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Finland becomes the final EU member state to transition from monopoly to multi-licensing system, with new framework taking effect in July 2027.
Mar 9, 2026 · 6 min read
Finland's President Alexander Stubb has approved groundbreaking legislation that will dismantle Veikkaus' monopoly on online gambling, positioning Finland as the last EU country to embrace multi-licensing. The move marks the end of an era for fully exclusive online gambling monopolies across the European Union.
The transition gained overwhelming political support, with 95% of Finnish parliamentarians voting in favor of the new multi-licensing framework. This decisive parliamentary backing underscores the broad consensus that monopoly systems no longer serve modern gambling regulation needs effectively.
The new regulatory structure is scheduled to take effect on 1 July 2027, giving the market and operators time to prepare for the transition. Notably, Veikkaus, the state-owned operator that has held the monopoly, actively supported the legislative change, recognising the benefits of competition and a more balanced competitive landscape.
95%
Finnish parliamentarians voting in favor
July 1, 2027
New framework effective date
321
Online gambling licences held by EGBA members
21
European countries with EGBA member licences
30%
Share of Europe's online gambling revenue
20 years
European regulatory experience period
The European Gaming and Betting Association (EGBA) has long advocated for this regulatory shift, viewing Finland's decision as validation of multi-licensing principles across Europe.
"We're pleased that Finland has finally moved to a multi-licensing system for online gambling. The momentum towards multi-licensing in Europe is now complete."
— Maarten Haijer, Secretary General of EGBA
The completion of Finland's transition means that every EU member state regulating online gambling now operates under multi-licensing frameworks, representing a fundamental shift in European gambling regulation philosophy.
"Governments have concluded that public policy objectives, particularly related to consumer protection, are more effectively met through well-regulated online competition fostered by multi-licensing."
— Maarten Haijer, Secretary General of EGBA
While the EU has completed its transition to multi-licensing, Norway and Iceland maintain fully exclusive monopoly systems outside the union. EGBA analysis from 2024 shows that several European countries still maintain monopolies or restrictions for specific online gambling products, creating regulatory inconsistencies across the continent.
"Similar deliberations about licensing are inevitable in Norway and Iceland – it's only a matter of time. With nearly 20 years of regulatory experience in Europe, it's clear that full multi-licensing, for all products, offers the best pathway to create a well-regulated, competitive and consumer-centric market."
— Maarten Haijer, Secretary General of EGBA
Remaining European Monopolies
While Finland completes the EU's transition to multi-licensing, Norway and Iceland maintain fully exclusive monopoly systems outside the union. EGBA analysis shows several European countries still maintain monopolies for specific online gambling products, creating regulatory inconsistencies across the continent.
The regulatory evolution addresses a critical industry concern: channelling players away from unregulated black market operators. EGBA emphasises that suboptimal regulatory frameworks, including monopoly systems, inadvertently drive consumers toward unlicensed platforms where consumer protections are minimal and tax revenues are lost.
Multi-licensing systems provide competitive regulated alternatives that can more effectively compete with black market offerings, while offering better consumer protection and generating legitimate tax revenue for governments.
Important
Finland's reform demonstrates that even countries with entrenched monopoly traditions can successfully modernise their regulatory frameworks for the digital gambling age.
EGBA represents leading online gambling operators across Europe, with members collectively holding 321 online gambling licences across 21 European countries. These operators account for approximately 30% of Europe's online gambling gross gaming revenue, providing significant scale and influence in regulatory discussions.
Beyond licensing compliance, EGBA members adhere to industry standards covering responsible advertising, anti-money laundering, and player protection. The association also organises the annual European Safer Gambling Week, bringing together stakeholders to promote safe and sustainable gambling practices.
Market Competition Strategy
Multi-licensing systems provide competitive regulated alternatives that can more effectively compete with black market offerings while offering better consumer protection and generating legitimate tax revenue for governments. This approach addresses the critical challenge of channeling players away from unregulated operators.
Finland's decision caps nearly 20 years of regulatory experience across Europe, during which evidence has consistently supported multi-licensing approaches over monopoly systems. The transition reflects growing recognition that competitive, well-regulated markets better serve consumer needs while achieving public policy objectives more effectively than exclusive operator arrangements.
The Finnish parliament's overwhelming support suggests that political consensus around multi-licensing principles has solidified, even in countries with historically strong state gambling monopolies.
Finland's transition completes a significant regulatory harmonisation across the EU, creating more consistent frameworks for operators and clearer pathways for consumer protection. With all EU gambling-regulating states now operating multi-licensing systems, the focus shifts to ensuring comprehensive coverage across all gambling products and maintaining effective black market enforcement.
The precedent set by Finland's successful transition may influence remaining monopoly jurisdictions beyond the EU, particularly as evidence continues mounting in favour of competitive regulatory frameworks. For operators, the completion of EU multi-licensing creates more predictable regulatory landscapes and expanded market access opportunities across member states.
The new regulatory structure is scheduled to take effect on July 1, 2027. This timeline gives the market and operators sufficient time to prepare for the transition from the current Veikkaus monopoly system.
Veikkaus, the state-owned operator that has held the monopoly, actively supported the legislative change. The company will transition from being the sole operator to competing alongside other licensed operators in a multi-licensing framework.
Within the EU, Finland was the last country with a fully exclusive online gambling monopoly. Outside the EU, Norway and Iceland still maintain fully exclusive monopoly systems, though EGBA suggests similar licensing deliberations are inevitable in these countries.
According to European Gaming and Betting Association.
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