The National Police Board of Finland has received 50 license applications for the upcoming online gambling market. The majority of these submissions originate from international operators.
The application count has doubled since late March, when records showed 24 operators had registered interest. Each applicant pays a processing fee of €29,000 to initiate the review. Juha Katainen, a senior advisor at the Gambling Administration, noted that the high volume of foreign companies increases the complexity of evaluating submissions.
The authority focuses on the reliability and financial stability of applicants to mitigate risks such as money laundering.
Regulatory Details and Market Outlook
Finland plans to launch the liberalized iGaming market in 2027, replacing the current monopoly held by Veikkaus. While the legislative framework passed in January, industry stakeholders are awaiting specific regulations regarding advertising and player protection. Jarkko Nordlund, head of icasino and sportsbook at Veikkaus, emphasized the need for clarity on these operational details.
Meanwhile, industry consultant Jari Vähänen recently valued the state-owned gaming group at €4.5 billion amid rumors of a potential sale.
Earlier estimates suggested that the market would support approximately 40 to 50 licenses upon launch. The current number of applications indicates that this projected capacity has already been reached more than a year before the scheduled market opening.