Finland is often considered one of the happiest nations in the world. The Finns are blessed with high income, top-quality education, and working healthcare systems. But Finland is also a haven for some of the best online casinos. Finnish online casinos offer players attractive bonuses in addition to huge payouts.
But wait, is it legal to gamble at online casinos in Finland? This article will answer this question, plus many others that you may have about online betting in Finland.
The way the Finnish gambling industry is run is a bit different from other countries. Here, the government enjoys a state monopoly on all gambling activities. In other words, the government owns all local gambling sites.
A good example is Veikkaus Oy, a gaming company launched in 2017. This company is owned by the Finnish government and offers gambling services such as Slot Machines, Instant Win Games, Skill Games, and Lucky Games. Today, Veikkaus is the biggest online betting company in Finland, attracting over 700,000 players weekly.
That said, gambling companies, including online casinos, must get the nod from the appropriate body before operating in Finland. These are:
RAY: This is the primary regulatory authority in Finland for land-based casinos. The body controls most casino games in the country, including online games.
Viekkaus OY: This body regulates all lottery, sports betting, and instant win game activities in the country.
PAF: A regulatory body for overseeing betting activities in Åland Islands – Finland’s autonomous province.
Fintoto OY: This body regulates all horse racing betting activities in Finland.
The Finnish government believes that state monopoly is the most effective way to manage gambling in the country.
The main agenda is reducing game addiction. According to a 2019 study by the Finnish Institute for Health and Welfare, at least 11% of the population had participated in one form of betting in the past year.
Overall, gambling at Finnish online casinos is absolutely legal as long as RAY and PAF approve the site.
Anyone who wishes to play at online casinos in Finland must be aged 18 years or more. This is to protect minors from gambling addiction and financial irresponsibility. Typically, young people are known to be risk-takers. So, this law only protects them from their own self.
But loopholes in the country’s gambling laws allow players to bet at offshore online casinos. That’s because the strict regulations only apply to gambling in the country.
Therefore, playing at some of the best online casinos in Finland is possible, considering the government can’t directly restrict them. Just remember to confirm the age restriction and licensing information at the offshore site.
Surprisingly, gambling in public spaces in Finland operates within a specific time frame. As a result, many businesses, especially Veikkaus, offer players limited time during gambling sessions.
Usually, there is a reminder after every 15 minutes, reminding players to be time and money-conscious. For example, all slot machines at Veikkaus venues have a reminder, asking players how long they want to play.
Currently, no offshore online casino operator can get the coveted Finish gambling license. But as said before, the absence of clear laws preventing offshore sites from accepting Finnish players is a significant plus.
Therefore, it’s just a matter of when the Finnish government will ditch the suffocating state monopoly in favor of proper gambling laws.
This will shield players from rogue offshore casinos and bring in the much-needed revenue. And yes, Finnish players will get to choose from the crème de la crème of global online casinos.