Finland's gambling market is preparing to transition to a licensed model by July 2027, allowing for online casinos and betting. As this significant change approaches, the initial wave of companies vying for a stake in this lucrative market has begun to submit their license applications. A total of 22 companies are reported to be in the running, predominantly from outside Finland, raising questions about local participation in the emerging market.

Among the candidates, Hippos ATG Oy stands out as the only company with a clear Finnish connection. Formed in collaboration between the Finnish equestrian organization Suomen Hippos ry and the Swedish betting company ATG, Hippos ATG Oy plans to distribute its gambling revenues with 60% going to the Finnish organization and 40% to ATG. This partnership highlights a potential for Finnish involvement in the industry, yet it raises concerns about the dominance of foreign firms in a market that should ideally benefit local stakeholders.

The majority of applicants, 19 out of 22, are registered in Malta, a well-known hub for the gambling industry. This raises implications regarding taxation, regulatory oversight, and consumer protection in Finland. The presence of so many foreign companies could lead to reliance on international entities for gambling services, potentially undermining the local economy and the objectives of Finland's gambling regulations. With the significant license applications now on the table, discussions about the future of the gambling landscape in Finland are becoming increasingly urgent and complex.