Top Casinos and Best Banking Options for Finnish Players

The legislation requires operators to have a government-issued license. Veikkaus Oy, the sole provider of the national lottery, sports betting and instant win games (scratch cards) has a government-issued license. Other entities that operate legally are RAY, responsible for providing land-based gambling, and Fintoto Oy, which controls pari-mutuel horse racing. These three entities merged in 2016 and are considered to be one operation. Aland Province is the only exception in the sense that it is controlled by a fourth organization known as PAF. The Finnish model is known as the “3+1” system.

Finnish government considers legal only online gambling sites that are run by PAF and RAY. However, Finnish citizens find it easy and simple to access online casinos that are based outside of Finland. Even though international operators are not allowed to set up their businesses inside the country, players are not facing any restrictions that would ban them from active sites accepting players from the Scandinavian region. These sites are not allowed to advertise directly to consumers based in Finland, but individual players are not blocked from accessing them and playing for real money.

The current state of things sees offshore operators capturing a large share of the market. As mentioned earlier, even though foreign companies are not allowed to advertise in Finland or set up their business in the country, no law prevents players from accessing foreign gambling sites. While the change in attitude in favor of re-regulation is a positive step for Finland, no concrete moves have been made in that direction yet. There have been mentions of perhaps finding inspiration in Swedish or Danish licensing models.

An updated gambling law came into force in January 2022. Its main takeaways are strengthening responsible gambling measures while maintaining the existing monopoly system. There are also plans of issuing payment blocking orders against iGaming companies in violation of the reformed Lotteries Act.

Finnish Market Updates

• December 2021: The Finnish Parliament approves the Finnish Gambling Law reform with changes that are expected to enter into force in January 2022.
• January 2021: A number of proposals to reform Finland’s gambling legislation reach the government which opens consultations and schedules parliament debates after summer of 2021.
• September 2022: EU’s northernmost country is moving to adopt a licensing model and establish a fully regulated market by 2026. This would mean an end to Finland’s state monopoly.

Sites licensed by the UK Gambling Commission have gone through strict criteria for licensing sites, so you will be engaging in a secure experience and the highest level of player protection will stand behind your every real money wager. You may also see sites with a license from Isle of Man, which is also a solid regulator. Any of the mentioned regulatory bodies make sure that sites adhere to gambling laws and meet the criteria for the provision of secure gambling online. Furthermore, modern online casinos sites are bound to have firewall technology built in to prevent cybercrime and potential data theft. By playing at highly rated online Finnish casinos, you will have all these things covered and won’t have to worry about a thing.

Finns use the Euro as local currency, sometimes also SEK. The great thing about using Euros for online transactions is that the number of casinos online accepting Euros is enormous. You can’t go wrong with picking out a EUR online casino since you will be paying without any conversion fees, which, as we all know, can be quite disruptive. You can be in full control of your budget by using a locally-optimised banking method and domestic currency. Remember to always check your prospective casino’s terms and conditions associated with their offered banking options, just to make sure that there aren’t any hidden charges involved.