When Finland decided to dismantle its long-standing gambling monopoly, the goal sounded straightforward enough: reduce gambling harm, improve channelization, and bring tax revenue back into the country. But with only a few months left before the new licensing model is supposed to begin, the path forward feels less like a planned transition and more like a countdown into uncertainty. What follows is a look at where we are, how we got here, and why the coming months may decide whether this reform becomes a success—or a regulatory headache for years to come.
2025: Uncertainty, Pressure, and Constitutional Roadblocks
The legislative process reached a critical moment on September 2025, when the Constitutional Committee issued its opinion on the gambling reform bill. The committee confirmed that the proposal can proceed under the ordinary legislative process, but only if specific legislative concerns are addressed. These concerns relate mainly to Sections 51 and 52 of the proposed law. Section 51 outlines the general rules for gambling marketing and defines the conditions under which advertising is considered acceptable. Section 52 lists prohibited marketing practices, including tracking-based techniques and other consumer-protective restrictions.
Because these two sections form the backbone of future marketing, compliance, and enforcement, the demand for clarification creates a significant delay. Quite simply, without sound definitions of what is allowed and prohibited, regulators and operators cannot prepare for the new system. This has created a growing sense of urgency across the industry.
Why Reform at All?
The current Finnish system is built around a state-run monopoly, with Veikkaus operating gambling in mainland Finland and PAF running operations in Åland. This structure has always been justified as the best way to limit gambling harm and prevent misuse, since centralized control provides a clear oversight mechanism.
Despite this logic, the Government Programme committed to a major restructuring: a licensing model to be implemented no later than 1 January 2027. The goals include reducing gambling-related harm, increasing consumer protection, improving the channelization rate, and capturing revenue that now flows to offshore operators. The government proposal was delivered to Parliament on 20 March 2025, but since then political friction, legal debate and administrative challenges have slowed the process significantly.
2026: A Reform That Begins Whether Finland Is Ready or Not
According to the current plan, licensing applications will open in January 2026. Operators—both domestic and international—will be able to apply for licenses for online casino operations, sports betting, bingo-style games, and gaming software. This is the first step in rebuilding Finland’s regulatory system.
Throughout 2026, the new licensing authority is expected to review applications, define compliance expectations, publish marketing guidelines, clarify bonus rules, set KYC requirements, and establish enforcement mechanisms. This would be an enormous administrative effort even under ideal circumstances. Under the current timeline, it is nothing short of an institutional sprint.
The target for licensed operations to begin is 1 January 2027. If the schedule holds, unlicensed operators will face enforcement actions, while approved operators will be allowed to launch their services on the Finnish market.
Veikkaus: A Two-Headed Operator
One of the most complex aspects of the reform is the restructuring of Veikkaus. The company will operate under two distinct roles. As a monopoly operator, it will retain exclusive rights to lotteries, scratch cards, Toto betting and physical slot machines. At the same time, it will likely establish a separate subsidiary to compete on the open market in areas such as online casino gaming and sports betting.
This dual structure raises a number of open questions. How strictly will the two units be separated? Will Veikkaus’ competitive arm enjoy inherent advantages? How will cross-promotion be monitored? And how will regulators ensure that Veikkaus does not benefit unfairly from its monopoly status while simultaneously competing with private operators? These questions remain largely unanswered, adding another layer of uncertainty for the market.
Looking to Sweden: A Useful but Imperfect Blueprint
Finland is often compared to Sweden, which moved to a licensing system in 2019. Sweden’s experience shows both the potential and the pitfalls. On the positive side, Sweden achieved strong channelization from the start, with approximately 90 percent of gambling taking place on licensed sites. The state gained clearer oversight, tax revenue increased, and licensed operators adopted strong responsible-gambling measures. In the first six months alone, Swedish operators contacted around 200,000 players identified as being at risk, and more than half of these players reduced their gambling.
But Sweden also demonstrated the challenges of strict regulation. Operators have faced heavy fines for advertising violations. Bonus restrictions have been so tight that some companies—especially those targeting high-roller segments—have left the market entirely. The regulation is effective, but also unforgiving. Finland must therefore walk a delicate line: rules must be clear, strict and consistent, but not so restrictive that they undermine the competitiveness of the licensed market.
Why This Feels Like a Timeline to Chaos
With only months left before the transition begins, Finland is contending with unresolved legal questions, unclear marketing rules, partially defined bonus limitations, significant pressure from sports organizations, public-health advocates and operators, a half-built licensing model, and the restructuring of the country’s only gambling monopoly. The timeline is tight, the expectations are high, and the legal foundations remain fragile.
This does not mean Finland is destined to fail. But it does mean that the country is attempting a major reform at maximum speed, with several crucial details still in motion.
Final Thought: Opportunity or Disorder?
Finland still has the potential to create a modern, safe, well-regulated gambling ecosystem—one that protects consumers while bringing revenue back home. But achieving this requires clarity, fairness and predictability. The next few months will decide whether Finland will follow Sweden’s example as a well-regulated but functional market, or whether it will struggle through years of correction, revision, and growing pains.
This is a market that rewards preparation. Operators who understand Finnish culture, politics and regulation will have a clear advantage when the new system launches. And for those who plan to enter Finland in 2027, guidance is not optional—it’s essential.
