Finland is opening online gambling to competition, Ireland is replacing outdated laws, and Italy has raised barriers but also cost of market access.
Higher taxes, tighter controls and casino investment are creating sharply different commercial conditions for operators and suppliers as 2027 approaches.
At the end of September, operators, suppliers, investors and regulators will gather in Lisbon for the SBC Summit after a year of monopoly reform, new licensing routes and renewed casino investment across Europe.
Capital is moving into online platforms, content and payments as well as casino acquisitions, resort developments and the modernisation of established gaming estates. This investment is creating demand for slots, electronic tables, casino management systems and compliance technology.
Each market retains control over the products it permits, the licences it awards and the taxes it imposes. EU rules governing competition, services, payments, data and consumer protection provide common boundaries without producing a unified gambling market.
Differences in national legislation, taxation and regulation increase cost and complexity but also create openings for companies able to combine international scale with local products, payments and market knowledge.
Finland prepares to open online gambling
Finland will end Veikkaus’ exclusive control of online casino and sports betting on July 1st, 2027, opening one of Europe’s last monopoly markets to licensed competition.
The reform follows a prolonged decline in Veikkaus’ share of Finnish online gambling. The state-owned operator remains the only legal provider in mainland Finland until June 30th, 2027, but Finnish players increasingly use offshore operators. The licensing system is intended to bring more of that activity under Finnish regulation.
Licensed operators will be permitted to offer fixed-odds, variable-odds and virtual betting, online casino games, slots and cash bingo. Veikkaus will continue providing these products through a separately licensed company but will no longer hold exclusive rights. Another state-controlled Veikkaus company will retain the monopoly over lotteries, scratchcards, pools games, land-based gaming machines and casinos.
The National Police Board received 50 applications between the opening of the process in March and June 2026, mostly from international companies. This number provides an early indication of the market’s appeal, although an application does not guarantee approval or confirm that an operator will launch.
Applicants must pay a non-refundable €29,000 processing fee and satisfy checks covering ownership, financial standing, management, regulatory history and AML controls. Licences can run for up to five years. The National Police Board will process applications and supervise gambling until June 30th, 2027. The Finnish Supervisory Agency will assume responsibility for licensing and supervision when the competitive market opens the following day.
Operators must complete the required audits and connect their systems to the regulator’s supervisory interfaces before launch. Finland’s 22% tax on GGR will match Sweden’s rate but remain below Denmark’s 28%.
A separate licensing timetable applies to game developers, platform providers and other gambling software suppliers. Applications open on July 1st, 2027, and licences become compulsory one year later. From July 1st, 2028, operators can only use software from suppliers holding a Finnish gaming software licence.
Licensed operators will be permitted to advertise, but marketing must be moderate. Influencer marketing will be prohibited, while sponsored athletes and sports teams may display an operator’s brand without promoting its gambling products.
Operators will also be required to verify players’ identities, participate in a centralised self-exclusion system and monitor gambling behaviour for signs of harm.
Veikkaus remains highly profitable as it prepares to lose its exclusive rights over betting and online casino. Sales revenue declined from €959.1m in 2024 to €936.3m in 2025, while operating profit fell from €461.6m to €431.6m. Digital channels generated 61% of GGR.
Veikkaus’ online business will enter the licensed market alongside international operators with extensive product portfolios and brands already familiar to Finnish players. Its lottery and land-based monopolies will continue providing scale, while Fennica Gaming expands the group’s international B2B activities.
Finland combines an affluent digital population with a competitive tax rate and a defined launch date. Licensing, technical integration and customer acquisition will require substantial investment, but the early application numbers confirm its position among Europe’s leading opportunities for 2027.
Italy raises barriers to online gambling
Italy has completed a major reform of its online gambling market, replacing repeatedly extended concessions with a smaller number of longer and substantially more expensive licences.
The Customs & Monopolies Agency awarded 52 concessions to 46 operators in September 2025. The nine-year licences cover online casino, betting, poker and bingo, with successful applicants including Lottomatica, Flutter Entertainment, bet365, Betsson, Entain, LeoVegas, NOVOMATIC and evoke.
The concessions took effect in November 2025, followed by six months for operators to transfer customers and complete the move from the previous system. The transition ended in May 2026.
Each concession costs €7m, split between €4m following the award and €3m when operations begin. Corporate groups can hold up to five, taking the maximum one-off cost to €35m.
Operators must also pay an annual concession fee equal to 3% of their net gaming margin. Online sports betting is taxed at 24.5% of GGR, while online casino and other gaming products are taxed at 25.5%.
