iGaming Licensing in Finland: Key Requirements and Prospects

The country is preparing for one of the most ambitious transformations in its economy: the reform of the entertainment market. The changes are intended to end the state monopoly and open the door to foreign investors.

Casino Market experts discuss the new licensing procedure, as well as the stages and nuances of launching an iGaming startup. From us, it is also possible to order a turnkey project with comprehensive support.

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Current Situation in the Industry

The Finnish model stands out from other European countries. Veikkaus Oy is a key player in the market that controls the bulk of the niche.

The brand has the exclusive right to organise most types of entertainment:

• lotteries;
• instant games (scratch cards);
• land-based casinos and halls with slot machines.

The state receives a portion of Veikkaus's profits and donates them to public initiatives. Thanks to taxes and dividends, the construction of sports and educational centres is financed. Low-income citizens are provided with social services.

The Business of iGaming online portal gives the following figures for the beginning of 2025:

• €2.4 billion — total casino market capitalisation;
• €1.6 billion — revenues of the online sector;
• 41–50% — share of foreign operators in the total income structure.

According to the regulator's report, in 2024, Finns spent €590 million on gambling outside the Veikkaus monopoly, that is, on international sites. This represents approximately 25% of the market size or 35% of the profit in the digital segment.

Every year, more players are placing bets on offshore platforms. They use VPN services and other methods to access them. Portals licensed in Malta, Estonia, and Curacao are considered the most popular.

Modern foreign platforms offer more engaging formats (online slots, live entertainment, arcades, sports betting), attractive bonuses, and promotions, which are severely lacking in Veikkaus's assortment.

The growing relevance of bookmaking solutions is largely due to the rapid spread of smartphones. Finns are accustomed to using modern gadgets, a stable Internet, and mobile apps, expecting a convenient and smooth process.

Innovations in the Gambling Market

The government plans to completely reform the industry, allowing both land-based and online wagering.

The draft law has been prepared by the Finnish Ministry of the Interior and has already been submitted to the relevant committees for review. The final vote is scheduled for autumn 2025, after which there will be a one-year transition period.

The reformation of the entertainment niche is a key goal of Prime Minister Petteri Orpo's government program. It aims to strengthen regulatory oversight, increase transparency, and ensure a safe betting environment. The authorities also plan to increase state revenues and minimise damage associated with gambling.

Let us look at the main changes in the market.

Licensing

All online platforms targeting Finnish users are required to obtain a permit.

This rule applies to both local operators and foreign companies that previously worked in a grey area without official certification, but still accepted players from the country.

Creation of a New Regulator

The Licensing and Supervisory Authority, which will report to the Ministry of the Interior, will be launched in 2027.

The commission’s main functions are:

• issuance of permits (B2C and B2B);
• monitoring of compliance with marketing standards;
• consumer protection;
• auditing and technical assessments;
• blockage of illegal operators.

Taxation

All licensed providers will have to pay 22% of gross gambling revenue (GGR). This is comparable to the fiscal burden in Sweden and Denmark.

Revenues will go to the state in 3 ways:

• licensing fees;
• corporate levies on operators;
• gross receipts tax.

According to the authorities, the chosen fiscal regime can help achieve an optimal balance. The government will get stable revenues, and companies will be able to remain competitive in the market.

Licence Cost and Validity Period

The Helsinki Times states that private operators will require 2 permissions:

• to organise online gambling;
• to supply software (B2B).

Each document will be valid for 5 years.

According to preliminary estimates, the registration fee will be €50,000. Annual licence fees will be linked to the GGR and vary from €4,000 (for gross gaming revenues less than €100,000) to €434,000 (for the income over €50 million).

Change in the Work of Veikkaus

The state-owned company, which previously had a sole right for all forms of casino entertainment in Finland, will maintain its monopoly in only 3 areas:

• lotteries;
• scratch cards;
• land-based slot machines.

