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A Guide to Finland’s Gambling Industry

by on September 2, 2021
 

What do you know about Finland? It’s a country in Europe. No. It’s not. It is the most northern of all countries in continental Europe and even has one hour ahead of Eastern Standard Time! But are you sure this has to do with online casinos?

If you would like to play for real money at an online casino based out of Finland, keep reading below for some additional information on the subject.

History of gambling in Finland

For the past 70 years, the government has run a monopoly on casinos, historically unkind to outsiders. Finland’s RAY, the Slot Machine Association, was founded in 1938. Following Veikkaus Oy, the Finnish National Lottery, and Fintoto Oy, Finland’s most prominent horse racing-specific pari-mutuel betting operator, came Aker Finans, the fifth largest financial services provider.

The first licensed operator to offer real online gambling services was Veikkaus Oy, which made internet gambling legal in Finland in 1996. Play Among Friends (PAF), a popular gaming website known for hosting online casino games, began in 2007. Finland was asked by the European Commission in 2010 to improve their gambling legislation, but although pressure from the EU has been strong, there has been little to no change.

The Finnish government recently established a state-owned gambling monopoly and named it Veikkau. In January 2017, Veikkau’s Board of Directors announced a merger between RAY, Veikkaus, and Fintoto. The newest online gambling sites continue to be heavily regulated and controlled by the state, and profits will be reinvested into the country. Finnish gamers have been banned, yet they still get to gamble via foreign-controlled online casinos. 

Finnish laws and regulations on online gambling

Finland online casino was legalized in 1996. And while they are an example of gambling, Veikkaus Oy, the state gambling enterprise, is the only entity permitted to operate a Finnish internet casino. Foreign-owned enterprises in Finland can’t advertise there, and that is basically what this entails in practice.

The Finnish government must license casinos in Finland. Other types of gambling, such as lotteries and sports betting, do not require a license since players always have some degree of control over how. Even if Finnish citizens are free to bet via foreign websites, the practice is nevertheless illegal. A number of them accomplish this. These websites attempt to appeal to Finnish consumers.

Smoking is not permitted inside the casinos, but there are designated outdoor smoking areas for those who wish to smoke. Smoking areas are marked in all casinos, and there should be no confusion about where you’re allowed to smoke inside the building if you choose not to go outside. Smoking areas are generally located near doors or at the very least out of the way.

Finnish law states that the minimum age for gambling is 18 years old. Casinos in Finland will therefore ask for ID when you try to enter. 

The casino industry in Finland is worth €2 billion

According to the Finnish gambling regulator, Veikkaus. The total output of casinos in Finland was €805.6 million last year, and it grew by five percent compared with 2019. However, casino takings fell for a third consecutive year as more people choose online gaming platforms instead. Example of casinos in Finland:

There are 500 slot machines at Helsinki’s Grand Casino, and the average daily turnover is €28,000. The casino has about 400 table games and restaurants and bars where you can play roulette or blackjack until midnight every night except Sundays when the closing time is midnight.

The Casino Barona, which opened in 1996 near the Helsinki-Vantaa Airport, has around 200 slot machines and 30 table games and a restaurant where you can play roulette or blackjack every weekday from 11 am to 12 pm. However, this casino does not allow smoking inside its premises.

The Casino Helsinki, located near the Kamppi shopping center and the Central Railway Station, offers slot equipment and table games like blackjack, baccarat, and roulette. It has a restaurant where you can play blackjack or poker every day from 11 am to midnight except on Mondays when it closes at 11 pm. There is a bar where you can play blackjack or poker until midnight every night except Mondays when it closes at 11 pm.

The Casino Cosmopoli, which opened in 2001 and has been called the “most beautiful casino of Finland,” offers slot machines and table games such as baccarat, blackjack, and roulette. The Casino Cosmopoli has a restaurant where you can play blackjack or poker every day from 11 am to midnight except on Mondays when it closes at 11 pm. There is a bar where you can play blackjack, baccarat, and roulette until midnight every night except Mondays when the closing time is midnight.

Finnish casinos have a variety of games.

There is a wide variety of games available in Finland’s popular slots, including Gladiator Jackpot, Neon Staxx, Winning of Oz, Vikings Go to Hell, Starburst, and more. NetEnt, Yggdrasil, and Playtech are the companies that dominate the market for these slots.

Finns are particularly fond of online casino games, including American Roulette, Craps, Punto Banco, Blackjack, and Poker variants such as Stud, Texas Hold’em, and Omaha. Scratch cards, the lottery, and betting on dog racing and horse racing are other popular online casino games.

How much money can you wager?

The minimum bet is €0.80, which can be as low or high as you’d like!

Even if you don’t want to gamble the maximum amount of money, at least have a look around inside one of these beautiful casino buildings. You might find yourself tempted by their tables and slot machines. Relaxing in style with your friends and family is an experience you’ll never forget!

Conclusion 

The casino industry is worth €1 billion and employs over 5,000 people nationwide. With new laws on online gambling still being passed by parliament, it looks like there will be plenty more opportunities for this industry to grow even bigger. They offer various games with different limits; however, slot machines generate 95% of their revenue. For those looking to gamble responsibly or try out an entirely new type of game while traveling abroad, Finland may be your best bet—don’t forget your passport.

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