The financial requirements favour companies with sufficient scale to absorb the entry costs while continuing to invest in technology, compliance and customer acquisition.
Italy has ended the previous skin model, which allowed third-party brands to operate through another company’s concession. Each new concession is tied to one directly managed national website and cannot be extended to additional brands.
More than 400 websites operated under the previous system, many as skins rather than separately licensed businesses. The new structure has reduced the authorised network to a maximum of 52 websites, making regulatory responsibility clearer while concentrating the market among fewer companies.
Players in Italy wagered €165.34bn in 2025, an increase of 5%. Online wagers rose 9.5% to €100.88bn, exceeding €100bn for the first time. GGR reached €21.88bn across online and land-based gambling. Online casino, betting and poker generated approximately €5.1bn of this total, with casino accounting for the largest share.
Flutter’s €2.3bn acquisition of Snaitech added Snai to an Italian portfolio including Sisal, PokerStars and Betfair, giving the group an estimated 30% share of the online market. Lottomatica reported a 31.3% share during 2025.
Italy’s Dignity Decree has prohibited most gambling advertising and sponsorship since 2019, limiting the ability of newly licensed operators to build recognition through television, digital media and sport.
The government and industry have discussed possible changes, including a regulated code for gambling communications, but the prohibition remains in force. Responsible gambling campaigns can carry an operator’s logo but cannot be used as conventional product advertising.
Licensees must invest 0.2% of net gaming revenue in responsible gambling campaigns, capped at €1m per year. Operators must also provide deposit controls, self-exclusion and tools to monitor play for signs of harmful gambling.
The online reform does not cover Italy’s extensive land-based network of betting shops, bingo halls, amusement machines and video lottery terminals. These sectors remain governed through separate concessions and a fragmented mix of national, regional and municipal rules.
Italy has become more difficult to enter but more predictable for companies prepared to make a long-term commitment. Continued online growth provides considerable opportunity, although taxation and the advertising ban limit how aggressively operators can pursue it.
Ireland begins long-awaited regulatory overhaul
Ireland has started replacing gambling laws dating from the 1930s with a unified licensing and enforcement system, although the transition will extend beyond the first wave of betting licences.
The Gambling Regulatory Authority of Ireland was established in March 2025 under the Gambling Regulation Act 2024. It opened applications for remote betting, remote betting intermediary and retail bookmaker licences in February 2026. Applications are being processed, with licences to be issued in phases.
Retail bookmakers licensed under the previous system can continue operating until their existing licences expire on November 30th, 2026. The GRAI will assume full responsibility for the sector from December 1st.
Applicants must disclose their ownership, management and sources of finance, demonstrate that they can meet customer liabilities and satisfy the regulator that their activities will not support crime. Remote operators must also publish notice of their intention to apply at least 28 days before submitting an application.
The authority can investigate suspected breaches and impose financial penalties of up to €20m or 10% of annual turnover, whichever is higher. It can also seek court orders preventing unlicensed operators from serving customers in Ireland.
The Irish Revenue Commissioners will continue licensing gaming businesses until responsibility transfers to the GRAI, while the National Lottery remains separately regulated.
Ireland retains its existing betting duties. Retail and remote bookmakers pay 2% of stakes, while betting exchanges pay 25% of commission. The turnover-based charge places a greater burden on low-margin betting products than an equivalent tax on GGR. Irish customers wagered €911.2m through remote bookmakers during Q1 of 2026, compared with €570.3m through retail bookmakers. Remote betting accounted for 61.5% of total betting stakes.
Operators licensed by the GRAI cannot accept credit cards or provide credit for gambling. Remote customers must be able to set monetary limits, view their balances and transaction histories and close their accounts. Licensees must verify age, protect customer funds and report suspicious gambling activity.
Operators cannot send customers personalised free bets, bonuses or other inducements intended to encourage further gambling. Social media advertising can only be directed at people who have subscribed to an operator’s account, while television and radio advertising is prohibited between 5.30am and 9pm. Gambling sponsorship remains permitted, subject to restrictions intended to limit exposure among children.
A National Gambling Exclusion Register will allow customers to exclude themselves from all licensed online operators. The regulator will also establish a Social Impact Fund, financed through mandatory contributions from licensees, to support treatment, research and public education. Neither measure is yet fully operational.
Application dates have not been confirmed for online casino, land-based gaming, lotteries or B2B suppliers. The regulator originally intended to open remote gaming applications by the end of the first quarter of 2026, but that timetable has slipped. Until a revised schedule is published, the new licensing system will remain limited to betting.
