When Finland opens its online gambling market to private operators in July 2027, the government’s primary objective is clear: bring more players into the regulated system.
The new licensing model is designed to improve channelisation, the proportion of gambling that takes place on licensed operators rather than offshore websites beyond the reach of Finnish authorities. Success will ultimately depend on whether the regulated market can persuade players to leave international gambling sites behind.
Yet one aspect of the reform raises an important question. While cryptocurrency gambling continues to grow globally, licensed operators in Finland will not be allowed to accept crypto payments. The decision reflects legitimate regulatory concerns, but it may also make the regulated market less attractive to a growing segment of consumers.
Bitcoin casinos are gaining momentum
Just a few years ago, Bitcoin casinos were considered a niche corner of the gambling industry. Today, they have become an increasingly mainstream alternative.
Modern crypto casinos typically accept not only Bitcoin, but also Ethereum, Solana, Litecoin and stablecoins. Players are drawn by fast transactions, around-the-clock availability and the ability to transfer funds without relying on traditional banking systems. Many of the newest international casino brands now launch with Bitcoin support from day one, Kryptokasinot.io reveals.
The trend is becoming visible in Finland as well. Search data from Ahrefs shows a sharp increase in Finnish searches related to Bitcoin casinos over recent years, suggesting growing consumer interest in crypto gambling. While search volumes do not necessarily reflect the number of active players, they provide a strong indication that crypto gambling is moving into the mainstream.
A reform built around channelisation
The government’s decision to replace Veikkaus’ monopoly with a licensing system is intended to channel more gambling activity back into the regulated market.
This matters because regulation can only protect consumers who actually gamble within the system. Responsible gambling tools, anti-money laundering measures, advertising rules and taxation all depend on players choosing licensed operators instead of offshore websites.
For that reason, channelisation has become one of the most important indicators of whether Finland’s gambling reform succeeds.
The challenge is that the regulated market must not only be safer than offshore alternatives—it must also remain competitive enough for players to choose it voluntarily.
Finland is following Sweden’s regulatory model
Finland’s reform does not exist in isolation. Much of the proposed framework closely resembles the licensing model Sweden introduced in 2019, replacing its gambling monopoly with a regulated competitive market.
Both countries share the same overarching objective: increase channelisation by encouraging players to choose licensed operators over offshore websites. The two systems also have many regulatory features in common, including strict responsible gambling requirements, tighter controls on gambling advertising, enhanced regulatory oversight and restrictions on bonuses intended to reduce excessive gambling incentives.
The proposed ban on cryptocurrency payments follows that same cautious philosophy. Rather than embracing emerging payment technologies, Finland has chosen to prioritise regulatory oversight and financial transparency.
Sweden’s experience also demonstrates why channelisation remains such an important benchmark. Despite operating one of Europe’s most established licensed gambling markets, Swedish authorities have continued to express concern about players using unlicensed operators that offer products or features unavailable within the regulated market.
As Finland prepares to implement a remarkably similar framework, policymakers will undoubtedly hope to avoid the same outcome.
Why crypto payments remain controversial
The government’s decision to prohibit cryptocurrency payments is understandable from a regulatory perspective.
Authorities have prioritised customer identification, anti-money laundering controls and payment transparency throughout the new licensing framework. Traditional payment methods generally fit more easily within these requirements than cryptocurrencies, particularly when transactions involve providers outside established financial systems.
However, cryptocurrencies themselves have changed considerably in recent years.
The European Union’s Markets in Crypto-Assets (MiCA) Regulation has introduced a comprehensive regulatory framework for crypto-asset service providers across the EU. Licensed providers are now subject to customer verification, anti-money laundering requirements and ongoing supervision, bringing many mainstream crypto services closer to the standards expected of traditional financial institutions.
This does not eliminate every concern. Privacy-focused cryptocurrencies and unregulated exchanges continue to pose challenges. But the regulatory landscape surrounding digital assets is considerably more mature than it was only a few years ago.
The channelisation dilemma
The key question is not whether cryptocurrency gambling should be encouraged.
It is whether prohibiting crypto payments within Finland’s licensed market will actually reduce crypto gambling.
Players who prefer using cryptocurrencies will still be free to access offshore crypto casinos that actively target international customers. Those operators remain outside Finland’s licensing regime regardless of whether domestic operators are allowed to accept digital assets.
In practice, the restriction applies only to licensed operators.
If cryptocurrency becomes an increasingly popular payment method, some consumers may simply continue gambling on offshore websites rather than switch to the regulated market. That could make it more difficult to achieve the very channelisation targets that underpin Finland’s gambling reform.
Whether this becomes a significant issue remains to be seen. But it highlights the delicate balance policymakers face between protecting consumers and ensuring that the regulated market remains attractive enough to compete internationally.
Success will be measured by player behaviour
Finland’s gambling reform represents one of the country’s most significant regulatory changes in decades.
Ultimately, its success will not be measured by the number of licences issued or the complexity of the legislation. It will be measured by where Finnish players choose to gamble.
If more consumers migrate to licensed operators, the reform will have achieved one of its central objectives. But if popular products or payment methods remain available only offshore, improving channelisation may prove more challenging than policymakers anticipate.
The debate over cryptocurrency payments is therefore about more than digital assets. It is an early test of whether Finland’s new gambling market can successfully compete with a rapidly evolving global industry while maintaining the high standards of consumer protection that the reform is designed to deliver.