The iGaming Industry in Finland – Interesting Facts

igaming industry

Finland is well-known for its passion for gambling. In reality, Finland’s iGaming sector is one of the most thriving in the world. There are several reasons for this. However, one of the most important is that Finnish players have access to some of the world’s greatest online casinos.

Here are some fascinating facts regarding the Finnish iGaming sector:

1. Government Support

Unlike in several other nations, the Finnish government supports the iGaming sector. This implies that Finnish gamblers may enjoy a risk-free online gaming experience without fear of legal ramifications.

2. A Variety of Payment Methods

The ability to use nearly any payment method you want to pay for the game you want to play is one of the key reasons why the iGaming sector is on the increase. Just a few decades ago, it was nearly inconceivable to fathom using anything other than fiat money. However, you may now pay for your services with a credit card or even cryptocurrency. 

Everyone is now aware of various traditional and long-standing payment methods. We can all agree that they have altered our perception of our monetary system. They were, in some ways, the first step towards cryptocurrencies, but you may also pay using payment applications without wasting time or dealing with fiat money.

All you have to do is transfer money from your account to the casino account, and you’ll be able to play your favorite game. This guide can help you find the best online casinos in Finland that accept several payment options. This means you may deposit and withdraw funds using your preferred payment option. Credit cards, debit cards, bank transfers, and e-wallets such as PayPal and Skrill are all accessible options.

3. A Variety of Languages and Currencies

Another factor that attracts Finnish gamers to iGaming is the availability of a diverse selection of languages and currencies. This means that players can easily select the casino that best meets their needs and play in their local language.

4. Mobile-Friendly Games

You like playing video games, but you didn’t have enough time to spend in front of the computer. Things have changed a little. You may not have enough free time, but you most likely have a smartphone. You may use it to play your favorite game while standing in line at the grocery store.

The options are limitless, which distinguishes the iGaming sector from the others. No matter your whereabouts and time of the day, if you have time to spare, you can simply make the most of those few minutes and earn some quick cash.

 The iGaming sector recognized the value of mobile-friendly games. Almost every popular game is now available on your smartphone or tablet.

The same is true for online casinos. You don’t have to sit in front of a computer for hours to bet or play your favorite game. The future is likely to bring you even more changes. You may just wait to meet them, but in the meanwhile, the simplest and most obvious option is to relax and enjoy yourself.

5. Stiff Industry Competition

Due to the size of the Finnish market for online casino gambling, iGaming is extremely competitive. This implies that casinos are continuously competing with one another by providing greater and better bonuses, more games, and better customer service.

6. Gambling Is a State-Controlled Monopoly

The Finnish government regulates all types of gambling, both offline and online. In Finland, legislation has divided various kinds of gambling into divisions managed by separate agencies. These are their names:

  • Veikkaus Oy — This organization is in charge of the Finnish national lottery, sports betting, and instant win games.
  • Fintoto Oy — This organization keeps a close check on everything relating to pari-mutuel horse racing wagering.

7. The Monopoly Goes Against the EU Free Trade

That’s correct. The European Union requires free trade among its member countries. Finland, on the other hand, will not relinquish control of its iGaming industry. This has caused conflict between Finland and the EU on several occasions. 

According to the EU, Finland’s gaming monopoly is excessively restrictive for overseas businesses. It has become such a problem that the EU has written to Finland to express its displeasure with the country’s gaming policy. 

Finland has reacted to these letters, but no adjustments have been made. It is unclear if the EU will pursue this case further or simply give up.

What Does the Future Hold?

The Finnish government is eager to crack down on what it refers to as “illegal gambling”. It will achieve this by introducing legislation prohibiting unlicensed sites from marketing themselves in Finnish media. 

Gamblers in Finland are not limited in terms of where they may place their wagers online. Offshore gambling will persist in that nation unless internet providers deploy a geo-restriction system.

The Finnish government keeps firm control of the iGaming industry in the country. 

Any wagering that seeps out through an offshore gambling site must be a sore point, but an appropriate remedy has yet to be developed. By not preventing Finns from joining these unlawful sites, Finland may be able to persuade the EU that it respects free trade.

Final Thoughts

The government has comprehensive control over gambling in Finland. Four legislative authorities oversee the country’s many types of gambling. Even though gambling proceeds are used to fund social causes in Finland, the EU has been urging Finland to play nice and accept free trade. 

Gambling sites that are not licensed to operate in Finland are currently deemed unlawful. However, Finns flock to them because they are welcomed with open arms.

Despite the Finnish government’s desire to oversee all kinds of gambling in Finland, the internet has created an intriguing circumstance. It does not recognize borders unless a locking mechanism is present. 

Furthermore, Finnish gamblers are presumably unconcerned about where the gambling sites they use are regulated as long as they can access them to get their dose. And, with the EU putting pressure on Finland to ease up on their monopoly, it is fairly safe to conclude that nothing will change.