ongoing.

If things stay on schedule, the law will be passed in 2026 and the first licenses issued in early 2027. It’s a slow process — but a deliberate one.

A Sign of the Times

Finland isn’t the first country to rethink its gambling system, and it won’t be the last. Countries across Europe are grappling with the same challenge: how to modernize gambling laws for the digital age while still safeguarding players.

Done right, Finland’s new system could become a model, showing how a small country can open up its market without losing control.

Overall, this reform can be seen as more than just a legal shift. It’s a chance for Finland to build a smarter, safer gambling culture. One where players have choices, companies are accountable, and the system works for everyone, not just the house.