Half of Finnish Online Gambling Expenditure Now Flows to Offshore Instant Casinos as License Applications Open March 1, 2026
Ohio Pen/10320879

HELSINKI - OhioPen -- Approximately 50% of Finnish online gambling expenditure now flows to international instant casino operators, representing an estimated €780 million in annual offshore spending. This shift comes at a critical juncture as Finland prepares to dismantle its century-old state gambling monopoly in favor of a competitive licensing system.

The Decline of the Monopoly The state operator, Veikkaus Oy, has seen its market dominance erode significantly. By 2025, its share of total gambling plummeted to 48%, while its digital market share fell to just 36% - a sharp decline from its 61% total market share just one year prior. This accelerating player exodus is the primary driver behind the new Gambling Act, approved by Parliament in December 2025.

"Finnish players aren't waiting for regulatory reform. They've already created a competitive market by migrating to offshore instant casinos," says Compliance Specialist Antti Virtanen from Kasinohai.com, Finland's leading comparison platform. "The question isn't whether the market will open in 2027, but whether licensed operators can recapture the €780 million already flowing outside Finnish regulation."

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The Rise of Instant Casinos (Pikakasinot) Finnish players have overwhelmingly embraced "pikakasinot" - instant casinos that utilize Pay N Play technology to eliminate traditional registration. These platforms process withdrawals in 5-15 minutes, a stark contrast to the 3-5 days required by conventional sites. Research indicates that 78% of Finnish gamblers now prioritize withdrawal speed above all other factors, with mobile-first users aged 18-34 leading the migration. Most of these operators currently hold MGA or Estonian licenses, providing tax-free winnings and high security.

Historic Regulatory Timeline The transition to a multi-license model is now in its implementation phase. Key milestones include:

• March 1, 2026: B2C license applications officially open.
• July 1, 2027: Licensed operations commence. A 22% tax on Gross Gaming Revenue (GGR) will apply to all operators.
• July 1, 2028: Mandatory B2B software licenses take effect.

The reform aims to raise Finland's "channelization rate" from under 50% toward 80–90%, mirroring the successful Swedish model. Under the new law, Veikkaus will be split: one entity will retain a monopoly over lotteries and retail slots, while a separate subsidiary will compete for online revenue on equal terms with private companies.

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Navigating a €2.4 Billion Opportunity With Finland's total gambling market reaching €2.4 billion in 2025, the government currently misses out on significant tax revenue due to offshore spending. To combat this, the new regime introduces strict enforcement tools, including administrative fines and the potential for domain blocking of unlicensed sites.

Kasinohai's Role in the Transition As the market evolves, Kasinohai.com serves as an essential hub for transparency. By verifying withdrawal speeds and monitoring which operators are applying for the new Finnish license, Kasinohai helps players distinguish between secure, compliant sites and unregulated alternatives. Their guides provide verified data on payment compatibility (Trustly, Brite, Zimpler) and licensing clarity, empowering consumers to make safe decisions throughout the 2026-2027 transition.