What to know about Finland opening up licensed online gambling
State-backed gambling operator Veikkaus has long held a monopoly in Finland, but that’s set to change as the country transitions to a licensed online gambling and casino framework.
Veikkaus has been the sole operator for Finnish residents for many years, resulting in the nation missing out on a substantial amount of potential revenue that could come from taxing legal operators doing business within its borders. This is in large part due to the estimated €500 million that is spent by Finnish nationals on unlicensed offshore gambling operators. Whether or not those operators are made available domestically, the country’s citizenry has proven that it’s willing to find them.
Finland is now attempting to combat this by ending Veikkaus’ monopoly and allowing private licensed operators to enter the online market domestically, which will be regulated by a new state gambling authority.
What’s the latest on Finland’s free online gambling market regulations?
Two new draft regulations have been released which will guide online gambling operators as Finland gradually rolls out licenses for such providers. These operators will be required to comply with Random Number Generation testing, traceability, and document requirements. Finland seems to be aiming to make everything open and safe for its residents, a substantial improvement over its previous setup that limited legal options and left residents unprotected when betting abroad.
Private operators will also be required to submit to information security tests every two years, and these tests will check for system vulnerabilities, data protection issues, and game integrity. Operators will also pay a competitive 22% gross gaming revenue tax and an annual supervision fee for licensees that will be based on revenue. The validity of the licenses will be for up to five years, with an opportunity for renewal at that time.
Finland’s initiative will likely curb the money being spent on unlicensed overseas gambling operators, and the nation is far from the only country to be so interested. New Zealand is also trying to better regulate foreign interests, in its case through introducing new punitive taxes.
No matter the method, the aim is the same: to better protect residents, and to bring in more of the money being spent abroad.
Finland’s proposal for a free online gambling market
Operators already have some information regarding when they can apply for a license and when the private online gambling casino framework will be launched. The applications are expected to open in January 2026, with operations commencing in January 2027. Industry insiders are still debating whether the launch date can be met unless the state begins to make more meaningful progress in the near future.
With the new gambling framework, Veikkaus will go through a significant change, but the operator’s monopoly won’t end completely. Private operators will enter the online betting and online casino markets, but Veikkaus will retain control over lotteries, scratch cards, and land-based slot machines and casinos.
Veikkaus could eventually split into separate entities as part of this change and compete in the open market with other licensed online betting sites under a different brand name. The state’s residents are proven to have significant interest in online gambling, so more local option will likely benefit Finland in the long run.
The private gambling market will be regulated by a new authority that will be created by the Ministry of Finance. ID verification will be mandatory to better curb fraud and protect minors. Self-exclusion lists, deposit and loss limits, and behavior monitoring will also be part of the regulations. The new framework will additionally place restrictions on gambling advertisements by banning influencer campaigns and limiting mainstream advertising.
Operators violating these rules could face massive penalties, with the authority having the right to conduct audits when deemed necessary.
Feature image credit: Canva
Khizar Mundia has been playing video games for as long as he can recall. Things have come a long way since the many days he spent playing the original NES, though. He now covers a variety of competitive games and esports, as well as the world of streaming, ranging from Twitch to Kick. If it’s of interest to gamers, it’s of interest to Khizar.
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