Gambling Laws and Regulations in Finland

Finnish gambling industry is well developed and thrives on a wide public interest. It is governed by the Lotteries Act - a legal structure that has been in effect since 1966, keeping more or less its original form to this very day. All genres of gaming are approved and subjected to the sole authority of the state. Players in Finland are free to wager real money https://casinolasku.fi/, play games and collect winnings, both in land-based and online establishments, as long as they are using the services of the government-controlled operators. While the existing laws and regulations prohibit all foreign companies from entering the market or advertising to the residents of the country, they do not contain any stipulation that specifically forbids Finnish players from seeking the services of any outside casino. Since the same loophole applies to financial transactions between foreign casinos and players residing in Finland, there are no legal bounds to stop them from registering and playing on any such website, provided they accept Finland as per their terms and conditions.

Gambling Laws and Regulations in Finland

There are currently three government-owned entities with exclusive rights to offer gambling-related activities in the country: RAY, Oy Veikkaus AB and Fintoto Oy. According to the legislation, each of these operators controls a different sector, meaning that casino games, lottery, sports betting and races all require a separate license. It is through these channels that the government holds a monopoly on the entire gambling market of Finland. This type of regulatory system is established primarily to prevent fraud, addictions and harm that may come to consumers. As a member of the European Union, enforcing such strict regulations puts the country in conflict with the freedom of establishment and the free movement of services laws. Despite the pressure to revise and improve its legislation accordingly, Finland not only maintains the monopoly but has also recently announced radical measures to ban sports betting on offshore sites.