Finland Online Casinos

When engaging in gambling activities, it is of vital importance to understand what are the laws in order to avoid unpleasant events. Some countries allow gambling in all of its forms, while others have more complicated rules on the matter. In this article, we will focus on the Finnish gambling market.

The Republic of Finland has always been known for its affection towards gambling. Its market is among the top 5 in size. Statistics show that Finns spend around €2 billion every year on gambling activities. In this sense, we can assert that the gambling industry is a significant sector in Finland. However, the country’s gambling legislation and policies are complex.

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The gambling industry in Finland can be described as oligopoly rather than monopoly as three companies share the market and control the different gaming activities. RAY is the company that manages the slot machines, Fintoto is in charge of the country’s horse racing sector, while Veikkaus is responsible for the lottery. The Finnish system is also known as “3+1”. The three entities in control of the Finnish gambling market are state-owned.

In 2017, the three companies were merged in order to strengthen the Finnish gambling monopoly. The newly-formed agency is responsible for distributing the profits from gambling to various social projects. The law that governs the gaming activities in Finland is called the Lotteries Act. The first law on lotteries was voted as far back as 1965 and it is still the basic law governing the gambling market in the country.

The gaming sector is taxed in accordance with the Finnish Income Tax Act and the Lottery Tax Act. The lottery tax yields the lion’s share from the gaming revenue. Winners are not required to pay taxes on their earnings except for lottery winners who have to declare their prizes on their income tax.

Landscape of Online Gambling in Finland

The Future of the Finnish Gambling Market

Landscape of Online Gambling in Finland

As far as online gambling is concerned, the market is controlled by two state-run entities, and namely PAF and RAY. The former is in charge of the online gaming in the Aland Province, while the latter governs the rest of the country. It is important to note that only gambling sites that received a license from the Finnish entities are allowed to legally offer their services to players from Finland.

Despite the EU’s attempts to convince the Finnish legislators to put an end to the gambling monopoly in their country and allow other operators outside the “3+1” to enter the market, the country does not succumb to this pressure. According to some lawmakers, this will have a negative effect on the organizations that are dependent on the funds accrued by the state-run gambling entities.

Currently, there is a good-enough number of regulated virtual casinos as well as web-based gambling establishments. However, this does not mean that a number of offshore casino operators provide their services to the Finnish market thus, trampling the law and accepting players from this jurisdiction.

The Future of the Finnish Gambling Market

The idea to eliminate the monopoly is gaining momentum as legislators started to doubt if the gambling monopoly indeed generates better profits. In addition to that, Veikkaus has been recently criticized by the government due to the operator’s advertising policy. The entity was blamed for exorbitant promotion of gambling, and thus, failing to prevent gambling addiction in the country. This shook the grounds of the Finnish gambling industry, raising the important question if it makes sense to keep Veikkaus’ monopoly.

Compared to other Nordic countries such as Sweden and Denmark, Finnish regulations regarding the gambling industry are considered to be out of the ark. It is yet to become clear what is the future of the Finnish gambling industry. According to some industry insiders, the best thing the country could do is to regulate offshore online gambling. In that way, players’ interests will be protected and the country’s coffers will swell.

However, the major problem is the continued growth of gambling addiction. According to the Finnish Competition and Consumer Authority, the measures taken by the government are insufficient to protect vulnerable players and a new strategy should be implemented.

If you are a rookie player who is about to make a deposit, you might be a bit hesitant about which payment solution to use. There are a few things to consider when selecting your preferred payment method – how safe is the payment method, what kind of details you are required to provide, how quick payments are processed, and what are the fees. In the lines below, we would like to provide you with a list of convenient and trustworthy Finnish-friendly payment methods.

Debit/Credit Cards

Electronic Wallets

Online Voucher System

Virtual Card

Cryptocurrency

Bank Transfer

Debit/Credit Cards

Visa and Mastercard bank cards are among the most popular payment methods among Finnish players. This barely surprises us, having in mind that almost every person has a debit or credit card. In addition to that, there is hardly any web-based casino that does not accept payments via Visa or Mastercard. However, it is important to mention that some casinos block withdrawals via these bank cards due to legal restrictions.

Electronic Wallets

Casino enthusiasts who reside in Finland can also use various e-Wallets to upload funds to their gaming accounts and make withdrawals. Zimpler, Skrill, and Neteller are among the most preferred web wallets due to their promptness and safety. Casino enthusiasts can make deposits in a snap and withdrawals take no more than 24 hours. In addition to that, it is extremely easy to manage your funds via these e-Wallets.

