On October 24, Betsson, the Swedish gambling operator, was officially removed from Finland’s payment blocking list, closing a tumultuous year marked by legal challenges and regulatory scrutiny. This development represents a significant turning point for Betsson, which has reported impressive Q3 revenues and is now poised to expand its influence in the Finnish market.
The Finnish National Police Board (NPB) has lifted the restrictions that mandated banks and payment service providers to block transactions between Finnish consumers and Betsson’s former parent company, BML Group. This removal leaves the list empty—an unusual occurrence since the NPB began using this enforcement tool.
This event concludes a protracted legal battle for Betsson, which took the NPB’s decision to Finland’s Supreme Administrative Court. In December 2024, the court upheld the regulator’s authority, although the drawn-out process extended Betsson’s listing on the enforcement list beyond its original expiry date.
The enforcement action was originally triggered by a €2.4 million ($2.8 million) fine imposed in May 2023, on allegations that Betsson targeted Finnish customers with its marketing efforts. At that time, Finland upheld a state monopoly on gambling through Veikkaus, which made any foreign operators’ involvement unlawful. Betsson has consistently refuted these claims, maintaining that it never intentionally targeted the Finnish market.
Despite not overturning the ruling, Betsson’s removal from the list signifies the end of a contentious period. The timing is fortuitous, coinciding with Betsson’s robust financial performance in Q3 2025. The company reported a 6% year-on-year increase in revenue, reaching €295.8 million ($342.3 million), and a 3% rise in EBITDA to €82.5 million ($95.48 million), bolstered by record casino revenue and growth in Western Europe.
In a broader context, the Finnish government’s recent legislative move could reshape the market landscape significantly. A new bill submitted to the Finnish Parliament aims to dismantle Veikkaus’s longstanding monopoly and establish a licensing regime for online gambling by 2027. This change would allow private operators like Betsson to enter the market legally, provided they adhere to compliance and responsible gambling standards.
Betsson’s exit from the blacklist restores more than just its transactional capabilities. It positions the company advantageously ahead of Finland’s anticipated market liberalization. With a strong presence in neighboring regions and an emphasis on innovation, Betsson is well-placed to capitalize on new market opportunities.
The potential opening of the Finnish market could be a game-changer for Betsson. The company could benefit from its existing infrastructure and experience in regulated markets to gain a foothold in what many see as a lucrative opportunity. This sentiment was echoed internally as optimism about penetrating a previously restricted market grew.
Not everyone is unanimous in their outlook, however. Some industry analysts caution that the transition from a monopoly to a more open market will not be without challenges. They argue that established entities like Veikkaus have a deep-rooted presence and consumer loyalty that new entrants will need to overcome. Furthermore, as the market opens, the influx of new operators could lead to increased competition, potentially squeezing margins.
Critics of the proposed legislative changes worry about the implications for responsible gambling. They argue that increasing the number of operators might lead to more aggressive marketing tactics and could potentially increase the prevalence of gambling problems. The Finnish government has emphasized that any new licensing framework will include stringent regulations to mitigate such risks.
Betsson remains optimistic about its future prospects. The company is eyeing Finland not just as a standalone market, but as part of a broader strategy to strengthen its position across Europe. By leveraging its technological advancements and customer-centric approach, Betsson aims to offer unique value propositions that appeal to Finnish players.
The journey for Betsson in Finland is emblematic of the broader shifts occurring in the European gambling landscape. As more jurisdictions reconsider monopolistic structures, operators are preparing to navigate a complex web of new regulations, competition, and market dynamics. Betsson’s success in adapting to these changes could serve as a blueprint for other operators looking to expand their reach in the evolving European market.
In summary, Betsson’s clearance from Finland’s payment blocking list reflects both a legal victory and a strategic opportunity. As Finland moves towards a more open gambling market, Betsson is well-prepared to engage with and potentially lead in this new environment. While challenges remain, particularly in terms of competition and regulatory compliance, the potential rewards affirm Betsson’s strategic focus on growth and market expansion.
