Finland Ends State Monopoly with New Licensing Framework as Global Operators Eye High-Stakes Market Entry

Finland launches its private gambling license window, targeting a 2027 market opening with a 22% GGR tax and strict new marketing and affiliate bans.

By: AXL Media

Published: Apr 6, 2026, 10:53 AM EDT

Source: Information for this report was sourced from iGaming Business

The Dismantling of a Nordic Monopoly

The Finnish parliament has finalized a transformative shift in its gambling landscape by passing a sweeping iGaming bill designed to end the exclusive reign of the state-owned operator, Veikkaus. Starting in March 2026, the National Police Board began accepting B2C license applications from private entities, signaling a transition that will culminate in a full market opening in mid-2027. While Veikkaus will relinquish its hold on digital gaming and sports betting, it will retain exclusive rights over land-based slot machines, traditional lotteries, and scratch cards. This reform aims to modernize a sector that currently sees a significant portion of its wagering volume diverted to offshore, unlicensed providers.

Economic Scale and Channelisation Goals

Finland represents one of the most lucrative gambling markets per capita in the world, with H2 Gambling Capital estimating a total market GGR of €1.9 billion for 2026. Data suggests that approximately 81% of this revenue is generated through online channels, yet the current channelisation rate—the percentage of play occurring within the legal system—has plummeted to roughly 50%. The new licensing regime seeks to reverse this trend by offering a competitive 22% tax on GGR. By bringing grey-market participants into a regulated framework, the government hopes to revitalize stagnant tax revenues that have declined alongside Veikkaus’ shrinking market share.

Restrictive Marketing and Affiliate Bans

One of the most contentious pillars of the new framework is a highly restrictive approach to digital promotion. The legislation includes a total ban on the use of affiliates and influencer marketing, while social media advertising is limited to an operator's own verified channels. Antti Koivula, chief compliance officer at Hippos ATG, described this dual approach—which permits traditional mass media and sports sponsorships while curbing targeted digital tools—as contradictory. Critics argue that by removing affiliates, the government may inadvertently strengthen the black market, as these services will likely continue to direct traffic toward unlicensed offshore sites.