Finnish iGaming Conference 2025 Highlights Roadmap for Finland’s Market Reform

Finland’s Gambling Market: Current Status and Upcoming Licensing Model

Jari Vähänen of Finnish Gambling Consultants provided a comprehensive update on the Finnish gambling reform. Veikkaus’ overall market share has now dropped below 40% and its online market share to just 25%, underscoring the need for structural change.

The new system will introduce five-year licenses with an initial processing period of 6–9 months, a dedicated regulator starting in 2027, and strict rules on operator eligibility. Marketing will face significant restrictions: influencer and affiliate marketing will be prohibited, while sponsorships and traditional media remain partly allowed. Credit card payments and welcome bonuses will be banned, and operators will pay a 22% lottery tax plus a supervision fee scaled to GGR.

Vähänen emphasized that effective enforcement against unlicensed operators is essential to avoid repeating mistakes seen in Sweden, where disproportionate action against licensed companies weakened channelisation.

Industry Perspective: The End of Monopoly Thinking

Mika Kuismanen, CEO of Rahapeliala ry, argued that Finland’s monopoly model is no longer fit for purpose. He stressed that reform is essential to meet consumer expectations, address gambling-related harm, and strengthen tax revenue.

Kuismanen outlined the reform’s benefits – including alignment with Sweden and Denmark, sensible bonus regulation, and robust responsible gambling measures – but also warned of risks related to over-regulation, technical complexity, and shifting public opinion. He called for data-driven analysis at the individual level, rather than relying solely on surveys or external research.

Affiliate Ban Sparks Debate

Reijo Anttila from Finnish Gambling Consultants explored the market consequences of banning affiliate marketing. Affiliates currently drive up to 90% of traffic for some offshore casino operators, and banning them could harm channelisation efforts by pushing players to unlicensed platforms.

Market forecasts suggest that by 2030, Finland’s market will stabilize at 60–70% licensed share, with total revenues surpassing €2 billion – a return to 2017 levels. However, Anttila warned that bonus restrictions and the affiliate ban could trigger a second legislative review as early as 2028.

Legal Insight: Transparency and Preparation

Minna Ripatti (Legal Gaming Attorneys at Law) moderated a legal session with Laura Liehu and Pekka Ilmivalta (Nordic Legal). Panelists confirmed that license applications will be fully digital, with electronic signatures accepted, and cautioned companies to safeguard trade secrets due to Finland’s highly transparent legal environment.

Fees will start at €10,000 and adjust annually based on company performance. Both Liehu and Ilmivalta stressed the need for companies to prepare documentation early, as a surge of marketing activity is expected after launch.

Understanding the Finnish Gambler

Jenni Lieto, Content Director at Sanoma Media Finland, presented key data on Finnish gambling habits:

• 71% gamble primarily to win money, reflecting a rational, goal-driven approach rather than impulse-based entertainment.

• Finland lags behind Sweden in digital adoption but has the highest trust in news media globally.

• Marketing campaigns should leverage trust and Finland’s collective memory, which resonates strongly with consumers.

Sponsorship Growth and Passion Marketing: Driving Emotional Engagement

Klaus Virkkunen, Research Director at Sponsor Insight, revealed that Finnish sponsorship, event marketing, and brand activations now total €488 million annually, with sports dominating investment. Virkkunen emphasized the power of fan engagement and cross-sport opportunities, such as basketball and ice hockey, which share overlapping audiences. He also highlighted Finland’s unique combination of media fragmentation and trust, which creates opportunities for highly targeted campaigns.

Jere Virtanen, CEO of Passiofy, expanded on the role of passion marketing in this evolving landscape. Virtanen explained how passion marketing goes beyond simple endorsements, integrating data-driven, strategy-first campaigns into the heart of a brand’s marketing mix. This approach leverages public figures and emotional connections to build loyalty, while clear metrics and continuous measurement ensure a strong ROI.

Both speakers underscored that emotional engagement, authenticity, and data-backed decision-making will define successful marketing strategies in Finland’s regulated market.

Marketing and Media Perspectives

A panel moderated by Jenni Lieto featured Teemu Savolainen (Sanoma), Christoph Wilk (Bauer Media), Joonas Partanen (Alma Media), and Klaus Virkkunen. Panelists emphasized that Finland’s high trust in media is a competitive advantage, but innovation will be needed to cut through post-launch advertising noise. Music and sports sponsorships were identified as powerful channels for engagement and growth.

Responsible Gaming: Compliance and Innovation

Moderated by Stephen Auphy (Mindway AI), the Responsible Gaming panel included Heikki Koivula (Legal Gaming Attorneys at Law), Niklas Bondestam (Ubetec), and Lassi Rajamäki (Sosped). The discussion highlighted the need for proactive compliance testing due to the regulator’s small size, and Rajamäki emphasized the importance of early intervention for vulnerable groups, especially young men at risk of social exclusion. The panel agreed that AI-driven protection tools will likely play a central role within five years.

Lessons from Denmark’s Licensing Journey

Mikael Bäcke, CEO of Hippos ATG, presented Denmark’s regulatory experience since 2012. Denmark has achieved a channelisation rate of over 90%, but illegal operators remain an ongoing challenge, with enforcement often targeting licensed companies instead.

Bäcke predicted Finland’s market will face a “marketing war” in its first year, followed by declining channelisation in 2028 due to bonus restrictions, marketing limits, and affiliate bans. He expects a second round of regulatory adjustments within a year, noting that Denmark remains a success story but requires ongoing refinements.

B2B Licensing in 2028: Expanding Regulatory Oversight

Jaakko Soininen (Finnplay) led a keynote and panel discussion with Vasilije Lekovic (Trustly), Timo Kiiskinen (Fennica Gaming), Fredrik Cedell (Bejoynd), and Roope Lindroos (Trumo). Panelists welcomed B2B licensing as a transparency tool but called for broader measures, such as including payment providers and increasing international cooperation, to curb black market growth.

Operator Panel: Industry Leaders Call for Reform

A high-level panel with Velipekka Nummikoski (Veikkaus), Dainis Niedra (Entain), and Christer Fahlstedt (Paf) confirmed that Finland’s monopoly exists “only on paper” and that licensing is essential to raise channelisation, improve fairness, and strengthen consumer protection.

Conclusion

The Finnish iGaming Conference 2025 offered a comprehensive roadmap for Finland’s transition to a licensed gambling market. With contributions from leading executives, regulators, legal professionals, and media experts, the conference underscored that achieving a functional, fair, and competitive market will require bold collaboration, regulatory agility, and innovative thinking.

As Finland approaches the 2027 rollout of its licensing system, the insights shared at Kalastajatorppa will help shape a responsible and sustainable future for the Finnish gambling industry.