The Netherlands counts cost of tighter regulation
The Netherlands has moved from rapid online growth to a more restrictive phase marked by higher taxation, tighter deposit controls and limited opportunities to advertise.
The regulated online market opened in October 2021. Licensed operators can offer casino games, poker, bingo and sports betting, while the Kansspelautoriteit oversees both online and land-based gambling.
Gambling tax increased from 30.5% to 34.2% in January 2025 and reached 37.8% in January 2026. Licensed operators pay the tax on GGR, making The Netherlands one of Europe’s most heavily taxed gambling markets.
These increases have delivered substantially less revenue than forecast. The government expected the first rise to generate an additional €108m during 2025, followed by €216m from the higher rate in 2026. A joint assessment by the Ministry of Finance and the KSA found that the respective increases were likely to produce only €2m and €57m.
Licensed online operators generated €602m in GGR during the second half of 2025, compared with €600m during the first six months. The annual total of €1.2bn was approximately 18% lower than in 2024. Around 500,000 people gambled online with licensed operators in an average month during the second half of 2025. The number of active accounts increased from 1.29m to 1.38m.
The KSA attributed the increase partly to deposit controls introduced in October 2024, which can lead customers to spread their spending across several operators. Operators must carry out affordability checks before allowing monthly net deposits above €700 for customers aged 24 and over or €300 for those aged 18 to 23. Players who do not provide sufficient evidence of income cannot continue depositing above these thresholds.
The controls have reduced large player losses. Average monthly losses increased from €117 at the beginning of 2025 to €124 by the end of the year but remained below the levels recorded before the controls were introduced.
Approximately 91% of Dutch online players used licensed operators exclusively during the second half of 2025. The legal market accounted for only 53% of estimated GGR, indicating that customers using unlicensed websites lose considerably more than those remaining within the regulated market.
Advertising opportunities have narrowed steadily. Untargeted advertising for online gambling has been prohibited since July 2023, while television programme sponsorship ended in July 2024. Online operators have been unable to sponsor sports clubs, teams or competitions since July 2025.
Targeted digital advertising remains permitted if operators can demonstrate that it does not reach vulnerable groups and that at least 95% of its audience is aged 24 or over. Professional athletes, sports teams, influencers and other public figures cannot be used to promote online gambling.
Holland Casino has also had to absorb higher taxes across its land-based estate and online business. Gross revenue before gambling tax increased 4% to €799.9m in 2025, supported by improved casino visitation and customer spending. Online revenue fell 29% to €60.6m following the introduction of deposit controls. The state-owned operator reported a net profit of €28.4m after reducing costs and selling property but warned that the 37.8% tax rate required further operational changes. Its Zandvoort casino closed in 2025 as part of the restructuring.
The Dutch market still offers scale, but higher taxation and stricter player controls have weakened operator economics. Its central commercial challenge is no longer attracting customers to licensed websites but retaining the gambling expenditure generated by its most valuable players.
UK increases online gambling taxes
The UK has placed a substantially heavier tax burden on online casino while preparing a separate increase for remote betting, widening the commercial divide between digital and land-based gambling.
Remote Gaming Duty increased from 21% to 40% of GGR on April 1st, 2026. The rate covers online casino, slots, bingo and other games of chance supplied to customers in the UK.
Remote betting remains taxed at 15% until April 2027, when a new rate of 25% will apply. Bets on UK horse racing will remain at 15% because bookmakers also contribute to the Horserace Betting Levy. Retail betting, pool betting, spread betting and bets placed through self-service terminals in licensed premises are excluded from the increase.
Bingo Duty was abolished in April 2026, reducing costs for land-based clubs. The different treatment reflects government policy intended to raise more from online gambling while limiting further pressure on betting shops, bingo halls and casinos.
The tax changes are expected to raise more than £1bn annually. Online casino faces the largest adjustment, with operators required to absorb a 19% increase through lower margins, reduced marketing or changes to promotional spending.
Great Britain generated £16.8bn in GGR during the year to March 2025, an increase of 7.3%. The figure includes the National Lottery and other lotteries. Online casino, betting and bingo contributed £7.8bn, while land-based casinos, betting shops, bingo halls and arcades generated £4.8bn.
Data from the largest operators, covering approximately 70% of the online market, showed GGR of £1.55bn between January and March 2026, representing a 7% increase from the same period a year earlier. Slots rose 12% to £773m, while betting increased 1% to £600m.
