Why Finland’s Online Gambling Market Is Set to Explode in 2027

Did you know Finnish players lose half of every euro they spend on online gambling to foreign casinos? This reality has sparked one of the most sweeping gambling reforms across the Nordic region. Finland is about to open up the market to new cross-border operators and end its gambling monopoly.

Despite many obstacles and delays, the schedule is now finally very clear. Private gambling businesses will be allowed to apply for licenses at the beginning of 2026. They can kick off their operations as of 2027.

The end of Finland’s gambling monopoly has drawn a lot of attention. To clear the matter, we will explain how the new licensing system works and the challenges that come with this new open market.

Why Finland Is Becoming A Key iGaming Market

Finland has one of Europe’s most active gambling markets with impressive participation rates. Additionally, the country ranks among the global top 5 for gambling per capita, which makes it an attractive market for operators worldwide. Today, online gambling generates 65% of the market’s gross gaming revenue, and 44% of Finnish adults use online platforms. Young players, on the other hand, especially prefer mobile-friendly experiences that offer quick results.

Finnish users spend more on iGaming than anyone else in Europe, and their annual spending tops €1.5 billion. Offshore gambling remains popular despite Veikkaus’ monopoly. About 15% of Finnish adults already use foreign gambling sites. Recent data shows 7% engaged in offshore online gambling, which means roughly 251,000 people look beyond the monopoly system.

Most Finnish players are males between 30-59, though this varies by platform. Casino games lead the online sector with 43% market share, while sports betting follows at 31%. Players also spend heavily, with average user spending reaching €1097.34 in 2025. Combined with internet penetration above 90%, Finland offers one of Northern Europe’s best iGaming opportunities.

How The New Licensing System Will Work

Finland’s government has created a clear plan to restructure parts of the Veikkaus monopoly. Private operators can submit their license applications in early 2026. The actual gambling services will launch on January 1, 2027. This change allows international companies to legally operate in Finland’s online gambling market for the first time.

Finland will introduce three different license types under the new system. Veikkaus keeps its exclusive license, which maintains its monopoly over money lotteries, scratch cards, physical slot machines, and land-based casinos for ten years. Private operators, such as the ones listed on Kasinokaverit.com, can obtain gambling game licenses for online casino games, sports betting, virtual betting, and online slots. Companies that develop and supply gaming software will need game software licenses.

The licenses will last up to five years, except for the exclusive one. This helps the regulatory framework adapt to market changes. Operators must have their base in the European Economic Area or appoint an EEA representative if they operate from elsewhere. This creates a controlled environment where operators and suppliers must check each other’s licensing status.

The reform aims to bring offshore gambling back into regulated channels while protecting players better. This licensing model shows how Finland balances market freedom with strict oversight.

Risks And Challenges In A Liberalized Market

Finland’s plan to open its online gambling market brings both serious public health concerns and economic opportunities. About 4.2% of Finns (approximately 151,000 people) show moderate-risk or problem gambling behaviors. The impact reaches far beyond the gamblers themselves and affects an estimated 733,000 friends and family members.

Young adults between 18-29 years show the highest rates at 6.9%. Health experts are concerned that this reform might prioritize gambling profits over harm prevention. Match-fixing has also become a growing concern as the National Sports Council warns that ending the state monopoly could weaken existing monitoring systems. However, as it stands now, it looks like it is the opposite.

The proposed regulations’ marketing restrictions might also drive players toward unlicensed operators. Experts believe that banning bonuses and traditional affiliate marketing would disadvantage licensed operators. If a ban on certain bonuses is imposed, the level of channelisation will certainly decrease. Licensed operators would then have no chance to compete with unlicensed operators who attract players with aggressive bonus offers.

This fragmented approach might make player protection measures less effective and work against the government’s goals to prevent gambling harm.

What Finland Can Learn From Other EU Markets

Without doubt, Finland can learn about this transition from other EU markets that moved from a monopoly to multi-license systems. Sweden and Denmark’s experiences are a great way to get insights about directing players to regulated platforms instead of offshore sites.

Finnish regulators should also think about adopting the European Gaming and Betting Association’s (EGBA) industry standards. These include responsible advertising codes, data protection protocols, and anti-money laundering guidelines. Success comes from building a framework that delivers strong and safe player protection while fostering a competitive market.