Jan Hagelberg, the Senior Vice President of International Business at Finland’s Veikkaus, (photo above), has projected that the Finnish authorities will commence the issuance of gambling licenses by September 2026. Hagelberg expressed confidence in the thriving future of Veikkaus post-market launch, stating, “We understand the business, and there’s a lot happening: technological advancements, responsibilities, platforms, and new talent from companies like Kindred. We’ve even recruited individuals from PokerStars. We’re quite busy on all fronts.”

This prediction comes as Finland prepares to inaugurate its regulated market, with the government pledging to implement the new system no later than 2026. This represents a significant shift from the current monopoly model, where the state-owned Veikkaus holds exclusive rights to offer iGaming and sports betting. The existing system has largely been deemed unsuccessful in achieving its channelization objectives, with a substantial portion of revenue remaining in the unregulated segment.

Legal advisor Antti Koivula, a Finnish market expert at Legal Gaming Attorneys at Law, indicated that some form of Payment Service Provider (PSP) payments blocking would likely persist under the new regime. This system, introduced in 2023, has been criticized for its ineffectiveness.

Currently, no entities are listed on the Finnish National Police Board’s (NPB) PSP blocking blacklist. Betsson’s holding company, BML Group, was the first to be blacklisted in February, following a decision by the Helsinki Administrative Court. However, the order was suspended by the Supreme Administrative Court pending the conclusion of the case.

Mansoori added, “Once the licence regime is implemented, the circumstances would be much more challenging for the operators – because then you cannot just change companies, you need to have a Finnish license at that time.”

Restrictions and path forward

Influencers and streamers may face stringent regulations however a balanced system would see the government concentrate on areas with a high prevalence of underage users, such as certain social media platforms. This approach would ensure the protection of vulnerable groups while allowing the industry to flourish in a regulated environment.

The Finnish gambling landscape is set for a significant transformation come 2026. As the country moves away from a state monopoly towards a regulated market, the industry is poised for exciting times ahead. The journey may be fraught with challenges and controversies, but the potential rewards promise a vibrant and thriving gaming sector.

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