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Finland is an exciting, digitally advanced Nordic country that is about to see a massive evolution of its iGaming ecosystem. Up until this point, Finland has essentially had a state monopoly (Veikkaus Oy) on gambling as the only provider. In March 2025, the Finnish government introduced a bill in Parliament that would eliminate the monopoly of Veikkaus on online casinos, slots, and online betting.
This has led to the government seemingly intending to introduce a multi-license regime sometime in 2026-2027. The multi-license regime will allow Finland to catch up to other leading European markets, allow for more innovation, and provide better consumer protections for its citizens. As a result of this new regime, there are already a lot of interested international operators and investors who want access to a mature and technologically aware player base with good growth potential.
Market Overview
Market Growth and Size
Finland’s gambling market is flourishing, largely supported by the rapidly expanding online segment. In 2025, the overall gambling market is expected to be €2.4 billion, with online gambling estimated at around 65% of the gross gaming revenue (GGR), which is approximately €1.56 billion. In terms of growth, the online gambling sector demonstrated a strong upward trend overall: GGR is projected to reach US$1.31 billion in 2025 and is estimated to grow at a compound annual growth rate (CAGR) of 5.1% between 2024-2029, reaching approximately US$1.68 billion by 2029.
The average revenue per user (ARPU) in the online sector is estimated at US$1,150 in 2025, highlighting players’ high value and engagement in the Finnish market. The user penetration rate is expected to reach 20.6% in 2025, and the online gambling user base, around 1.31 million in total, is projected to grow to nearly 1.31 million in 2029. Notably, 50% of all bets placed by Finnish residents are placed with companies licensed in foreign countries, indicating an open market and demand for multiple products.
Table 1: Finland Gambling Market Size & Growth (2024–2029)
| Year | Total Market Size (€ Billion) | Online Market Share (%) | Online Market Size (€ Billion) | CAGR (2024–2029) (%) | Online Gambling Users (Million) | User Penetration (%) | ARPU (US$) |
|---|---|---|---|---|---|---|---|
| 2024 | 2.3 | 63 | 1.45 | 5.1 | 1.12 | 19.5 | 1,150 |
| 2025 | 2.4 | 65 | 1.56 | 5.1 | 1.17 | 20.0 | 1,150 |
| 2026 | 2.5 | 67 | 1.68 | 5.1 | 1.22 | 20.5 | 1,160 |
| 2027 | 2.6 | 68 | 1.77 | 5.1 | 1.26 | 20.8 | 1,170 |
| 2028 | 2.7 | 69 | 1.86 | 5.1 | 1.29 | 21.0 | 1,180 |
| 2029 | 2.8 | 70 | 1.96 | 5.1 | 1.31 | 21.2 | 1,190 |
Major types of games available
Finnish players have access to a wide range of gambling products, and online slots are the most popular due to their availability and simplicity of play. Numerous Finnish players also have some level of interest in progressive jackpot slots, which have realistic potential payoffs. Most Finnish players also have some interest in table games, including blackjack, roulette, poker, and baccarat. This is especially true for players who may gravitate towards skill-based play.
Many Finnish players are interested in live dealer games, which offer an experiential, fun, and immersive atmosphere, similar to that of a live casino. Instant win games and scratchcards are available in abundance; for many new players, scratchcards also represent a jumping-off point in their gambling journey, due to their simplicity. Although sports betting is also one of the segments of the gambling product market in Finland, it attracts a passionate portion of female players, with most present being male, and a younger audience.
Table 2: Popular Game Types in Finland
| Game Type | Popularity Level | Key Features / Notes |
|---|---|---|
| Online Slots | Very High | Includes progressive jackpots, mobile-friendly |
| Sports Betting | High | Strong interest among younger males, live betting is growing |
| Poker | Moderate | Skill-based, niche, but loyal player base |
| Live Dealer Games | Increasing | Immersive, real-time interaction |
| Lottery & Scratchcards | High (offline) | State monopoly maintained, popular among older demographics |
| Bingo | Moderate | Mostly land-based, social gaming element |
| Instant Win Games | Moderate | Simple, quick-play games |
Demographics of Players
The Finnish gambling population is composed of a multitude of possibilities, but presents fairly evident patterns. The highest prevalence of gambling problems occurs amongst young adults (aged 18–29) (6.9%) and adults (aged 30–44) (5.4%), and men are over twice as likely to have gambling-related problems as women (6.6% vs. 1.8%).
