Finland’s Gambling Reform Timeline: From Veikkaus Monopoly to Licensed Market

Phase	Period	Key Event
Monopoly era	2017–2022	Veikkaus created, market share peaks then declines
Reform preparation	2023–2024	PSP blocking, 100% identified play, THL survey
Legislative foundation	2025	Parliament approves new act (94% support)
Licensing process	2026	Applications open, first licences issued
Market opening	2027	Licensed operators begin operations
B2B licensing	2028	Software supplier licences required

2028: B2B Licensing Era

The final phase of Finland’s gambling reform extends regulatory oversight to the supply chain, requiring all technology providers to hold dedicated B2B licences.

July 2028 — B2B licensing requirement takes effect. All companies supplying gambling software, platforms, or technical infrastructure to licensed Finnish operators must hold a separate B2B licence. Fennica Gaming (Veikkaus subsidiary) positioned as potential domestic supplier.

2027: Market Opening

The culmination of a decade-long transformation: Finland’s gambling market opens to licensed competition for the first time.

1 July 2027 — Licensed market officially opens. International operators with Finnish licences begin operations. Veikkaus transitions from monopoly holder to one of many licensed operators.

1 January 2027 — New Gambling Act takes full effect. Regulatory framework operational. Channelisation target: 90%.

2026: Licensing Process

The year Finland begins issuing gambling licences, marking the practical start of the transition from monopoly to open market.

Autumn 2026 — First gambling licences expected to be issued by the Finnish Lottery Inspectorate. 40–50 operators expected to apply.

March 2026 — Licence applications open via the Finnish Lottery Inspectorate.

February 2026 — Sweden’s Riksrevisionen publishes RiR 2026:1, concluding Swedish gambling regulation is “not effective” — reinforcing Finland’s decision to take a stricter approach.

2025: Legislative Foundation

The year Finland’s parliament laid the legal groundwork for market opening, while Veikkaus’ domestic position continued to erode.

December 2025 — Finnish Parliament approves new Gambling Act with 94% support (near-unanimous). The legislation establishes the licensing framework, GGR tax structure, and player protection requirements.

2025 — Veikkaus reports GGR of €936M, down 26% from 2020. Offshore GGR reaches €903M (+74% since 2021). Digital market share has collapsed from 84% to 39%.

2025 — Veikkaus subsidiary Fennica Gaming reports GaaS revenue of €4.4M, nearly doubling year-over-year. Now operates in 17 countries.

2023–2024: Reform Preparation

The period when Finland moved from acknowledging the monopoly’s failure to actively preparing for a new regulatory model.

2024 — Peluuri (national helpline) reports 10,000+ contacts. Majority relates to offshore operator gambling. Government working group finalises reform proposal.

December 2023 — Mandatory identified play extended to all Veikkaus products, including coupon games. 100% of gambling in Finland now requires player identification.

2023 — PSP blocking (Payment Service Provider) implemented against unlicensed operators. Finland becomes one of the first European countries to actively block payments to offshore gambling sites.

2023 — THL population survey: problem gambling prevalence reaches 4.2% of adults (151,000 people), up 40%. Young men 18–24: 6.9%, highest in the Nordics. 733,000 family members affected.

2020–2022: Monopoly Decline

The years when Veikkaus’ digital monopoly collapsed in practice, with offshore operators capturing the majority of online gambling.

2022 — Offshore operators control 76.6% of online casino market and 72% of betting market. Veikkaus monopoly model effectively broken for digital channels.

2021 — Government announces intention to explore licensing alternatives. Monopoly’s inability to channelise digital gambling acknowledged.

2020 — Veikkaus reports peak GGR of €1,260M. Retail GGR at €714M. Digital market share approximately 84%. Last year of monopoly dominance.

2017–2019: Monopoly Consolidation

The founding years of the Veikkaus monopoly, created through the merger of three state-owned gambling operators.

2019 — Sweden re-regulates its gambling market, moving from monopoly to licensing. Results closely watched by Finnish policymakers.

2017 — Veikkaus Oy created through merger of RAY (slot machines), Veikkaus (lotteries/betting), and Fintoto (horse racing). Single state monopoly established for all gambling in Finland.