Online Voucher System

Some people prefer to remain anonymous when making a deposit. If this is the case, we would recommend you to make use of Paysafecard – a prepaid card that is adopted by a huge number of interactive casinos. This card can be purchased over the counter.

After that, you need to make an account at the official page of the payment service you chose. To make a payment via Paysafecard, you will need to log into your casino account, enter the amount you would like to deposit, and enter the 16-digit PIN code which can be found on the voucher. The funds you deposit will appear instantly on your gaming account.

Virtual Card

Entropay is a virtual debit card by Visa. Making a deposit using this type of payment solution is more than easy and it follows the same procedure as when transferring funds via a plastic debit card. You will be required to provide your name as it is written on the card, the number of the card, its expiration date, and the CVV code. Players should keep in mind that withdrawals might take a few days to be cleared. What is more, this payment solution features advanced security.

Cryptocurrency

Many interactive casinos adopted cryptocurrencies as a payment solution. Some casinos even offer payments processed only via cryptocurrencies. Bitcoin, Ethereum, and Litecoin are the most popular cryptocurrencies that you might come across when choosing a web-based casino. This type of payment method comes with a good-enough number of advantages. Transactions processed via cryptocurrencies are discrete and there are no banking fees.

Bank Transfer

This is an old-school type of payment method that has a huge number of fans. Virtually almost every interactive casino accepts payments via bank transfers. In that sense, if you prefer to use this payment solution, you will not have a hard time finding a casino that offers it. There are certain disadvantages associated with this payment option, and namely higher limits on the minimum withdrawable amount and slower processing of the payments.

To keep players’ loyalty running high and attract newcomers, online casinos offer various bonuses. These promotions provide players with the opportunity to play for longer. Needless to say, the online gambling market is highly competitive. To keep head above water, casino operators need to introduce not only an abundance of games, but also interesting and lucrative bonuses. There are different types of promotions which we will discuss in the lines below:

Sign-Up Bonus

Free Spins Bonus

Cashback Bonus

Deposit Method Bonus

Loyalty Program

Where is the Catch

Sign-Up Bonus

This bonus is also known as Welcome Bonus and it is offered to players who register at the casino and make their first deposit. Undoubtedly, the sign-up bonus is the most lucrative of all the available bonuses at a particular casino. The sign-up bonus is a percentage of your deposit up to a certain amount.

For example, if a casino offers a sign-up bonus of 100% match up to $500, this means that the maximum amount you can receive in bonus funds is $500 and your deposit will be doubled. The amount you will get depends on your deposit. If you make a $100 deposit, the casino will give you $100 to play with. The Welcome Bonuses are designed to improve players’ chances to win big.

Free Spins Bonus

A huge number of virtual casinos offer free spins as part of their Welcome Packages. This incentive is usually intended for playing a specific slot game designated by the casino. In that way, the operator promotes new releases. Depending on the terms and conditions related to the bonus, casino enthusiasts can withdraw their winnings. Since no deposit is required, you can expect that the wagering requirements will be higher. In addition to that, most often players will not be able to withdraw the entire amount of their winnings as the bonus is associated with a cashout limit.

Cashback Bonus

The cashback bonus allows players to get back a part of the money they lost during a game session over a certain time. This promotion usually comes with low wagering requirements. The amount you will be refunded depends on the amount you lost. Some casinos offer this promotion only on specific days of the week. In addition to that, players should keep in mind that some gaming sites offer cashback bonuses only if it was played with real money and no bonus was active. Others do not have such a requirement, so keep your eyes open and carefully read the terms and conditions.

Deposit Method Bonus

Some casinos offer special bonuses for players who make their first deposit via certain payment methods. Most casino operators created special incentives for casino buffs that prefer to use cryptocurrencies. These promotions mainly target players that make their deposits by the use of Bitcoin. The reason is that cryptocurrencies as payment solutions are much cheaper as there are no bank fees. It is important to mention that you can also come across web-based casinos that offer special Welcome Bonuses crafted for Bitcoin users.

Loyalty Program

Regular players are provided with the opportunity to get involved in the VIP program of a certain casino. Basically, you collect comp points which are given to casino enthusiasts every time they place real money wagers. Usually, the VIP programs feature several tiers. Depending on your VIP status, you can enjoy various benefits such as higher cashout limits, free spins, or some other prizes.

In most cases, you can convert the comp points for chips to play at the casino. It is important to note that the higher your VIP status is, the more comp points you will get for every dollar you spend at the casino. The comp points are exchanged for real money according to a formula that is determined by the casino. You do not have to activate the VIP program as the comp points are collected automatically.

