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An overview of the current legal landscape for iGaming in Finland
As multiple European countries modernize their online gambling approaches, Finland is following the same path as other Nordic nations.
Denmark first welcomed legalized and properly legislated gambling to their shores in 2012, Sweden rolled out their landmark changes in 2023, and Finland is now joining the iGaming revolution.
While we’re at the inception of this story, with many iGaming companies not set to break digital ground in Finland until at least next year, companies that provide ancillary websites have already begun preparing for this significant shift in the Finnish gambling scene. Sites like kasinonetti.com collate the best that these platforms have to offer, compiling lists of those with the most enticing bonuses, the best range of games and the highest levels of customer service.
These sites also give their experts free rein to explore what these promising platforms have to offer — both old and new. However, today, we’re focusing on the current legal landscape for iGaming in Finland and how recent announcements will transform it in the not-too-distant future.
A brief history of Finnish gambling
Nationwide competitions like the lotto have been ingrained into Finnish culture for over half a century, but there’s a more complex relationship with iGaming. While iGaming encompasses both digital casinos and sports betting platforms, the existence of one sole brick-and-mortar casino in Helsinki indicates the current lack of options within the country.
Lotto and sports betting are overseen by the same centralized body, but the change in legislation will open up this playing field to a range of new providers. Digital gambling is a new frontier, and as far as legislated industries go, it is still in its early stages despite being around since the 1990s.
The 2001 Lotteries Act classified iGaming as a lottery, but the market was closed to overseas providers. The 2016 amendments updated the legislation to include more modern forms of iGaming, such as virtual currency casinos and mobile apps. There was no wiggle room for international platforms to offer their services to Finnish customers, with all the activity going through Veikkaus.
Landmark changes ahead
Transforming and ratifying new gambling policy isn’t something that happens overnight. The Finnish government has made no secret of its plan to end the Veikkaus monopoly of the iGaming sector within the next three years. The UK sector is further ahead of the curve than Finland, and there are record multi billion profits that highlight the potential tax base for Finnish regulators if they get it right.
Balancing industry interest with providing fair and well-legislated platforms for Finnish gamers is essential. Here are the three key upcoming periods to keep an eye on:
- January to March 2025: A draft bill will be presented to legislators. Any amendments to Finnish legislation usually occur in February.
- January 2026: This is the provisional opening date for operators to apply for their iGaming license — a watershed moment in Finnish gambling. Once we get closer to this date, it’ll be among the top operator news as the prominent iGaming companies aim to stake their claim on the Finnish market.
- Q4 2026: Veikkaus’ sole grip on the Finnish market will end. They will be divided into two sectors: one overseeing their iGaming enterprise and another for land-based operations and traditional lotteries.
Current rules for Finnish iGaming
Although each country regulates its legal gambling industry with specific, local nuance, operators that fall foul of it or have to shut down for a few days due to regulatory breaches know all too well just how much money it can cost. Until the wheels start turning to achieve the steps we discussed in our last section, the National Police Board will oversee and regulate the market.
As you can imagine — this is something that’s in transition at the moment. Following the change to the iGaming approach in Finland, the Ministry of Finance is now set to modernize it, appointing a specific board to prevent black market gambling. This has proven to be a problem in big markets like the US, where over half of all Super Bowl bets were placed via black market or unlegislated providers.
It’s a growing problem in the digital age, but the Finnish regulators have a good vantage point. They can see how other countries are dealing with the problem and will be able to incorporate similar changes into their iGaming legislative amendments.
Responsible gambling
One reason Finnish regulators have lagged behind some of the other European gambling markets is that they wanted to ensure they could create legislation that ensures the small percentage of gamblers who develop an issue can seek the help they need as quickly as possible.
Many countries use a slice of the profits that gambling companies pay in taxes to fund organizations that help people who have a gambling issue, and there are plenty of options available to help those who think they, or a friend, may have an issue.
There are many warning signs to be aware of. Some of the most common signs include gambling with money you can’t afford to lose, seeing gambling as a form of income or gambling having a detrimental impact on close friendships and relationships.
Closing words
While the current legal landscape for iGaming in Finland is entirely fit for purpose, with other Nordic countries bringing in new iGaming legislation, and given that Finnish society has been partial to land-based casino operations in the past, it only made sense to transition it online and tax it accordingly.
It will look totally different within the next three years. Regulators in Finland are doing it correctly as they aren’t rushing the process, and they’re making sure that they cover all the angles. They’re setting up a brand-new legislative body to ensure that they have all the measures in place to cover all the legalities, so Finnish gamers can explore the full scope of the iGaming market.
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