The typical Finnish online gambler is also male, aged 30-59, and typically plays several games, both online and offline – mobile gambling is really taking hold, and it is growing fast (along with high smartphone and tablet adoption). We can expect this trend to increase the Finnish gambling market even more. Overall, Finnish players want convenience and variety, and particularly value game options and features such as mobile and live stream technology through their phones and devices.
In conclusion, Finland’s gambling market is large, digitally advanced, and growing quickly, with online casino games, slots, and live dealer gaming experiences leading the charge. The player base for gambling options in Finland is predominantly adult, tech-savvy, and next-generating adults interacting with online and mobile gaming outlets.
Table 3: Player Demographics & Behavior
| Demographic Group | Percentage / Insight | Notes |
|---|---|---|
| Age Group 18–29 | 6.9% gambling problem prevalence | The highest risk group |
| Age Group 30–44 | 5.4% gambling problem prevalence | Significant segment |
| Gender Distribution | Male 6.6%, Female 1.8% problem prevalence | Males dominate the player base |
| Online Gambling Users | ~44% of adults | Increasing mobile usage |
| Preferred Devices | Mobile > Desktop | Mobile gaming dominant |
| Average User Age | 30–59 years | Core player demographic |
Regulatory Landscape
Overview of Existing Gambling Regulations
This article was updated on April 27, 2026.
Finland has a long-standing state monopoly on gambling, with Veikkaus Oy given rights to almost all gambling, such as lotteries, scratch cards, non-casino EGMs, and land-based casinos. The monopoly was established via the merger of three operators in 2017, namely, the Finnish Slot Machine Association, RAY, and Fintoto.
Overall, the regulatory framework in Finland has focused on minimising harm from gambling and using gambling earnings for social welfare programmes. In 2021-2023, player identification became compulsory to protect customers, which led to a downturn in land-based gambling participation. Even with the monopoly, historically approximately half of online gambling bets by Finns were placed with foreign operators, which served as the primary catalyst for the current transition toward a more open, regulated market.
Licensing Requirements and Regulatory Bodies
The transition of oversight is currently underway. While the National Police Board previously managed the monopoly, the newly established Finnish Supervisory Agency (the independent Licensing and Supervisory Authority) has taken over as the primary governor of gambling operations in 2026. This body governs licensing, compliance, and enforcement. Under the new system, both domestic and international operators are currently submitting applications for licenses to offer online casino games, slots, sports betting, and horse racing. Licensing is strictly limited to companies that meet high standards of “trustworthiness and suitability,” with rigorous requirements regarding the reliability of gaming systems, transparent marketing, and robust player protection practices. Veikkaus is also required to hold separate licenses for its competitive operations.
Details on Taxation and Compliance
Licensed operators are subject to a gross gaming revenue (GGR) tax of 22% and an annual supervisory fee. Operators are required to implement extensive responsible gambling protections, including a “duty of care” that mandates monitoring player behavior and intervening when there is a suspicion of gambling-related harm. Marketing is permitted but highly regulated; affiliate marketing remains prohibited, and influencer marketing on social media is banned. Furthermore, bonuses are strictly controlled and may only be offered to existing customers to prevent the aggressive acquisition of new, potentially vulnerable players. Operators must maintain full transparency, submitting annual reports detailing their operations and marketing expenditures.
Upcoming Changes in Legislation
Following the approval of the Gambling Act, the licensing window officially opened in early 2026. While license applications are being processed throughout this year, the competitive market is scheduled to go live on January 1, 2027. Veikkaus retains its monopoly exclusivity for lotteries, physical scratch cards, and land-based slot machines/casinos, but the online market is now open to licensed competition.
