Veikkaus Backs Fair Competition Ahead of Finland’s Market Opening

Finland.- 10 September 2026 | www.zonadeazar.com Veikkaus is preparing for one of the most significant structural changes in its history as Finland moves towards opening online betting and gaming to private operators under a licensing system from 1 July 2027.

Olli Sarekoski, President and CEO of Finland’s state-owned gambling company, believes the transition is necessary to increase channelisation towards supervised operators and establish more balanced competitive conditions.

The reform will end Veikkaus’ exclusivity over online betting and casino gaming, although the company will retain monopoly rights across products including lotteries, scratch cards and certain land-based gaming activities.

The Channelisation Challenge

A central argument behind the reform is the amount of gambling activity that has moved outside Finland’s regulated system.

Sarekoski estimates that approximately 1,500 gambling businesses target Finnish consumers.

During 2024, around half of the country’s overall gambling volume was taking place outside the official market.

This raised fundamental questions about maintaining a monopoly when such a substantial share of customer activity was already flowing towards international platforms.

A Monopoly Already Facing Offshore Competition

Although Veikkaus formally held exclusive domestic rights, it was already competing against international businesses in practice.

Offshore platforms could target Finnish consumers without operating under the same requirements imposed on the state-owned operator.

Veikkaus has faced conditions including loss limits, marketing restrictions and jackpot limitations that were not necessarily applicable to offshore competitors.

Player Protection Behind the Reform

Poor channelisation is not solely a commercial concern.

Veikkaus believes a significant share of the most serious gambling-related harm has occurred through gambling taking place outside the official system.

When consumers move to unsupervised platforms, national tools for monitoring, intervention and responsible gambling become less effective.

Finland’s new legislation therefore seeks both to reduce gambling harm and increase the share of activity taking place through domestically licensed and supervised services.

Market Opening on 1 July 2027

The fundamental change will take effect on 1 July 2027.

From that date, licensed businesses will be allowed to begin operating products previously covered by Veikkaus’ exclusive position.

Competition will cover:

• Betting.
• Online slots.
• Online casino gaming.
• Online bingo.

Veikkaus will retain exclusive rights for lottery-style games, scratch cards, physical slot machines and land-based casino games.

More Than 50 Operators Could Enter

Industry expectations point towards considerable interest from prospective licensees.

More than 50 betting companies could eventually enter the Finnish market once the licensing system is fully operational.

Businesses are already preparing commercial and operating strategies ahead of launch.

For Veikkaus, however, this competition is not entirely new because international operators have been competing for Finnish customers for years.

Three Million Registered Customers

Veikkaus enters the transition with a substantial existing customer base.

Sarekoski estimates that the company has around three million registered customers within a national population of approximately 5.7 million.

He therefore does not expect liberalisation to suddenly create a large population of completely new gamblers.

Instead, the principal change is likely to be a redistribution of existing activity between businesses operating under common domestic rules.

Competition Already Exists

From Veikkaus’ perspective, Finland is not creating competition from nothing.

International platforms already account for a substantial portion of digital gambling.

The difference after July 2027 will be that companies holding Finnish licences will compete under regulatory requirements established by the national authorities.

For Sarekoski, this should transform an uneven competitive environment into a fairer one.

Mandatory Player Identification

The new framework will also strengthen player-protection mechanisms.

All gambling will require identification, while player registration will require strong identity verification.

The minimum gambling age will remain 18.

Identification will support measures including spending controls, player monitoring and self-exclusion.

Centralised Self-Exclusion

Finland’s legislation will introduce a centralised system allowing consumers to exclude themselves across all licensed operators.

Players will also be able to apply exclusions covering individual games or categories.

Operators will have obligations to monitor player behaviour and provide tools designed to prevent gambling-related harm.

Account Transfer Limits

Gambling conducted through player accounts will also be subject to transfer limits.

Customers will be required to set daily and monthly limits on the amounts they can transfer into gaming accounts.

These requirements are intended to combine greater commercial competition with common consumer-protection standards.

Advertising Will Become More Visible

The opening will also substantially alter Finland’s advertising environment.

Traditional media currently carries relatively little money-gaming advertising.

Sarekoski expects promotional activity to become noticeably more visible as newly licensed operators attempt to establish brands and acquire customers.

