- Media
Finland’s re-regulation marks new era for Nordic iGaming
The President of Finland, Alexander Stubb, has formally given his final approval for the country’s new gambling regulations, with his final sign-off having come following the legislation’s approval in parliament on 16 December 2025.
The application window for B2C licences is set to open on 1 March 2026, while the B2B licence application window is set to open on 1 July 2027, which is the same day that the market officially opens. The Finnish Supervisory Agency is expected to assume responsibility for the issuing of licences on the same day, and B2B licences will be required from a year later on 1 July 2028.
Thoughts from senior iGaming consultant
Game Lounge Media spoke with Christoffer Grönlund, a senior iGaming consultant with over 18 years of experience in affiliate and performance marketing across multiple markets, including Finland, Sweden, Canada, and the United Kingdom.
He was asked for his thoughts regarding Finland’s iGaming market being set for re-regulation this year, as well as for his thoughts about what this means for both the local Finnish and international industry, and whether he anticipates if more Finnish players will return to the onshore market rather than playing with offshore operators.
Grönlund said that Finland’s upcoming re-regulation “marks a new era for the Nordic iGaming landscape,” as he commented that the move towards licensing is welcomed form a player protection and transparency standpoint, and that the early framework “raises serious concerns about channelisation and long-term viability”.
He stated that the potential exclusion of affiliate marketing from the Finnish ecosystem will likely backfire, as he said that affiliates are a critical part of the acquisition funnel, “especially in a bonus-driven market like Finland, where players actively compare offers”. He said that without affiliates, the licensed operators will face reduced visibility, while offshore brands may benefit from the lack of competitive pressure.
He continued that the restrictive approach to welcome bonuses is “another red flag,” as he commented that Finnish players are “extremely bonus-savvy,” and there is a risk of undermining the goal of the regulation if legal operators are capped too tightly, as Finland must ensure that the regulated market is both compliant and competitive if the goal is to bring players into the onshore, licensed environment and achieve high channelisation.
“That includes allowing performance marketing, flexible bonus mechanics, and efficient digital acquisition – all areas where affiliates strategies are currently essential. Otherwise, Finland risks shooting itself in the foot. The iGaming industry will be watching closely,” Grönlund concluded.
Finland’s iGaming market
During ICE Barcelona at the Gaming in Finland evening conference, H2 Gambling Capital COO Josh Hodgson had said that Veikkaus, a Finnish government-owned betting agency, currently has 40% of the total online market, followed by Stake with 14% having the second largest share. With the planned re-regulation, H2 predicted that Veikkaus’ share will drop to 30% by 2028, with significant changes in market share anticipated for 2027 and beyond. Hodgson had also said that the new regulations being introduced in Finland are expected to reverse the trend of Finnish players choosing to play with offshore operators, as he anticipates that the majority of players will participate within the protected onshore market.
Finland’s Interior Ministry stated that the aim of the reform is to “prevent and reduce the harm resulting form gambling and to improve the channelling rate of the gambling system”. It further described the channelling rate as “the amount of gambling that takes place using services regulated by national legislation and supervised by the national authorities”.
It continued that Veikkaus will retain the monopoly on lotter-type games, scratch cards, and physical slot machines and casino games, as it added that other European countries, such as Denmark and Sweden, have already introduced similar gambling systems which combine a monopoly and a competitive market approach.
The Interior Ministry added that Veikkaus will have a monopoly on providing gambling services until the end of June 2027, during which period “no other company may run or market gambling games”.
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