The legislative framework balances market liberalization with some of the strictest harm-prevention measures in Europe. This includes the power for the regulator to mandate that operators deny or restrict access to individuals exhibiting risky behavior. Advertising for high-risk games is banned near schools and in outdoor public spaces. Additionally, all players must participate in a centralized self-exclusion system that applies across all licensed operators.
Table 4: Regulatory and Taxation Overview
| Aspect | Details | Aspect | Details |
|---|---|---|---|
| Regulatory Authority | Finnish Supervisory Agency (Full oversight as of 2026) | Licensing Model | Multi-license system for online casino, slots, and betting |
| License Duration | 5 years | GGR Tax Rate | 22% |
| Annual Supervisory Fee | Tiered based on operator size/revenue | Responsible Gambling | Mandatory duty of care, centralized self-exclusion, and mandatory spending limits |
| Marketing Restrictions | No affiliate or influencer marketing; bonuses for existing customers only | Player Age Limit | 18+ |
| Monopoly Retained For | Lotteries, land-based scratch cards, and land-based gambling |
Competitive Landscape
Key Market Players
For the time being, Veikkaus Oy, owned by the state of Finland, is unquestionably the strongest operator in the gambling space and has a monopoly on lotteries, scratch cards, physical casinos, and some forms of physical slot machines. In May of 2025, Veikkaus launched a new sports betting platform on OpenBet’s next-generation platform, the premier global provider of betting technology, before the anticipated liberalization of the Finnish gambling market, signalling Veikkaus’ intent to get more out of their existing market once they no longer have a monopoly. This new upgrade brings new omnichannel capabilities to Veikkaus, allowing for online and retail betting across more than 4,000 retail points of sale, while allowing them to fortify their positions before these liberalizations are implemented in the form of expanded market reforms.
Concurrently, many operators in international markets are also preparing to enter the Finnish market once they undergo the licensing regime. The Finnish government’s 2025 Bill to remove Veikkaus’ monopoly on the provision of online casino games and slots, as well as sports betting, allows the market to be opened up to private operators by 2027. Private operators from other Nordic countries (with licensed or regulated markets like Sweden and Denmark) are keen on entering Finland due to Finland’s state-of-the-art digital infrastructure as well as a sophisticated player base.
Market Share Distribution
At this point, Veikkaus has most of the legal market in Finland, but approximately 50% of the online gambling stakes of Finnish residents are placed with foreign operators, showing there is a lot of market leakage. This split shows there is a clear appetite for regulated competition and demonstrates that when licensing does come open, there is significant redistribution of market share to be had. Veikkaus will remain vastly important for lotteries and land-based gambling, but is likely to face very credible competition for online casino and sports betting.
Partnerships and Strategic Alliances
Strategic partnerships are already altering the competitive landscape. Veikkaus’s partnership with OpenBet is a great example of how incumbents are investing in technology innovation to stay relevant. Finnish platform providers like Finnplay are emerging as the go-to enablers for international operators looking to enter the market, leveraging their local regulatory knowledge and infrastructure.
As the market continues to liberalize, partnerships between technology suppliers, game content providers, and operators will be paramount. Operators will want partners to meet stringent regulatory requirements, localize their offerings, and stand out in a competitive market. With the anticipated licensing regime, the market may have anywhere from 30 to 50 applicants, and partnerships will forge a very dynamic system of collaboration for industry participants focused on innovation and compliance with responsible gambling.
