Finland’s New Gambling Act Set to Open Market in 2027

Finland’s Parliament has voted overwhelmingly in favor of introducing the online gambling bill in 2026, with a vote of 156 to 9. The push to dismantle the Veikkaus-run state monopoly on gambling is nigh, and while this new Gambling Act awaits the final approval of the President, the writing is on the wall for Finland’s new gambling sector.

Already, the laws outline the B2B license process and give us insights into how Finland’s proposed liberalized gambling market will look, and we have a final deadline for when the revised Finnish online gambling sector will open. July 2027 is when the commercial market will officially launch. The time between then and now will prove pivotal, as operators will size up the pros and cons of entering Finland, secondary legislation is imminent to shape up the finer details of the gaming products they can offer, and Finnish gamblers will gradually feel the shift in momentum as Veikkaus prepares for the open market.

Finland’s New Gambling Act

The Government Proposal HE 16/2025 is the official proposal for Finland’s new Gambling Act, which will replace the current gambling monopoly regime. When taken to Parliament, the bill was met with strong support, with only 9 members voting against the bill, 32 members were absent, and an overwhelming 156 voted in favor. The state controlled gambling system, which has been operating for decades via three parties, but the Veikkaus-run regime, which is running today, was started in 2017 January 1. By 2027, it will have run for a decade, but talks were already held back in 2023 about exploring alternatives and potentially even introducing a licensing system instead of having a state run monopoly.

The first drafts for this legislation were made back in 2024, and in March of this year the first formal legislative effort was brought to Parliament. Finland has one of the last state run monopolies in Europe. The neighboring country of Norway still has a gambling monopoly, but Denmark and Sweden both reformed their state run monopolies in 2012 and 2019, respectively.

They provided Finland with the legislative models and precedents for their own new gambling reforms, and now those aspirations are finally being drafted into law.

What We Know About the Licensing Framework

The legislation confirms that Finland will have separate iGaming licenses for B2C operators and for B2B solutions providers. This is the norm across most European markets. Operators who offer online casino games or sports betting products will need to obtain local Finnish licenses and comply with the Finnish gambling authority. B2B suppliers, such as game developers who make slots, table games, live dealer games, and instant win titles, will have to obtain B2B provider licenses. They will need to work with the Finnish authorities to audit their titles, make them meet the RNG and fairness compliance conditions. Then, they can link up with B2C casino operators, who can then add the providers’ games on their platform and direct these to Finnish gamers.

Key elements of the framework to look out for include:

• Strict responsible gambling obligations, including player identification, loss controls, and self‑exclusion
• Mandatory KYC and AML checks for all players
• Marketing restrictions, particularly around inducements and advertising visibility
• Ongoing regulatory supervision by the national gambling authority

Online casino and sports betting operators can begin applying for licenses from March 1, 2026, and these will be handled by the Finland National Police Board until they are handed over to the Licensing and Supervision Agency in June, 2026. B2B suppliers can begin their license applications in July 2027, and these will become mandatory requirements by July of the following year.

Possible Secondary Legislation To Come

The authorities have left plenty of time between drafting the new Gambling Act and launching the open licensed gambling market, and for good reason. Reforming the framework of the iGaming sector also allows the Finnish gambling supervisors to iron out the fine details and reshape many gambling laws. For example, they may introduce limits on autoplay and bonus buy functions, maximum stake per game, and even enforce limits on the game speed. Germany has some of the strictest iGaming laws out there, with slot spins capped at €1, a minimum time of 5 seconds per spin, and autplay is strictly forbidden. These design elements of slots play are considered dangerous to player well being, and Germany is one of the best examples of stringent secondary laws on gaming products.

Finland may not take its secondary laws that far, but it has an opportunity to cut back on some of the features considered potentially harmful. The gambling rates per capita in Finland are quite high when compared with other European countries. An official gambling study back in 2023 estimated that 70% of Finnish people aged between 15 and 74 had gambled in 2023, and 4.2% had displayed problematic gambling behaviors.

The Finnish authorities will want to clamp down on these figures, and create a safer environment for locals to gamble in.

Veikkaus’s Ventures Outside the Monopoly

Veikkaus, the sole gambling distributor in Finland, has not taken the news lying down. It has been scaling its operations in the last few years, digging itself into a strong position ahead of the opening market. Veikkaus has partnered with numerous gambling software providers, enhancing its own game portfolio and creating a more advanced platform for Finnish gamers to play on. It has not stopped there either.

The Finnish powerhouse gaming company has also expanded its reach beyond Finland, to diversify income and gain experience operating in other markets. In 2022, the national lottery Veikkaus launched its B2B supplier arm, Fennica Gaming. The launch was made possible by the Finland new Lotteries act, which gave Veikkaus the green light to expand its business and focus on SaaS products and services.

Fennica Gaming

Fennica Gaming was never going to just be an in-house developer studio to boost Veikkaus’ portfolio. It is a fully respected, standalone studio that has created over 100 distinctive casino games, has partnered with numerous studios to bolster its offering, and Fennica Gaming has made important alliances around the world. Fennica Gaming secured a license in the UAE this year, and just recently partnered with Loto-Quebec to enter the Quebec iGaming market. For a company that was just launched back in 2022, Fennica Gaming has already expanded to 17 countries, has over 100 casino games, and is partnered with some of the biggest operators in the global market.

Could Veikkaus Be Publicly Listed

Yet the impending Finnish open gambling market has revived speculation about Veikkaus’ longterm ownership structure. Finland’s Director General of Ownership Steering, Maija Strandberg, revived the speculation about Veikkaus’ future when she said Veikkaus has been considered (among other state run companies) to be publicly listed on the stock exchange in the future. While it is not a formal plan or announcement of any kind, this is a rumour that has cropped up in the past, and it could be a way for Finland to invite investors to boost Veikkaus’ potential and lead it against its competitive peers from Europe.

But right now, as the laws stand, Veikkaus cannot be publicly listed. It can only become an option after the monopoly ends and the market opens to competition.

What Happens Next for Finland

Looking at the success of Denmark and Sweden, Finland is expected to be a hot market for operators. It has a wealthy market, a keen interest in gambling, and Finland will have an abundance of suitors looking to enter into its liberalized iGaming market. Of course, as we approach the 2027 deadline, formal legislation and secondary laws are expected to follow, and this could be quite a strict market with strong consumer protections.

By July 2027, Finland will join the growing list of European countries that have ditched monopolies in favor of regulated competition. The country has many precedents to factor in when constructing its licensing framework, and with no shortage of interest, all the big players (both operators and suppliers) will send in their license applications by mid next year. It will change the Finnish gambling landscape completely, and if Finland can emulate Sweden or Denmark, it could be on its way to building one of the most competitive and valuable iGaming markets in Europe.