Finland Online Casinos

When talking about gambling in Finland we are talking about a legalized activity, even if the existing legislation is complex. There is a state monopoly divided by three companies, meaning that private companies don’t play a part there. Regardless of who operates gambling, Finnish love to gamble https://Casino770.fi/, and it’s one of the most popular hobbies in the country.

Legislation

Gambling licenses are issued by the government, both for online and land-based operators. The particularity in Finland is that only one license is issued for each type of gambling, meaning that those three organizations only operate in one segment of the market.

Practically, this means that RAY is the company responsible for table games and slot machines, while the lottery and sports betting are the responsibility of Oy Veikkaus AB. Horse race betting is the responsibility of Fintoto Oy, the third operator.

These three organizations hold the monopoly for those areas in land-based casinos, except in Aland Islands, a region with an autonomous status regulated by PAF, a fourth organization who controls that province.

If we consider that the basic gambling regulation in Finland was created in 1966 and remains active (the Lottery Act 491/65), we understand how a state monopoly is still possible these days. The definitions of this law also categorize slots, bingo, and casinos that offer prize money as lotteries.

A central part of gambling in Finland is that there is a direct connection between gambling revenues and the funding of charity, a process that is regulated by the Lottery Act.

This Lottery Act has suffered some changes since 1966, and the most recent ones date back to 2002, but it’s still the regulated monopoly between those 3+1 organizations. The changes were primarily aimed at the protection of gamblers, and prevention of association of gambling with criminal activities.