Finland Receives 50 iGaming Licence Applications Ahead of 2027 Launch

Fifty iGaming Licence Applications Submitted in Finland – Market Liberalisation Advances Toward 2027 Launch

Key Takeaways

• Around 50 gambling operators have submitted licence applications to Finland’s National Police Board.
• The majority of applicants are foreign companies, increasing the complexity of the review process.
• Each applicant must pay a processing fee of 29,000 euros before substantive evaluation begins.
• The first licences under the new framework will take effect on 1 July 2027.
• Regulatory oversight will shift to a newly established Finnish Supervisory Agency after July 2027.

Application Numbers Double Ahead of Market Opening

Finland’s transition from a monopoly model to a liberalised online gambling market has reached a new milestone. Around 50 gambling operators have submitted licence applications to the National Police Board since the country launched its new regulatory regime earlier this year. The update was confirmed by the regulator’s Gambling Administration.

Just a few months earlier, by 30 March, 24 operators had filed applications following a freedom of information request. The total has now doubled, reaching a level that industry sources had previously estimated would reflect the number of licences once the market goes live.

Finland plans to open its liberalised iGaming market in 2027, ending Veikkaus’ exclusive rights over online betting and gaming. The first licences granted under the new framework will become effective on 1 July 2027.

Foreign Operators Dominate the Applicant Pool

According to the National Police Board, most applicants so far are international or foreign gambling companies. Juha Katainen, senior advisor at the regulator, said the predominance of foreign applicants increases the complexity of processing and evaluating submissions.

The review process places significant emphasis on the reliability and suitability of each applicant. Operators must provide corporate register extracts, certificates, and various reports as part of their documentation. The authority also examines the financial positions of affiliated companies when these may affect the financing of operations.

This vetting process is designed to ensure regulatory compliance and to mitigate risks such as money laundering. For operators considering entry into the Finnish market, the documentation burden and scrutiny of corporate structures form a central part of the application stage.

Fees and Processing Timeline

Each applicant must pay a processing fee of 29,000 euros for licences valid in 2026. Substantive evaluation of an application begins only after this fee has been settled.

Finland’s licensing window does not impose a fixed deadline for submission. However, the National Police Board has stated that it aims to process applications within approximately six months. Officials have urged applicants to avoid frequent status enquiries, as these can divert resources away from core evaluation work.

The regulator has indicated that it will publish updates on average processing times on its official website as more information becomes available.

Open Questions Around Market Rules

Finland’s iGaming bill passed in January, formally setting the framework for the shift away from the Veikkaus monopoly. However, some stakeholders have pointed to gaps in the legislation that leave operational details unclear.

Jarkko Nordlund, head of icasino and sportsbook at Veikkaus, recently highlighted the need for clarification on specific issues. These include definitions related to bonusing, permitted advertising, approved media channels, duty of care obligations, and player protection requirements.

According to Nordlund, while there is broad support for a licensed market model, operators are seeking more detailed guidance on how the law will be applied in practice. For international companies preparing applications, clarity on these points may influence product configuration, marketing strategies, and compliance planning.

Market Size and Saturation Concerns

When industry sources were consulted earlier this year, estimates suggested that between 40 and 50 licences could be granted once the market becomes operational. With around 50 applications already submitted more than a year before launch, that projected range has effectively been reached.

Antti Koivula, chief compliance officer at Hippos ATG, has raised concerns about potential market saturation, noting that Finland is a relatively small country in terms of population. The number of active licensees will ultimately depend on how many applications are approved after regulatory review.

In parallel with the liberalisation process, discussion has emerged regarding a possible sale of Veikkaus. In an interview with the state radio broadcaster, industry consultant Jari Vähänen valued the gaming group at 4.5 billion euros, including its lottery and physical slot machine business.

Regulatory Transition in 2027

Until 1 July 2027, the National Police Board will remain the licensing and supervisory authority. After that date, oversight of the liberalised market will transition to a newly established Finnish Supervisory Agency.

This phased approach separates the initial licensing process from long term supervision under the new market structure. For operators and users alike, the change marks the formal end of the monopoly era and the beginning of a multi licence system.

Our Assessment

Finland’s receipt of around 50 licence applications demonstrates strong operator interest ahead of the planned 2027 market opening. The predominance of foreign applicants and the regulator’s focus on financial and corporate scrutiny indicate a detailed compliance process. With licence numbers already matching earlier market estimates, the final composition of approved operators will shape the competitive landscape when the liberalised system takes effect in July 2027.