Where is the Catch

There are plenty of bonuses that will help you boost your winning chances. However, keep in mind that every casino bonus comes with certain terms that you need to comply with in order to withdraw your earnings associated with the promotion. To claim a bonus, you might be required to make a minimum deposit.

Prior to claiming a bonus, the first important thing that you need to take into account is the wagering requirement. This is a multiplier that represents the number of times the bonus funds should be rolled over. The wagering requirement might apply only to the bonus funds or to the total sum of the bonus and the deposit.

What is more, some games do not count in full towards the wagering requirement. While working towards clearing the playthrough, you need to comply with a maximum bet size set by the operator. Keep in mind that the bonus is valid for a certain period.

Software providers are at the core of the casinos’ gaming portfolios. Hence, it is important to check which companies are responsible for the content of the gaming site that most appeals to you. There are hundreds of software providers and each of them offers something unique. In the lines below, you will find some basic information regarding software companies that partner with Veikkaus and thus, offering their gaming content to Finnish players.

Yggdrasil

Relax Gaming

Playtech

NetEnt

Yggdrasil

The Malta-based software company Yggdrasil appeared on the gambling scene in 2013. Currently, the provider offers an extensive gaming portfolio comprised of different game genres. What is notable is that Yggdrasil never compromises with the quality. Whenever you come across a game developed by this company, you will certainly not be disappointed if you decide to give it a try.

In 2019, the company announced its partnership with Veikkaus, so Finnish players can enjoy Yggdrasil’s games without any worries. The company holds a license issued by the Malta Gaming Authority.

Relax Gaming

The company’s history can be traced as far back as 2010 and since then the brand managed to establish a massive reputation on the gambling market. As for now, the software provider offers more than 500 games. The company is licensed in Malta, the UK, and Romania. Its products are offered by an impressive number of online casinos. In 2020, the company joined forces with Veikkaus for the provision of online slots. Hence, Finnish casino mavens will be able to enjoy top-shelf titles developed by Relax Gaming.

Playtech

This software provider is known as one of the premier companies that has been established in 1999. Over the years, Playtech developed a huge number of games that are of first-class quality. In addition to that, the company’s product roster is created with mobile players in mind as the majority of the games run smoothly on iOS and Android-based devices. Playtech is licensed and regulated by the UK Gambling Commission.

Some time ago, the company made headlines by announcing it signed a 20-year contract with Finland’s national gaming operator RAY.

NetEnt

It is a well-established software company with an innovative approach. NetEnt’s gaming portfolio is recognizable for its peerless quality. In addition to that, the games feature interesting storylines that quickly become favorites among aspiring casino enthusiasts. The company is licensed by the UK Gambling Commission and it has been operating ever since 1996. NetEnt’s gaming portfolio spans over various game genres. From table games to live dealer suite, the company has it all.

In 2018, NetEnt penned a deal with the state-owned gaming operator Veikkaus under which certain casino games are available for Finnish players.

Every day new web-based casinos appear on the market. There are over 2,000 gaming sites that players can choose from. Hence, it can be quite a challenge to find the right web-based casino for you. This task can be even harder if you are just at the beginning of your gambling career. For that reason, we would like to give you a few tips.

Firstly, always check the casino’s license and if it accepts players from your jurisdiction. Secondly, have a look at the available promotions and the terms related to them. In that way, you will be able to make the right decision whether the bonuses are worthwhile or not. Thirdly, have a look at the software providers and the games offered at a certain web-based casino.

Last but not least, check if the payment methods employed by the casino are sufficient to please your needs. For the Finns who enthuse over placing bets at online casinos, we created this list of top 10 gaming sites which are fully licensed.

Videoslots Casino

Slots Magic Casino

Pelaa Casino

Yako Casino

Casino Joy

PlayOjo Casino

Fun Casino

King Billy Casino

SlotV Casino

BitStarz Casino

Videoslots Casino

Since its inception in 2011, Videoslots Casino’s reputation has been untarnished. Its strong point is certainly the slots. Players can choose from over 3,000 titles that feature various themes and fantastic quality. Needless to say, there are other game genres such as table games, video poker, jackpot games, and live dealer gaming suite. The casino’s portfolio is courtesy of prominent software suppliers, and namely Microgaming, Playtech, NetEnt, Betsoft, Yggdrasil, etc.

Videoslots Casino offers an exciting Welcome Bonus of 100% match up to $200 plus $10 extra cash. There are several other promotions that you can benefit from as an existing player, but the sign-up bonus is the most lucrative of all. Finns can engage in their favorite games with a rested mind that this casino is trustworthy as it obtained a license by the Malta Gaming Authority, the UK Gambling Commission, and the Swedish Gambling Authority.

