Finland receives around 50 iGaming licence applications ahead of 2027 market launch

Finland’s new gambling regime has already drawn around 50 licence applications, with most of them coming from foreign operators. For PSPs and acquirers, that means a future market where onboarding, source-of-funds checks, and corporate structure review will matter just as much as whether a merchant wants sportsbook or casino.

1. The National Police Board’s Gambling Administration said on Monday that around 50 gambling operators have submitted licence applications since the new regulatory regime was launched earlier this year. The majority of applicants are international or foreign gambling companies, which, as senior advisor Juha Katainen put it, “increases the complexity of processing and evaluating their submissions.”
2. Finland is targeting a liberalised iGaming market launch by 2027, which would end Veikkaus’ current monopoly over online betting and gaming in the country. In other words, the market is not open yet, but the licence pipeline is already building.
3. A freedom of information request filed by iGB found that 24 operators had applied by 30 March, so the application count has roughly doubled in the last couple of months. Each applicant must pay a processing fee of €29,000 ($33,500) for licences valid in 2026, and substantive evaluation starts only after that fee is paid.
4. Katainen said the review process gives heavy weight to the “reliability and suitability” of applicants, using documents such as corporate register extracts, certificates, and various reports. The authority is also examining the financial positions of affiliated companies that may affect operating finance, which is the kind of group-level scrutiny that tends to matter a lot for high-risk merchants with layered ownership or shared treasury structures.
5. The law passed in January, but stakeholders have said key details are still unclear. Veikkaus’ Jarkko Nordlund said the market still needs definitions around bonusing, advertising, allowed media, duty of care, and player protection. Separately, industry consultant Jari Vähänen valued Veikkaus at €4.5 billion ($5.24 billion), including its lottery and physical slots business.

When iGB spoke to industry sources in March, the consensus was that Finland would end up with 40-50 licences once the market goes live. That range has already been reached more than a year before the proposed launch, which is a useful signal for anyone mapping future merchant demand, compliance load, and acquiring competition in the market.