Table 5: Competitive Landscape Snapshot
| Operator Type | Key Players / Examples | Market Position / Notes |
|---|---|---|
| State Monopoly | Veikkaus Oy | Dominates lotteries, land-based, and retail betting |
| International Operators | Potential entrants from Nordic countries | Expected to enter online casino, slots, and sports betting |
| Technology Providers | OpenBet (partner with Veikkaus), Finnplay | Provide platforms, content, and compliance solutions |
| Market Share | Veikkaus ~50%, Foreign operators ~50% (online bets) | Market share expected to shift post-2027 |
Consumer Trends
- Player Behavior:
Most gambling now occurs online, with players seeking convenience, variety, and security. Mobile gaming and live casino experiences are increasingly popular. - Payment Methods:
Finnish players prefer a range of payment solutions:- Credit/debit cards (Visa, MasterCard)
- E-wallets (PayPal, Skrill, Neteller)
- Bank transfers (Nordea, OP-Pohjola)
- Prepaid cards (Paysafecard)
- Mobile payments (Zimpler)
- Technological Trends:
Virtual reality (VR) is emerging as a frontier in Finnish online casinos, offering immersive 360-degree environments and social gaming experiences. Operators are experimenting with VR-compatible games, reflecting Finland’s tech-savvy culture. - Social & Cultural Factors:
Gambling is mainstream but subject to strong social expectations for responsible play. There is public support for robust consumer safeguards, especially given concerns about gambling-related debt.
Table 6: Payment Methods Preferred by Finnish Players
| Payment Method | Popularity | Notes |
|---|---|---|
| Credit/Debit Cards | Very High | Visa, MasterCard are widely accepted |
| E-wallets | High | PayPal, Skrill, and Neteller are popular |
| Bank Transfers | Moderate | Nordea, OP-Pohjola preferred |
| Prepaid Cards | Moderate | Paysafecard is common for privacy-conscious users |
| Mobile Payments | Increasing | Zimpler and similar services are gaining traction |
Opportunities & Challenges
Growth Potential For New Entrants
The new licensing regime opens significant opportunities for both established and new entrants. The Finnish market’s high digital literacy and appetite for innovation favor operators offering mobile-first, AI-driven, and immersive gaming experiences.
Regulatory and Operational Challenges
- Navigating strict compliance and responsible gambling requirements
- Adapting to marketing restrictions (no affiliates, bonuses only for existing players)
- Ensuring B2B partners are licensed by 20286
- Competing with established brands and localizing offerings for Finnish preferences
Innovation & Investment:
Areas ripe for investment include:
- Advanced player protection technologies (AI-based monitoring)
- VR and immersive gaming solutions
- Localized content and payment systems
- Strategic partnerships with local platforms and media
Conclusion & Recommendations
Finland’s iGaming market is embarking on a new era of transformation. The transition from a state monopoly to a multi-license, many-operator regime will stimulate innovation, provide consumers with choice, and create market growth. However, success will be contingent on operators’ ability to comply with tough regulatory standards, localize and customize their offerings, and continue to invest in responsible gambling and technological innovation.
Strategic Recommendations for Market Entry
- Engage early with regulators and legal advisors to ensure compliance and timely license applications
- Localize content, payment options, and customer support to Finnish preferences
- Partner with established local providers for smoother market entry
- Invest in responsible gambling tools and advanced player protection technologies
Future Outlook for the iGaming Sector in Finland
Finland is emerging as one of the most active iGaming markets in Northern Europe, providing promising opportunities for compliant and innovative operators. The development of this market will be shaped, first and foremost, through regulatory clarity, consumer protection, and technological development.
Data and Sources:
- Statista Market Insights: Gambling Market Forecast Finland (2025)
- SBC News: Finland’s iGaming Market: Growth Amid Regulatory Shifts (April 2025)
- Research and Markets: Gambling Market Report 2025
- Quality Mark Responsible Affiliates (QMRA) Report: Finland’s Potential Affiliate Ban (March 2025)
- Sigma World: Online Gambling Market in Finland Poised for Steady Growth (September 2024)
- European Gaming and Betting Association (EGBA): European Gambling Market Key Figures 2025 Edition (April 2025)
- ICLG: Gambling Laws and Regulations Report 2025 Finland
- 6Wresearch: Finland Gambling Market Report 2025-2031
