However, the direction for the industry is clear: the monopoly of the state operator Veikkaus has failed to meet its targets, channeling has fallen below 50 percent, and state revenues have almost halved since 2017. Now, a new licensing system is intended to steer the market in a regulated direction and curb the growing dominance of international providers.
Draft bill nearing completion – but delays likely
Although the parliamentary administrative committee is already working on the final report on the new gambling law, insiders expect delays.
Officially, the market could be opened as planned on January 1, 2027. Behind the scenes, however, there are discussions about postponing the launch until summer 2027 – and thus until after the parliamentary elections.
The reason: politicians fear that a hasty opening could lead to a sharp increase in gambling advertising and negatively impact public opinion during the election campaign.
Broad political consensus – but uncertainty about the timetable
Unusual for Europe: the parties largely agree that the monopoly is no longer tenable.
Veikkaus itself has also publicly stated that a state monopoly is no longer appropriate.
The only disagreement is over
- how restrictive advertising regulations should be,
- what measures are necessary for damage prevention/player protection,
- and when operations should start.
The content of the law, on the other hand, is largely uncontroversial.
Regulatory authority not yet ready to launch
While operators are already putting together teams, developing local strategies, and seeking legal advice, there are serious doubts as to whether the authorities will be ready in time.
The new gambling authority is not scheduled to be established until 2026 and will be embedded in a regional administrative structure – sanctions can only be imposed indirectly through the courts.
Experts criticize the lack of experience in the gambling sector, inadequate personnel planning, and a lack of communication with the industry. As a result, the transition will be “anything but smooth,” warns a compliance expert.
Combating the black market remains the Achilles heel
The biggest structural weakness of the new system is clear: Finland has no plans to block payments or websites.
This means that key enforcement tools remain unused. Industry experts predict that:
- illegal providers will remain accessible,
- licensed companies will be subject to stricter controls than unlicensed ones,
- and channeling will be jeopardized in the long term.
Some are already warning that the legislation will need to be revised again by 2030.
Operators respond: cautious optimism despite unanswered questions
Despite the uncertainty, the mood in the industry is predominantly positive.
Many providers see Finland as a stable, attractive market with consumers who are willing to pay high prices.
As a result, several companies are now setting up new offices in Helsinki, hiring product marketing and support staff, and developing country-specific brand strategies.
Others want to operate mainly from abroad and rely on their existing platforms.
Advertising as a political bone of contention
The rules on responsible advertising are considered one of the biggest risks of the new system. Critics complain about unclear wording that could make interpretation difficult for courts.
While some operators consider the regulations to be “relatively liberal,” experts warn of an uneven playing field, as some advertising channels—such as affiliate sites—will be severely restricted in the future.
Europe looks to Finland – symbolic significance for the continent
Economically, Finland's significance is modest, but politically, the move is far-reaching. It is the second Nordic country after Sweden to give up its monopoly.
Norway in particular will be watching the outcome closely. There, the government is holding on to the monopoly, but is increasingly relying on arguments that have already lost their persuasive power in Finland.
Across Europe, the Finnish reform could further strengthen the trend toward more harmonized regulatory models – especially in the fight against the black market.
Conclusion: A big step – but not an easy one
Finland is at a turning point. The industry is ready, but legislators and authorities are struggling with time pressure, political nervousness, and structural gaps.
The real test will come after the market opens: then it will become clear whether Finland can improve channeling, combat the black market, and create a stable, secure market.
Until then, the industry remains optimistic – and waits for the final starting signal.