The UK Gambling Commission regulates operators and suppliers serving customers in Great Britain, while Northern Ireland retains separate gambling legislation. B2B companies supplying gambling software to British-facing operators require their own UKGC licences.
Online slot stakes are limited to £5.00 per spin for customers aged 25 and over and £2 for those aged 18 to 24. Credit card gambling has been prohibited since 2020, while operators must monitor customer activity and intervene when play indicates a risk of harm.
Financial vulnerability checks apply when a customer deposits £150 more than they withdraw during a rolling 30-day period. These checks use public records to identify bankruptcies, court judgments and formal debt arrangements. They do not require customers to provide bank statements or payslips.
More detailed financial risk assessments using credit reference data remain under review and are not operating across the market. UKGC has been testing whether these assessments can identify financial risk without requiring most customers to provide documents.
New promotional rules took effect in January 2026. Operators cannot offer bonuses requiring customers to use more than one gambling product, such as placing sports bets and playing slots. Wagering requirements are limited to 10x the bonus value.
Online operators and gambling software licensees must contribute 1.1% of GGR to the statutory levy funding gambling-harm research, prevention and treatment. Rates are lower for land-based businesses, including casinos, betting shops, bingo halls and arcades.
Gambling advertising remains permitted under rules administered by the Advertising Standards Authority and the UKGC. Promotions cannot target children or vulnerable people, while individuals appearing prominently in gambling advertising must not have strong appeal among under-18s.
Premier League football clubs have removed gambling companies from the front of matchday shirts from the beginning of this 2026/27 season. The voluntary restriction does not prevent betting brands appearing on shirt sleeves, pitchside advertising, training wear or other club assets.
Casinos licensed under the previous 1968 legislation can now operate more than 20 gaming machines. The allowance rises according to gambling floor space and is limited to five machines for each gaming table in use, up to a maximum of 80. These casinos can also offer sports betting within the same premises.
The UK remains Europe’s largest mature online gambling market, but scale no longer guarantees attractive returns. Operators and suppliers face a sharper distinction between products capable of supporting the new tax burden and those requiring lower acquisition costs, reduced promotional spending or revised commercial terms.
Portugal’s online market keeps expanding
Portugal’s regulated online gambling market has continued to grow under a licensing system combining open market access with product-specific taxation and detailed technical controls.
The market opened in 2016 and is supervised by the Serviço de Regulação e Inspeção de Jogos. Licensed operators can offer casino games, poker, bingo, fixed-odds sports betting and horse racing.
Online gambling generated €1.21bn in GGR during 2025, exceeding €1bn for the second consecutive year. Online casino games, led by slots and including roulette, blackjack, poker and bingo, generated approximately €759m. Fixed-odds sports betting contributed €447m.
Growth accelerated during the first half of 2026. Online GGR reached €328.2m during Q2, an increase of 14.4% from the same period in 2025. Casino games rose 14.2% to €203.1m, while sports betting increased 14.6% to €125.1m.
Casino accounted for 61.9% of online revenue during the quarter. Slots continued to dominate casino stakes, while football generated most sports betting activity.
Online licences are issued separately for each product category. An operator offering both casino games and fixed-odds sports betting therefore requires two licences, each valid for three years and renewable for further three-year periods.
Retabet entered Portugal in July 2026 with separate sports betting and casino licences. Play Jogo received a casino licence for its Vincino brand during the same month, showing that the market remains accessible to new entrants.
Applicants must secure approval for their technical systems, provide financial guarantees and connect to the SRIJ’s supervisory infrastructure. They must lodge a €500,000 guarantee covering legal obligations, including player balances, and a further €100,000 guarantee covering online gambling tax.
Portugal does not issue separate B2B licences to game developers and other software suppliers. Their products must be certified by a testing company recognised by the SRIJ, such as GLI, iTech Labs, eCOGRA or BMM, before being approved for use by a licensed operator. The operator remains responsible for all games and technology offered through its platform.
Online casino is taxed at 25% of GGR. Fixed-odds betting operators pay 8% of stakes accepted rather than a percentage of revenue. The tax is not charged separately to players, although operators can reflect the cost in their odds and margins.
Advertising remains available to licensed operators through sponsorship, digital marketing and traditional media. Promotions must be identifiable, socially responsible and restricted to adults. They cannot present gambling as a source of income or associate it with personal success, while advertising is restricted around schools and other facilities used by children.
Operators must verify customers’ identities and provide controls covering deposits, spending and playing time. They cannot extend credit to players, while payments must be made through accounts connected to the registered customer.
