Finland Gambling Liberalization Draws 75 License Applications Surpassing Prior 40-60 Projections

Finland’s liberalized gambling market is attracting stronger interest than officials projected. The National Police Board received 75 applications by September 22, up from 50 in June. Operators have submitted applications since March 1 ahead of the July 1, 2027 opening that ends the monopoly held by Veikkaus, as detailed in reporting by Yogonet International.

Previous estimates forecasted between 40 and 60 applications, numbers once deemed optimistic. Janne Nikkinen, a researcher at the University of Helsinki, told Yle. “Finland is attracting interest. After all, this is a billion-dollar pot that is being distributed here now,” Nikkinen said.

Application Review Process Remains Ongoing

The National Police Board has granted no licenses to date. Reviews continue. Each applicant must pay a processing fee of €29,000 ($33,500) for licenses valid in 2026 before substantive evaluation starts. The authority evaluates “the reliability and suitability of applicants based on submitted documents” through thorough vetting and stringent due diligence.

Liberalization was proposed in July 2024. The Ministry of the Interior compiled the initial iGaming bill, which parliament received in March last year and approved in December. The first licenses take effect July 1, 2027. The National Police Board will handle licensing and supervision until oversight passes to the newly established Finnish Supervisory Agency.

Veikkaus Prepares for Competition as Ownership Debate Emerges

Veikkaus has formed two subsidiaries and restructured its stand-alone online business to compete against new private operators. The monopoly’s end has prompted political parties to reassess the company’s future ownership and role.

SDP Party Secretary Mikkel Näkkäläjärvi said that “the state has in this situation no particular strategic interest in owning a gaming company.” He added that any sale decision would largely depend on whether the proceeds could be better used for economic or public benefit. Populist party Liike Nyt advocates full privatization and stock market listing. The Left Alliance is the only party opposing any sale.

The volume of applications relative to population size underscores the market’s draw. Operators that clear the vetting process will enter a restructured sector where the former monopolist has already begun defensive moves.

Reporting: Yogonet International

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