Slots Magic Casino

Found in 2014, Slots Magic Casino offers a first-class selection of games provided by some premier software providers such as Microgaming, NetEnt, Evolution, NYX, Play’n GO, and others. Slots seem to appeal to the interest of a huge number of players. Hence, it does not surprise us to find an abundance of this game genre.

The operator constantly introduces new titles, which means that you will certainly not get bored with the slots collection. Table games, live dealer games, and video poker are also options at this gaming site.

Licensed by the Malta Gaming Authority, Slots Magic Casino provides a safe environment to its players. What is more, this interactive casino features a juicy Welcome Bonus and a worthwhile VIP lounge. This gaming site is compatible with various handheld devices and its user interface is extremely player-friendly.

To the convenience of its players, Slots Magic Casino offers a wide range of payment methods. Whether you prefer to use a debit card, a credit card, an e-Wallet, or a bank transfer, this casino has them all.

Pelaa Casino

For the discerning players, Pelaa Casino offers everything one could need when playing at an online casino. The casino brags about its rich selection of games that is powered by Microgaming, NetEnt, Evolution, Play’n GO, Yggdrasil, Oryx Gaming, and others. Regardless of your preferences, you will find the game that best fits you.

Apart from the remarkable collection of slots, you can indulge in various table games, video poker, live dealer games, and others. This web-based casino does not offer a dedicated app, but it is also not needed as the gaming site works like a charm on iOS and Android-based devices. The operator received a green light to operate by the Malta Gaming Authority.

Pelaa Casino offers a wealth of promotions for both newcomers and casino patrons. The sign-up bonus is particularly generous as new recruits of the casino can claim up to $1,000 and 150 free spins. The casino accepts payments in various currencies, including EUR which is the best option for Finnish players.

Yako Casino

Yako Casino has been rated as one of the top web-based casinos by players from all over the world. This web-based casino not only offers a great variety of slots, but also a raft of other game genres. In that sense, you will most probably be satisfied with your stay at Yako Casino. The gaming site obtained licenses by the following governments: Maltese, Swedish, and the UK. Another reason to set up an account at Yako Casino is the available promotions.

This web-based casino features games from a vast number of high-profile software developers, including Microgaming, NetEnt, Evolution Gaming, Play’n GO, Portomaso, etc. Thanks to the instant-play mode, casino aficionados can play the majority of the games via various portable devices based on Android or iOS.

In case you need assistance, you can rely on the knowledgeable customer support representatives 24/7. Last but not least, the platform of this interactive casino supports multiple languages. In that way, non-English speakers can choose the language they are most comfortable with and enjoy the fun-filled gaming environment this gaming site features.

Casino Joy

Casino Joy was established in 2018, and currently it offers a rich collection of games. The casino’s varied gaming portfolio is courtesy of reputable software providers such as Microgaming, NetEnt, Yggdrasil. Play’n GO, Evolution, and others. The quality of the games is perfect even if you decide to play via your smartphone or tablet.

The Welcome Bonus certainly does its job to provoke the players’ interest as it covers the first four deposits. Needless to say, the web-based casino also offers other bonuses to incentivize its loyal patrons. The customer support department is quite useful as you will have your questions answered in a prompt manner.

The casino provides its services under licenses issued by the Malta Gaming Authority, the UK Gambling Commission, and the Swedish Gambling Authority. The payment options are various and trustworthy. Even though this interactive casino is a new player to the online gambling scene, it managed to establish a solid reputation.

PlayOjo Casino

PlayOjo Casino is a unique gambling site as it focuses not only on the quantity of the games, but also on the quality. This web-based casino offers titles developed by premier software providers, including Evolution Gaming, Wazdan, Play’n GO, Microgaming, NYX, NetEnt, Quickspin, ReelTime Gaming, Yggdrasil, etc. Hence, players can find a variety of games covering all major genres one could think of.

What is more, Android users can play the majority of the games simply by loading the website of the casino, while iOS users can download the casino’s dedicated app. The operator employs a good-enough number of payment methods that are accepted worldwide. In addition to that, you can be sure that your funds are in safe hands as the payment solutions offered at PlayOjo Casino are proven.

This interactive casino was launched in 2017 and it is licensed by the Malta Gaming Authority. Apart from being a trustworthy gambling stop, PlayOjo offers several bountiful promotions and bonuses.

