Legal Betting in Finland

Introduction

The gambling market in Finland is strictly regulated, due to a state monopoly, which has also developed due to legislative changes in the recent past. In this piece, you can find out whether Finland sports betting is legal or not, what popular companies and land-based spots you can bet at and of course, what bets you can make and what legislation regulates the niche. It also covers the gambling universe more broadly, going into detail about other market dynamics, consumer insights and inspiration predictions.

Legal Framework

Gambling activities in Finland are regulated by the Lotteries Act, which has long provided a state-run monopoly for the national lottery organization Veikkaus Oy to operate gambling, sports betting, and lotteries as well as casino games. Created to encourage responsible gaming, reduce social harm, and fund public charities including education, health and the arts this monopoly was put in place. The gambling age is 18, identity verfication is required of any players and anti-money laundering regulations must be adhered to.

In 2025, Finland introduced major changes to liberalize its monopoly system into a competitive licensing model, the new law would be in place in 2026. This move paves the way for private players to bid for licences, promoting competition with stringent regulation. Measures to promote responsible gambling, including player verification, advertising restrictions and sending players warning messages about gambling risks, will be supervised by the supervisor. Unlicensed gambling is still a crime, punishable for the operators.

Common Companies and Stores Offline

The Finnish gambling market is to a great extent monopolised by Veikkaus Oy and includes an extensive selection of betting options online and with retail distributors. Its land-based network consists of bookmakers’ shops, kiosks and corners in supermarkets and convenience stores, most of which feature self-service terminals for betting. These are plentiful, especially in cities such as Helsinki, Tampere, and Turku, meaning that bettors do not need to travel far to find one.

With the opening of the market to competition, international operators are lining up to enter Finland under the new licensing regime. Despite remaining the largest operator, the entrance of private companies will create a more varied offer, with new betting platforms and better looking customer experiences.

Types of Bets

Finnish bettors have access to a variety of betting options, primarily through Veikkaus. Sports betting is the most popular, covering football, ice hockey, basketball, and motorsports. Common bet types include:

• Moneyline Bets: Wagering on the outright winner of a match or event.
• Over/Under Bets: Predicting whether the total score will be above or below a specified threshold.
• Handicap Bets: Adjusting the odds by giving one team a virtual advantage or disadvantage.
• Live Betting: Placing bets during an event, with odds updated in real time.
• Accumulator Bets: Combining multiple selections into a single bet for higher potential payouts.

In addition to sports betting, Veikkaus offers betting on horse racing, virtual sports, and non-sporting events, such as political elections or entertainment awards, though these are less common.

Key Information About Betting in Finland

• Regulatory Body: Finnish Ministry of the Interior and the National Police Board oversee gambling activities.
• Taxation: Betting winnings are tax-free for players, but operators face taxation under the new licensing system.
• Market Size: Estimated annual revenue of €1 billion, expected to grow with market liberalization.
• Player Protections: Mandatory self-exclusion options, spending limits, and access to gambling addiction support services.
• Licensing Timeline: Applications for private operator licenses begin in 2026, with operations starting in 2027.

Table: Betting Market Overview

Market Dynamics

Veikkaus has high public trust in the Finnish gambling market due to their state-controlled and socially responsible offering. But the monopoly has drawn criticism for stifling consumer choice and innovation. The proposed licensing model is intended to address some of these fears by making it possible for private operators to compete and bring in modern technology such as mobile applications with augmented reality and blockchain-based betting systems. This shift would generate advertising revenue that would also be closely regulated to ensure that vulnerable audiences are not harmed.

Consumer Behavior

Finnish punters are mainly 18–45 year old men who like sports betting, most notably on domestic ice hockey tournaments and international soccer games. Online betting has soared, boosted by easy-to-use mobile apps, but old-fashioned high street outlets remain popular with older customers. Gambling operators’ social responsibility measures – such as self-exclusion and spend limits – have also shaped consumer behaviour, promoting moderation. Public education campaigns also help keep betting as a form of entertainment rather than an income.

Technological Advancements

New Tech to Transform the Betting Market in Finland. Veikkaus has recognized the future is digital and made a digital investment, providing online and mobile betting experience with no friction. Live streams of races, added to betting platforms, make users more engaged. The introduction of private operators is also expected to lead the way for artificial intelligence-based personalized recommendations and data analysis to forecast market trends to the betting industry. These innovations are to enable better user experience in line with regulators.

Social and Economic Impact

Gambling in Finland is big business and surplus profits generated through Veikkaus fund public services. But, problem gambling is still an issue, so the government has put in place strong harm minimisation measures. The transition to the market invites the question of what the trade-off between economic expansion and wellbeing should look like. It is the responsibility of regulators to make sure private operators follow responsible gambling, preserving the public benefit nature which has characterised Finnish betting.

Conclusion

Finland's gambling market now finds itself at a crucial junction, as it moves from a state monopoly environment to a competitive market. The gambling operator Veikkaus Oy still holds the monopoly and the leader in the industry with its wide-spread offline booths and the various betting ranges. The Gaming and Lotteries Act and future licensing regime will provide for a controlled environment where responsible gambling and public welfare are at the forefront. One can only hope that as the market matures, new technology and new players will redefine the betting landscape further, giving consumers more choice but not at the expense of proper regulation. “This has been a matter very close to our heart for a very long time,” he said. “When Betting Act went through, after many failed attempts, we politic parties agreed to not exclude the military sports organisations from the monopoly and ban certain military sports.