All other segments, including online casinos and sports betting, will be open to private firms. This will create healthy competition and broaden the choice for players.

Gambling Advertising

This kind of marketing will be legal, but with some restrictions.

Advertising campaigns must be discreet:

• no aggressive promotion;
• no promises of easy wins;
• mandatory warnings about the risks associated with ludomania.

In this way, the government plans to protect vulnerable groups, especially minors and low-income citizens.

According to the bill, all forms of affiliate promotion, including CPA, RevShare, and media referrals, will be prohibited. The restriction applies to both illegal gambling brands and licensed operators working with trusted Finnish partners.

All types of incentives (no-deposit bonuses, seasonal campaign points, free spins, and virtual money) will be banned as well.

Combating Illegitimate Companies

The authorities intend to actively oppose unregulated sites and iGaming platforms registered abroad.

The state plans to:

• block payments from such portals;
• blacklist domains;
• ban any advertising or cooperation with illegal resources.

The acquisition of a licence will be a mandatory requirement for all casino owners who want to provide their services in Finland.

Rules for the Applicants

Let us review the key conditions for obtaining a permit.

Reliability of the Petitioner

Gambling companies must be financially stable and legally transparent.

Future operators are required to provide:

• full information on the ownership structure and ultimate beneficiaries;
• confirmation of the capital formation sources to exclude the use of illegally obtained funds;
• financial statements for the past several years to confirm the stability of the business;
• confirmation of a clean criminal record and the absence of violations related to fraud, money laundering, etc.

The regulator will conduct a detailed inspection of all applicants. The purpose of this analysis is to prevent entrepreneurs with a dubious reputation from entering the market.

Support for Responsible Gambling

Every licensed provider is required to implement a consumer protection system. The mandatory measures include:

1. User identification (KYC). All customers must pass identity and age verification.
2. Restrictions for minors. Players under 18 are prohibited from participating in any form of betting.
3. Self-exclusion system. This is a temporary or permanent blocking of access to the game through a single national registry.
4. Limits on deposits. Clients must be able to set daily, weekly, and monthly spending caps.
5. Monitoring of the behaviour. Entrepreneurs are required to watch for signs of ludomania and, if necessary, warn people or restrict their access to the platform.

Technical Standards

To obtain a licence, providers must use only certified software that has passed the audit of independent laboratories.

Key evaluation parameters include:

• transparency of random number generators (RNG);
• protection of personal details (all information must be stored and processed in accordance with the European GDPR);
• the ability to integrate with government monitoring systems;
• the availability of servers or data centres that comply with ISO/IEC 27001 security standards.

B2C operators will be able to work only with suppliers that have also received a Finnish licence.

This requirement applies to many industry representatives:

• gaming providers (the creators of slot machines, live content, and online poker software);
• payment service suppliers;
• developers of analytics systems and anti-fraud modules;
• hosting providers, if they store client data.

Thus, Finland is building an ecosystem with dual licensing, where digital platforms and software vendors bear equal legal responsibility.

Additional Demands

Applicants must also:

• appoint an official representative in the jurisdiction (for foreign companies);
• create a localised website with support for Finnish and Swedish languages;
• connect to the system of the AML national control.

The Main Things about Casino Licensing in the Region

Finland is a promising destination for launching an iGaming startup.

Key aspects that operators should take into account:

• The country is undergoing a transformation of its entertainment sector. This is a transition from a strict monopoly to a competitive and licensed market with well-reasoned regulation. These changes will open the niche to foreign investors and contribute to the growth of the state treasury income.
• The government plans to issue separate permits for all types of online gambling (betting, casino content, and poker) for 5 years. To obtain a licence, it is necessary to prove financial solvency, pass a verification of key persons, and undergo a technical assessment of the system.

The Casino Market studio assists with licensing and launching iGaming startups. We offer turnkey projects, White Label portals, poker products, lottery software, and secure payment solutions.

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James Burton The Casino Market partner, the owner of the gambling establishments’ network

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