Finland Online Gambling Laws and Regulations

avatar

Published by CasinoTopsOnline on May 17, 2017 in Casino Tips

featured image

Online gambling is one of the most popular forms of entertainment for people all over the world. The Finnish in particular are people who love to gamble. It has been shown that Finnish people can bet up to €10 billion on lottery tickets, slot machines, and sports betting each year. 

The Republic of Finland has always had a government-controlled gambling monopoly and despite all the recent developments in the industry, it seems that it is bound to stay that way. Online gambling has become one of the biggest sources of income over the last few years. Finland is also classified as the fifth largest gambling nation in the world which is why most foreign operators are trying to get into the Finnish gambling market. Unfortunately, it seems as if that won’t be an option now or in the near future. 

Casino.com

100% up to €400 + 200 Bonus Spins

Play

In 2010, the European Commission requested that Finland must implement changes to their gambling regulations that would make it more compliant with the EU laws. Despite the pressure from the European Union, Finland’s gambling structure remains mostly unchanged. While gambling in Finland is 100% legal the gambling regulations are a little more complex. Interestingly enough, during a recent report done by the Finnish media outlet, Yle, statistics showed that 66% of older Finnish residents who were interviewed prefer the Monopoly Regime.
 

The Three for One Structure

The state has a monopoly over all forms of gambling whether it is online or offline. All gambling operations have always been managed by three state-run companies. RAY had always been in control of table games and slot machines offerings in Finland. National Lottery, sports betting and instant win games were controlled and regulated by Veikkaus Oy and all horse racing betting was regulated by Fintoto. These three entities were again regulated and controlled by the state and all profits made from gambling are put back into the country whether it is through arts, science, sports or education. Earlier in 2017, these three entities merged to become one state-run monopoly named Veikkaus.
 

The Blooming Finnish Gambling Market

According to the statistics, it shows that Finns bet more than €10 billion on various gambling products. Finnish players have been placed among the biggest gamblers according to a gambling chart by H2 Gambling Capital.
 

Last year alone the Finns spent a total of roughly $2.2 billion on gambling activities.

Research also shows that Finns adore online gambling and gaming machines. 

With the statistics proving that gambling is high in demand it would seem like the obvious choice for the Finnish Government to open their market to international operations. At least, that’s what most other countries with promising gambling markets have done. The Finns, however, have a different approach and like to keep things in the house much to the frustration of the European Commission.
 

Responsible Gambling

The Finnish Government might be strict on international operators advertising in the country but there are plenty of foreign sites who allow Finnish citizens access to their games and offerings. Ultimately it would be wise of Finland to change its gambling regulations and allow foreign operators’ access to their citizens. The country’s gambling market can become even more lucrative with the addition of international operators.

Not only will the country be able to control which sites gain access to their citizens but they will also be able to protect their players from potentially harmful and scam sites. It seems the idea of making money out of international operators isn’t quite as appealing as complete control over the market. At some point, they might have to reconsider their stance to protect their players and keep them on the straight and narrow to ensure responsible gambling.
 

Tax and Your Winnings

Gambling has been a part of history in Finland since the 17th Century and while it was banned for a short while in 1899 by the penal code, it became legal again in 1917 when the country gained independence. Ever since then players have been able to enjoy gambling online and at the countries land-based casino, Casino Helsinki, that is located in the country’s capital of Helsinki. Players are extremely eager to participate in this form of entertainment both online and off but there are some concerns regarding the taxes. 

The country requires that all operators of casinos pay 8.25% tax on all their net profits but players won’t be taxed. That means that you can play at any of the legal online casinos or the land-based casinos, knowing that when you strike that big win you get to take it all home.
 

Is Offshore Gambling Illegal?

The Finnish Government has strict control and gambling regulations in place to protect not just themselves but also their citizens. It seems the rules have been set in place to guide players and help them stick to responsible gambling. 

The online casino industry has seen rapid growth with new online casinos popping up daily. And while the Finnish might legally gamble at any of the state-owned operations, there is uncertainty regarding the consequences of partaking in online gambling from a foreign operator. Of course, there are Finns who completely disregard the rules and regulations because there are better offerings and games that can be found at some of the offshore casinos than at a Finnish Casino. Others, however, are treading lightly and unsure of whether they should step foot into the hundreds of offshore online casinos available. 

