Finland will move from a gambling monopoly to a licensing system for online gambling on 1 July 2027, with Veikkaus supporting the change as a way to improve player protection and bring more activity into the regulated market.
The state-owned operator will retain its monopoly over lottery and land-based gaming, while licensed commercial operators will be able to compete in iGaming. The transition comes as offshore activity has become a major challenge for Finland’s existing model.
More than half of gaming volume outside regulation
The National Police Board of Finland, Poliisi, said in June that its gambling administration had received 50 licence applications, indicating strong interest in the future market.
Olli Sarekoski, Chief Executive Officer of Veikkaus, said more than 1,500 gaming companies currently target Finnish players. He also warned that more than half of the country’s total gaming volume in 2024 took place outside the regulated market.
“The key point is the channelisation rate. A lot of gaming is outside the official channels. What is the point of the monopoly if this is the case?” Sarekoski said.
Veikkaus has joined the Gambling Industry Association Finland (Rahapeliala ry) and is changing its data & AI and finance teams to strengthen its position ahead of increased competition.
The operator reported online casino and betting gross gaming revenue of €151.6m in the first half of the year, compared with €146.5m in H1 2025.
Veikkaus prepares for competition
Sarekoski said the existing system had struggled to protect players while unlicensed operators captured a substantial share of demand. In his view, a regulated market with fair competition would provide a stronger basis for responsible gambling.
“What is the role of the monopoly if it’s no longer channelling and functioning as a tool in preventing gaming harms?” he said. “From our point of view, this unfair competition was making it mission impossible. The system was not able to protect itself, that was very clear, and it’s better to have fair competition.”
Commercial operators entering Finland in 2027 will nevertheless face an established incumbent. Veikkaus said in its H1 2026 results that it had 2.7 million registered customers.
Sarekoski cautioned that strict rules alone would not ensure that players use licensed services. He said it would be difficult to maintain a high channelisation rate and address gambling harms when activity takes place on unofficial sites.
“That’s what we are putting a lot of pressure on. We should have competition, and fair competition. The competition should not be taking the highest risk with the gaming harms, it should be the customer experience,” he said.
