(AsiaGameHub) – A substantial number of companies are anticipated to seek iGaming licences in Finland, as the market prepares for its scheduled launch in 2027.
During a recent Gaming in Finland webinar, Pekka Ilmivalta, Head of the Finland Office at Nordic Legal, revealed that 28 companies have already applied for a licence to provide iGaming products to players when the liberalised iGaming market commences on 1 July next year.
By autumn of this year, the total number of iGaming licence applications is projected to approach 50. It remained unspecified whether this figure encompassed only operators, platform brands, or also included suppliers, but prospective companies are advised to initiate their preparations promptly to participate in the commercial market from its inception.
Ilmivalta commented: “We are currently experiencing a very active period. The application process is underway. As per last Sunday’s newspaper, we have received 28 applications to date. I am confident that we will reach around 50 applications by the end of the year.
“Other ongoing preparations include the development of business plans, media marketing strategies, establishing media relations, securing sponsorships, and the incorporation of businesses and activities within Finland, indicating significant activity.”
Ilmivalta further noted: “Regulators have indicated that the initial licences will be issued in the autumn. This is the current expectation communicated by the regulatory body.”
“I am confident that we will be approaching 50 applications by the close of the year.”
Pekka Ilmivalta, Head of the Finland Office at Nordic Legal
Further Tasks Ahead
Ilmivalta stated that operators are awaiting guidance on various subjects, including marketing and responsible gambling, but are proceeding with other business development areas after submitting their licence applications.
“Operators are preparing for and submitting applications, but not all preparations conclude upon application submission or even licence approval. There remains a considerable amount of work.
“Numerous policies and rules still need to be drafted post-application. This includes subsequent legal work, as well as marketing and responsible gambling guidelines. We anticipate receiving advice and guidance from regulators, likely in Q1 2027, but the exact timing remains to be seen. Much work is still required.
“Conversely, many other aspects need consideration and preparation to be ready in approximately 13 months. From our perspective, we wish to remind stakeholders that they can always submit questions to the National Police Board, the regulator. We will do so for some of our clients, but the option to seek clarifications for any ambiguities is always available.”
The Finnish iGaming Market
Once Finland’s iGaming market launches next year, commercially licensed operators will be permitted to provide sports betting, online casino games, online slots, and online money bingo.
However, Veikkaus will maintain exclusive control over Lotto, Eurojackpot, and physical slot machines. Despite this, the state-owned operator supports market liberalisation and equitable competition among operators as a means to counter the growing impact of the black market.
The Finnish Gambling Act mirrors the licensing systems of neighbouring Nordic nations, Denmark and Sweden, aiming for channelisation through a comprehensive and competitive licensed market to safeguard players from gambling-related harm.
A detailed analysis of the Finnish iGaming market’s regulation and direction was recently presented to iGaming Expert by Jon Hautamäki and Niko Hannolainen from Nordic Law. The analysis encompassed topics such as duty of care, marketing, technical standards, software licensing, AML, and future developments.
The Gaming in Finland webinar additionally included contributions from Peter-Paul de Goeij, Managing Consultant at Quod Bonum Consulting; Niklas Bondestam, Chief Operating Officer at Ubetec; Jaakko Soininen, Managing Director at Finnplay; and Clémence Barret, Head of Direct Sales Gaming & Online at Docaposte Trust & Sign, with Gaming in EU Founder Willem van Oort serving as host.
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