iGaming Market Launch in Finland: 50 Licence Applications Already Received

Licensing Procedure for iGaming Brands

The application process commenced on March 1st, 2026. By the end of that month, 24 requests were received by the regulatory authority. By mid-year, this number had almost doubled, reaching the level industry experts had expected only after the official sector opening.

Foreign operators’ enthusiasm is especially evident. Juha Katainen, the Poliisi’s Senior Advisor, explains that the high number of international applicants complicates document verification due to the more thorough background checks involved.

For a state with roughly 5.6 million residents, this early activity is significant. However, the current assessment is based on the volume of requests received, not on the number of companies.

Document Submission: Processing Duration and Other Nuances

The regulator accepts applications on a rolling basis, without an official deadline. Nevertheless, potential licensees are not recommended to hesitate, as review typically takes around 6 months, with longer timelines for more complex cases. Before proceeding to a comprehensive assessment, the applicant must pay a €29,000 fee.

During due diligence, the regulatory body checks various documents, including:

• certificates;
• company records and financial reports;
• connections with other enterprises (as part of AML and CFT programmes), etc.

Submitting early enables business owners to start the review process sooner. More intricate organisational structures and larger documentation sets may extend this phase.

Changes for Veikkaus

The newly introduced framework ends the state-controlled brand’s monopoly on online sports betting and gaming. Licensed private operators can provide bookmaker, casino, and bingo services with a 22% tax on GGR.

However, Veikkaus will retain its exclusive rights over:

• Lotto;
• Eurojackpot;
• land-based gambling.

Until June 2027, the Poliisi will be responsible for licensing and oversight of the national entertainment industry. After the market opening, the specially established Supervisory Agency will take over these duties.

Consequently, Veikkaus will encounter competition from foreign companies in the online realm for the first time, while retaining some of its previous exclusivity.

Actual Number of Operators Behind the Applications

Future market volume cannot be projected based solely on the number of documents received, as a single enterprise can apply for several licence types. For example, LeoVegas has submitted 2 requests, so the total sum of issued permits may exceed the actual number of authorised brands.

Preliminary industry estimates suggested Finland would attract 40 to 50 licensees after the official sector opening. However, this level was reached more than a year early.

In this context, some entrepreneurs expressed concerns about potential market oversaturation. Currently, it is hard to tell how many operators will ultimately obtain certificates and how fierce the post-launch competition will be.

Expected Clarification of Certain Provisions

Although there is strong interest, some rules and standards for the online vertical still require further refinement.

Specifically, business owners seek more detailed guidance on the following:

• marketing (bonuses, advertisements, and approved promotion channels);
• duty-of-care requirements;
• customer protection.

Regulations established for these fields will shape how authorised operators can provide services, draw in players, and monitor gaming behaviour. In the meantime, potential licensees can prepare by paying fees, adapting their systems, and completing the necessary paperwork.