Portugal operates centralised online self-exclusion through the SRIJ. A request submitted through the regulator applies across every licensed gambling website, while exclusion requested directly from an operator applies only to that operator.
The SRIJ introduced a simplified self-exclusion form in April 2026, designed for use on computers and mobile devices. The regulator recorded 413,700 self-excluded player registrations at the end of June, an increase of 26.8% from the previous year. The figure represents registrations rather than necessarily the same number of individual players.
Land-based casinos and gaming machine halls generated approximately €69m in GGR during Q2 of 2026, increasing 6% from the previous year. Revenue from the country’s six bingo halls remained broadly unchanged.
Casino gaming operates through regional concessions rather than the online licensing system. The venues can offer table games and gaming machines within the areas covered by their concessions.
The SRIJ had ordered internet service providers to block 3,043 websites belonging to unlicensed operators by the end of June 2026. It had also issued 1,834 closure notices and referred 77 cases for possible criminal proceedings since the online framework took effect in 2015.
Portugal continues to admit new operators without a wider restructuring of its licensing regime. Product-specific approvals and financial guarantees increase launch costs, while the turnover-based betting tax places particular pressure on sportsbook margins.
Markets to watch
Austria considers ending online casino monopoly
Austria has proposed ending its online casino monopoly and allowing multiple operators to compete. Licences could be awarded from October 2027, although the existing electronic lotteries concession can continue until the end of 2028 under transitional arrangements.
Applicants would require at least €10m in capital. Initial licences could run for five years, with subsequent awards and renewals lasting up to 10 years.
Proposed controls include weekly deposit limits, a €2.00 maximum stake and mandatory breaks after 90 minutes of continuous play. Operators that previously accepted Austrian customers without a local licence would have to cease these activities and settle outstanding taxes and court judgments before becoming eligible.
The draft has been notified to the European Commission but has not been enacted.
Albania prepares betting tender
Albania has completed the regulatory framework for up to 10 online sports betting licences, restoring a legal route into a sector prohibited since 2019.
Applicants must establish an Albanian joint-stock company, hold at least ALL40m in capital and demonstrate annual turnover of ALL2bn. They must also have experience in at least three EU or OECD markets. The minimum licence offer is ALL400m (€4m) over the 10-year term. Bids will be assessed on financial terms, industry experience, governance, technology and a three-year business plan.
Deposits and withdrawals must be processed through financial institutions licensed by the Bank of Albania. Player funds must be held separately and transactions reported to the central monitoring system.
Online casino, poker and retail betting will remain prohibited. The tender had not opened by August 2026 and no launch date had been announced. Once the competition notice is published, applicants will have 45 days to submit their bids.
Georgia targets international operators
Georgia’s international online gambling permit regime took effect in July 2026. Separate five-year permits cover online casino, slots and sports betting offered exclusively to customers outside the country.
Each permit carries an annual fee of GEL100,000 (€33,000). Revenue from foreign players is taxed at 5% of GGR, compared with 20% for online gambling serving Georgian residents.
The legislation removes the requirement for an international-facing operator to own a land-based casino. Georgian citizens cannot use the platforms, and each permit is restricted to one domain.
The low entry cost and tax rate could attract operators and technology companies seeking an international base. Its commercial value will depend on banking access, supplier acceptance and the standing the permit develops among regulators in the countries where customers are located.
Denmark opens casino licence round
Denmark is accepting applications for land-based casino licences lasting up to 10 years. Operators seeking to establish a property or continue an existing operation must apply by November 3rd, 2026.
Applications will be reviewed by the Danish Gambling Authority and referred to the relevant municipality, police authority and government departments. Proposals involving casino vessels may also require consultation with the Danish Maritime Authority.
The process creates immediate scope for casino operators and suppliers of slots, electronic table games, casino management systems, payments and compliance technology.
France attracts casino investment
Capital has continued to move into France’s casino sector despite the prohibition of online casino. NOVOMATIC completed its acquisition of Vikings Casinos in 2025, adding 11 properties and approximately 1,000 gaming terminals.
Banijay Gaming agreed to acquire JOA in July 2026. If approved, the transaction would add 33 casinos attracting 4.6m visitors annually to the owner of Betclic, Tipico and Admiral.
Partouche opened a €100m gaming club in Paris during May, with 88 tables offering poker and other permitted games. Parisian clubs cannot offer slots or roulette.
The transactions are increasing demand for machines, electronic tables, casino systems and estate modernisation.
