Online Casinos Finland – Best 10 Online Casinos in Finland
Finland is a Northern European country which border Sweden, Norway and Russia. The first slot machine was brought to Finland in the 1920s.Finland is notable for monopolization when it comes to the Gaming Industry.
About Finland Online Casinos
Finland legalized both online based gambling and land based gambling for players. There is no restriction on players from gambling at any foreign online casinos sites and those online casinos sites available in Finland. However, as lenient as it is the law guiding the opening of inline casinos in Finland is complicated. It is only online casinos that are owned by those operators recognized by the state that are legalized to run online casinos in the country. Presently there is a scuffle between the European Union and the country because of the monopolization of the gaming industry. This monopolization has been effective from the time of World War II and players gamble at their own convenience in Finland. According to the study carried out on the Finnish adults, it was observed that about eight adults out of ten stake occasionally. Which implies that in a week about five adults out of ten will bet. In an average about fourteen euros are spent by Finnish every week and they are happy to do so because at the end of the day the profit realized are used to develop the country.
Monopolization by Finland and Sweden Gaming Industry
Since gambling has become legalized in Finland no major changes have occurred in the gaming industry and their monopolization is still effectively managed by 3 major bodies in Finland. These bodies are Fintoto Oy, Veikkaus Oy and RAY. These three bodies have different functions with Fintoto Oy controlling everything regarding to horse racing and returning the profits to the development of horse sports and breeding programs. The one in charge of the National Lottery and returning the proceeds to the development of Arts, Sciences, Sports and Cultures is the Veikkaus Oy. And lastly, the one in charge of casino games, table games, slot machine and everything regarding land based casino is RAY.
Every form of gambling on Finland-governed Aland Islands is regulated by PAF being the fourth body. More pressure has been laid on the head of the government of Finland by the European Union to comply with the laws regulating gaming based on European Union. However, although there are lot of pressures yet the Finnish government did not yield into it. And now the government of Finland is trying to act like the Swedish Government by not wavering in their monopolization act and making sure that they prevent operators from other countries from getting into their market. But, the Finnish Government have reiterated a lot of times that there will be no repercussion for any player that decided to play at any foreign online sites. As at now, no feasible measures has been taken by the government to prevent the foreign sites from operating and to enforce the banks to halt the transaction processes.
However, in 2010, a law was made then which is still in effect till date. The law is basically to deter the foreign casinos site.it states that there must be no advertising of foreign online sites unless they will need to pay a fine and the media and the operators can serve prison sentences.
Advent of Online Casinos
The first time a slot machine was brought to Finland was in the 1920s by private firms from Germany. However, it was only charities that are licensed to operate the slot machines as at 1933. So 1938 brought about the birth of RAY which was formed then to oversee the slot machines as an association and also to produce the machines at the same time generate money for the health and social problems that may arise. PAF was formed to regulate and control Aland Islands with the coming of online gambling. It is a licensed online casino which has been in existent since 1999 offering players casino games, sports betting, bingo and poker room. It was only PAF that was licensed to offer all these games then until 2010 when there was a relaxation in the rules. Then the expansion of RAY was possible to offer online casino games and poker. Fintoto Oy and Velkkaus Oy also were allowed to expand and provide internet services. Therefore, in Finland as at now, only the four bodies are licensed to carry out internet services. Only these four bodies are allowed in Finland with the cutting off offshores betting sites.
The Players and the Revenue Generated
In a year 1.7 billion euros will be generated by the Finland gaming industry and with players spending about €130 million every year on foreign online sites. Although, this is not up to the amount realized by the government still they want to cut loose foreign companies especially the big ones. For gambling, Finland is among the prominent countries which is making most large firms to want to secure the rights to offer the game too. Also, one of the thing the Finnish gaming industry detest about these large firms are the way they do their advertisement aggressively which will definitely make players to visit them more since they are going to give them better deals. Normally players will not see a sites offering a better deal that the one based in Finland and will not leave it for the foreign one. This is what they are trying to prevent. They are trying to prevent players from taking their elsewhere since they cannot offer a better option.
How Do You See Finland Industry In The Next Few Years?
Although, the government of Finland are still maintaining their stand that no foreign firms will be allowed in their gaming industry but this may change as time goes on. The European Union are mounting a lot of pressures on their head and it will not be easier for them to shake it off like that. Although, what Finland is doing in the act of giving back the money realized from the gambling back to the society but players will prefer sites that can offer them better odds, more bonuses and promotions and better means of winning.