First Six to Nine Months

Veikkaus expects the highest advertising intensity during the first six to nine months following market launch.

This period will coincide with operators building their customer bases and competing for initial market share.

Sarekoski believes advertising activity should become more normalised once market positions begin to stabilise.

Affiliate Marketing Will Be Prohibited

The new system will not permit affiliate marketing.

This has raised concerns among some smaller businesses that commonly rely on affiliate networks as an acquisition channel in other European jurisdictions.

Veikkaus itself does not regard the prohibition as a major competitive risk.

Sponsorship and Traditional Advertising

Other forms of marketing will remain available.

Sports sponsorships and advertising across television, radio and public spaces will be permitted under the new framework.

Balancing commercial visibility with player protection is likely to become one of the most closely debated issues following market opening.

Lessons from Sweden and the Netherlands

Finland is closely observing European markets that have already undergone significant liberalisation.

Sweden restructured its market in 2019, while the Netherlands introduced regulated online gambling in 2021.

Both have subsequently faced debates over advertising, player protection, additional restrictions and channelisation.

Finland will attempt to avoid creating conditions so restrictive that consumers are encouraged to return to offshore alternatives.

Risks of Excessive Restrictions

Sarekoski argues that imposing very strict rules is relatively straightforward.

The more difficult task is maintaining a strong channelisation rate when licensed operators are competing against offshore sites offering different products or conditions.

If regulated products become significantly less attractive, consumers can migrate outside the domestic framework.

This in turn weakens player-protection measures and reduces the ability of authorities to supervise gambling activity.

Channelisation Could Exceed 80%

Veikkaus remains optimistic about the new framework.

Sarekoski believes channelisation could increase to approximately 80% or potentially slightly above that level.

Recovering gambling currently taking place outside Finland’s official system is one of the principal objectives of the reform itself.

Broad Political Support

The reform secured considerable backing across Finland’s political spectrum.

During the bill’s second reading in December 2025, approximately 94% of MPs supported the legislation.

Backing included representatives of all four governing parties.

Some opposition politicians also supported the overall reform while calling for stricter provisions around advertising, sports marketing and bonuses.

22% GGR Tax

Taxation will also be a key element of the new market.

Licensed businesses are set to face a rate equivalent to 22% of gross gaming revenue.

The Finnish Government has confirmed that the lottery tax will rise to 22% in connection with the gambling-market reform.

The level remains below rates currently applied to online gaming in several other European jurisdictions.

Licence Application Fees

Finland opened the licensing process in March 2026.

An exclusive licence or gambling licence currently carries an administrative application fee of EUR 29,000.

The National Police Board will remain responsible for licensing until 30 June 2027.

From 1 July 2027, licensing and supervision will transfer to the Finnish Supervisory Agency.

Veikkaus Retains Part of Its Exclusive Position

The reform does not remove Veikkaus’ special role entirely.

The group will continue operating certain products under an exclusive licence.

Lottery products, scratch cards and physical gaming will remain within this protected segment.

A company within the Veikkaus Group will also be permitted to seek a licence and compete directly within the newly opened market.

Competition Through Customer Experience

Sarekoski argues that future competition should not revolve around which operator can take greater risks in relation to gambling harm.

Instead, businesses should compete through product quality and customer experience.

The regulatory framework is intended to apply minimum protection standards across all participants while allowing companies to differentiate through service, technology and entertainment.

Industry Context

Finland is moving from one of Europe’s remaining large monopoly models towards a hybrid gambling market.

The reform will preserve exclusive Veikkaus control across certain products while opening digital betting and casino activities to private licensees.

The central objective is not simply to increase competition, but to recover activity already taking place offshore and redirect it towards businesses that are licensed, taxed and supervised domestically.

Next Steps and Impact

Licensed gambling operations will begin on 1 July 2027, formally ending Veikkaus’ exclusivity across online betting and casino products.

The months ahead will focus on licensing decisions, technology preparation, marketing strategies and adaptation to the new consumer-protection requirements.

For Veikkaus, the reform represents both the loss of monopoly rights and an opportunity to compete in an environment where authorised rivals are subject to comparable rules.

The real test will come after launch, when Finland must demonstrate that it can raise channelisation, preserve an attractive licensed market and prevent increased commercial competition from producing higher levels of gambling harm.

Editó: @fonta