Entering Finland’s New iGaming Market: What Operators Need to Know

Finland is preparing for a significant gambling reform and is transitioning from the state-controlled monopoly under Veikkaus Oy to a competitive, license-based system that will open the door to private operators. The reform, set to take full effect, at the earliest, in January 2027, will reshape how online betting, casino games, and slots are offered and regulated in Finland. For operators considering market entry, understanding the coming framework and preparing early is essential. Here is what an operator needs to know.

From Monopoly to Licensing

Under the new Gambling Act, Veikkaus will lose its exclusive rights over online casino games, betting, and slots by the end of 2026. It will retain control only over lotteries, scratch cards, and physical slot machines. Veikkaus, under certain requirements, may also compete on equal terms in the newly opened online segments.

The framework introduces two types of licenses:

• Gambling licenses, allowing operators to offer betting, online casinos, and money bingo to Finnish players. The operators can apply for gambling licenses in early 2026, authorizing the operators to start at the earliest on 1 January 2027.
• Gambling software licenses, required for the development, supply, and customisation of gambling software used by licensed operators. The software and service providers can apply for gambling software licenses at the earliest on 1 January 2027.

Both licenses are valid for up to 5 years at a time. From 1 January 2028, the operators may only run their Finnish offerings on software supplied by a licensed gambling software provider.

Strict AML and KYC Compliance

Finland’s reform emphasises responsible gambling and transparency. Operators must implement robust identity verification, player monitoring, and self-exclusion tools. All gambling will require player authentication, and operators will need clear procedures for anti-money laundering (AML), Know Your Customer (KYC), and risk management.

The Finnish regulator expects operators to demonstrate compliance with the national AML Act as part of their licence application. In practice, this means that operators must prepare an AML Policy that clearly describes the practical processes and controls applied to customer onboarding and KYC, ongoing monitoring, and the reporting of suspicious activities or transactions to the Financial Intelligence Unit (FIU) and conduct an AML risk assessment where possible risks and their mitigation measures are assessed. It is also recommended to draft a practical internal compliance manual that provides practical instructions for employees on how to stay AML compliant.

Player Protection

Operators are mandated to implement age verification (18+) and secure player identification for all gambling activity, integrate and enforce a centralised self-exclusion register that applies across all licensed operators, conduct ongoing monitoring to identify excessive or harmful play, and apply proactive measures to prevent gambling-related harm, including player-set limits, timely interventions, and structured support pathways.

Marketing

Marketing will be permitted but tightly regulated. Advertising must remain moderate, cannot target minors or vulnerable groups, and must display responsible gambling information. Influencer-led promotions and the involvement of minors are expressly prohibited, and affiliate marketing is not permitted. Sponsorships are allowed without direct promotion of gambling activities and must avoid placements that would target under-18s.

In practice, the ban on affiliate marketing removes a major acquisition channel, pushing operators towards limited, clearly defined media: capped TV/radio/print, event visibility, and the operator’s own (non-interactive) social media. Sponsorships will sit under tighter scrutiny, requiring control to prevent direct promotion of gambling products.

Operators must also show within the licence application that their marketing policies, approval workflows, and monitoring plans meet the statutory standards. Operators will also be required to file detailed annual reports covering their marketing activity.

Bonuses and Promotional Incentives

As a general rule, the new Gambling Act will prohibit free-to-play offers, deposit bonuses, discounted play, bundled offers, and other player incentives. The only permitted exception is a strictly regulated “bonus play money” granted for customer retention purposes, not for player acquisition. Welcome bonuses will therefore be prohibited.

Permitted bonus play money must be of moderate value, offered on equal terms to customers, and subject to transparent and easily understandable conditions. It cannot be directly withdrawn as cash, and any wagering requirement may not exceed five times the bonus amount. Loyalty schemes, VIP programs, and rewards based on volume of play or deposit size will be prohibited.

In addition, discounts or free goods used in marketing or retention will also be tightly restricted to benefits of modest value that are not linked to gambling activity.

Technical Game Requirements – Secondary Regulation Still Pending

The Government Proposal does not yet contain detailed technical game requirements. Key technical limits, such as maximum stake sizes, game speed (spin/round speed), and other structural game features will be defined later by decree of the Ministry of the Interior. These measures are specifically intended to reduce gambling-related harm, particularly in fast-paced, high-risk games such as online slots and casino games.

The forthcoming secondary regulation is expected to cover, among other things, maximum permitted stakes and winnings, minimum duration per game round, restrictions on autoplay, limits on “near-miss” features, and time-based player protection tools such as mandatory breaks and play-time reminders.

The same technical rules will apply to both games offered under exclusive rights and licensed online games (with the exception of poker). For operators, this means that final product design and technical certification requirements will only become fully clear once the Ministry’s decree is issued.

Taxation and Licence Fees

Finnish gambling taxation will be based on Gross Gaming Revenue (GGR), defined as stakes minus player winnings. A uniform lottery tax rate of 22% will apply to both Veikkaus offering games under exclusive rights and licensed operators.

The reform also abolishes the current corporate income tax exemption for monopoly operators, meaning that all gambling operators, including Veikkaus, will be subject to standard Finnish corporate income tax in addition to GGR taxation.

Player winnings from games offered under a Finnish licence will be tax-free for players, including games offered by non-EU/EEA operators holding a Finnish licence. Winnings from non-licensed operators outside the EU/EEA will remain taxable for players.

Licence Fees and Supervision Costs

Licensed operators will be subject to annual supervisory fees based on realised GGR. Software suppliers will also pay supervision fees, though at a significantly lower level than B2C operators. The exact fee levels will be confirmed by the supervisory authority.

In addition, Veikkaus offering games under exclusive rights will pay a separate market-based compensation for its exclusive rights. This structure does not affect competitive-market licence holders directly but confirms the regulator’s aim of ensuring a level playing field and compliance with EU state aid rules.

All licence-related fees will be deductible expenses for corporate income tax purposes.

Oversight and Enforcement

From 2027, a new Finnish Supervisory Agency will oversee licensing, compliance, and enforcement replacing the National Police Board. The authority will have powers to issue injunctions, impose fines, and revoke licenses when necessary.

Opportunities

Finland’s gambling reform is driven by a desire to improve channelisation, redirecting players from offshore operators to a safe, regulated market. With a digitally savvy population and high interest in gaming and gambling, Finland represents an attractive market for operators.

If you are considering entering the Finnish iGaming market, let’s discuss how we can support your market entry.

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