For now, players can indulge in online gambling activities on foreign sites without having to worry about getting into trouble with the Government. While there are strict laws that prevent international gambling sites from advertising in Finland there are absolutely no laws that prevent Finnish players from partaking in gambling at international online casino sites. Payment transactions and IP addresses are not being monitored or blocked which gives you easy access to sites outside of Finland.

It would be wise to check out our Top List of Casinos for Finland before jumping into anything too quick. Some sites out there are not safe and will scam you out of your money and you’ll be without the protection of the Government. It’s always important to go do your research before signing up at any online casino.

player reviews
Rate casino and write a review
Write Review
Write a review for

We respect your privacy. We are committed to responsible handling and protection of your personal information. By subscribing, you are agreeing to our Terms & Conditions and our Privacy Policy and you confirm that you are 18+. If you no longer want to receive our occasional offers and news, you may opt-out at any time. All our emails include an unsubscribe link.

Submit review

Your reviews help other players find the best casino sites and games to play. Please be honest with your feedback and rating. All submitted reviews will be checked by CasinoTopsOnline quality control team. Submissions that do not follow our review guidelines will not be posted.

Latest News View all
10 Reasons Why Kakegurui – Compulsive Gambler is Worth Watching

Netflix’s Kakegurui – Compulsive Gambler is a Japanese manga anime television series set up in Hyakkaou Private Academy. The series released in 2017 focuses on gambling (the highs and lows) in the sense that aside from gaining power and huge returns, online gambling can also lead a person insane.

Read more
Most Popular
10 Reasons Why Kakegurui – Compulsive Gambler is Worth Watching

Netflix’s Kakegurui – Compulsive Gambler is a Japanese manga anime television series set up in Hyakkaou Private Academy. The series released in 2017 focuses on gambling (the highs and lows) in the sense that aside from gaining power and huge returns, online gambling can also lead a person insane.

Read more
10 Tips to Improve Your Chances of Winning Scratch Cards

Want to gamble easily without having to use much of your bankroll? Then scratch cards might be what you are looking for. They open up an avenue for you to make quick cash and are simple to play since they require little to no experience. Scratch cards are reminiscent of Lottery where it’s a game of chance and luck. While you do not require much expertise in the field to win scratch cards, you can always have tips to improve your chances of winning scratch cards.

Read more
What is Three Card Monte?

If you have ever walked a busy street or carnival and noticed a group of people huddled around a dealer, and losing loads of cash, there is a good chance they were playing Three Card Monte. The reason the players were losing is because there is no way that this game can be won against a skilled dealer or crew. Still, many people get sucked into this three-card trick because they do not know that it’s a scam. Luckily, after reading this, you will never be drawn into a game of Three Card Monte.

Read more
What is Blackjack Double Down?

Most casino players know what blackjack is. We know that it is a card game played with one or more decks that comprise a total of 52 cards each. The picture cards, namely the Jack, Queen, and King, are all valued at 10. The Ace cards can either be valued at one or eleven. All the other cards in the deck are face value cards. In other words, a 2 of hearts has a value of 2. A seven of clubs has a value of 7.

Read more
Live casinos in the UK: what's not to love?

 If you’re a fan of table games, you know that part of the fun is being able to play at the table and feel the very real stakes. Luckily, online casinos have a solution – live casino. For UK players, live casino options are varied and plentiful, and to the highest quality.

Read more
Best time to go to the casino to win

Many self-confessed casino gurus have written books about how to win at the casino. One thing most of them cannot agree on is the best time to go. Maybe there’s a reason they can’t seem to find an exact answer. If we have an in-depth look at the different elements of playing at the casino, perhaps we can find a solution ourselves. First, let’s gain an understanding of some important aspects of the casino.

Read more
Esports & Daily Fantasy Sports in the US

Esports has seen a huge uptick in popularity – both in general as a competitive sport as well as in the betting scene. However where does it stand in the US?  Is the increasing popularity and international presence represented in betting and fantasy sports, in the US? We’ve aimed to look into this and find out.

Read more
Showboat Casino in New Jersey

Showboat Casino, the third of four famous Atlantic City casinos, could be eyeing a sensational return to the casino world after being shut down in 2014.

Read more