Around 50% of Finland’s online gambling expenditure is now flowing to offshore operators, according to new industry data. The shift equates to an estimated €780m ($920m) in annual spending and comes as the country prepares to transition from a state monopoly to a licensed competitive market.
The migration has coincided with a sharp decline in the market share of state-owned operator Veikkaus. By 2025, Veikkaus’ total gambling market share had fallen to 48%, while its share of online gambling dropped to 36%, down from 61% the previous year.
The erosion of the monopoly was a key factor behind Parliament’s approval of a new Gambling Act in December 2025.
A major driver of the change has been the rapid rise of so-called “pikakasinot”, or instant casinos. These platforms use Pay N Play technology to allow players to access games without traditional registration processes and typically offer withdrawals within minutes.
Industry research indicates that withdrawal speed is now the most important factor for Finnish online gamblers, particularly among mobile-first players aged 18–34.
Most instant casino operators currently serving Finnish players hold licences from jurisdictions such as Malta or Estonia.
Finland is now moving into the implementation phase of its regulatory reform. Applications for online gambling licences will open on 1 March 2026, with licensed operations set to begin on 1 July 2027. The new system will apply a 22% tax on gross gaming revenue and introduce mandatory B2B licensing from July 2028.
Veikkaus will be restructured, retaining monopoly rights over lotteries and retail slots while competing in online gambling through a separate entity.
The Government aims to increase channelisation to 80–90%, similar to levels seen in Sweden, while introducing stronger enforcement tools such as fines and domain blocking to curb unlicensed activity.
Finland's regulatory developments have also addressed peripheral issues. In January 2026, the Ministry of the Interior launched a preliminary study examining whether scratchcards can legally be given as gifts under the new framework, following identification requirements introduced in 2024 that effectively ended this practice.
Additionally, the Ministry announced licence application fees of €29,000 for exclusive and gambling licences, with the National Police Board serving as licensing authority until the Finnish Supervisory Authority assumes responsibility on 1 July 2027.
Finland’s total gambling market was valued at approximately €2.4bn in 2025, with offshore play currently limiting domestic tax revenues