Fun Casino

Fun Casino has been around since 2014 and over the years it has always been a major choice for players who insist on having a fun-filled gaming experience at a trustworthy casino. The operator offers its gaming services thanks to its licenses issued by the Malta Gaming Authority, the UK Gambling Commission, and the Swedish Gaming Authority.

What is more, the casino collaborates with many reputable software providers, which means that the outcomes of the games are unbiased. Microgaming, NetEnt, Evolution Gaming, Novomatic are among the companies responsible for the site’s first-class gaming portfolio. The casino’s strong point is its selection of slots.

When it comes to bonuses, Fun Casino does not hold back. Newcomers and casino patrons can be sure that they will find a number of promotions up for grabs. Mobile players can also enjoy the casino’s browser-based app that features an easy-to-the-eye interface. The payment methods are diverse and if you have questions, you can count on the friendly customer support agents.

King Billy Casino

King Billy Casino was founded in 2017 and it is licensed by the Curacao Gaming Control Board. The oomph of this web-based casino stems from its peerless gaming library that is composed of titles provided by NetEnt, Microgaming, Play’n GO, Yggdrasil, Betsoft, Evolution Gaming, Habanero, etc. The games are designed in a mobile-friendly manner. In that way, you can play via your Android or iOS device wherever you go.

King Billy Casino is dedicated to treating its visitors as royals. Once you open its website, you will see that the casino offers a bountiful Welcome Bonus that will boost your first four deposits. There are other available promotions for the casino’s regular players.

Furthermore, players can change the language of the casino platform. There are several possibilities to choose from. As far as payment methods are concerned, casino enthusiasts are presented with sufficient options that are trustworthy. To ensure its players’ hassle-free gaming experience, the casino has a professional customer support department that is available around-the-clock.

SlotV Casino

SlotV Casino is a well-established gaming site that was unveiled in 2017 and it received a stamp of approval by the Malta Gaming Authority. This web-based casino is extremely popular among players because of its peerless collection of games that spans over various game genres. Its product roster is courtesy of software giants such as NetEnt, Microgaming, Play’n GO, Evolution, Yggdrasil, etc.

Players who enthuse over slot games will be more than satisfied with the broad selection of games that feature various storylines and crisp quality. There are other game genres included in the casino’s portfolio, and namely table games, video poker, jackpot games, and a live dealer line-up. To make things even more enticing, the casino operator offers a succulent Welcome Bonus to its new recruits.

When playing at SlotV Casino, you should know that your money and information is always safeguarded. The casino adopted several reliable payment solutions, so you can choose the one that is most convenient for you.

BitStarz Casino

BitStarz Casino is a dynamic gaming site that offers top-quality games and generous bonuses. Founded in 2018, BitStarz has already made a name for itself. It managed to cement its strong positions on the market. This casino has always been associated with fun and fair gameplay. The operator holds a license issued by the Government of Curacao.

BitStarz’ portfolio is extensive, comprising slots, table games, video poker, jackpot games, and live dealer games. The operator teamed up with premier software providers, and namely NetEnt, Microgaming, Evolution Gaming, Play’n GO, Booming Games, etc. Furthermore, the casino employs a huge number of payment methods, including cryptocurrencies.

The casino platform is designed in a mobile-friendly way. The desktop and the mobile versions of this web-based casino are developed with attention to every detail. You can navigate through the games and the various sections of the casino easily as the site is well-organized.

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Find the answers of questions people asked so far:

Were there any permanent changes in gambling regulation in Finland following COVID-19 restrictions?

Asked by: Regina | Asked on: 2023-06-19

Answered by: Dan | Answered on: 2023-06-19

Yes. During the global pandemic period, land-based slot facilities in Finland were forced to close for about four months. Gaming arcades and slot machine venues reopened at the end of 2021. As for the restrictions that were imposed on online gambling during the COVID-19 pandemic, the daily loss limit for online games was reduced to €500 from the pre-pandemic limit of €1,000. The monthly loss cap was also reduced to €2,000. Even at the time of writing this answer, these loss thresholds have remained the same and Finland has not updated them to their pre-pandemic limits. Meanwhile, there have not been any other major changes in terms of operators allowed to offer online gambling services in Finland, with Veikkuas still holding a monopoly over both land-based and online gambling in the country.

Is there any chance of Finland changing its online casino monopoly model any time soon?

Asked by: Norman | Asked on: 2023-07-11

Answered by: Dan | Answered on: 2023-07-11

In 2023, a report conducted by the Interior Ministry showed that the current gambling regulation in Finland needs to change if the country would like to compensate for lost gains. According to the report, every year, the government loses about €500-550 million in tax revenue as almost half of the Finnish gamblers choose to bet their money with unlicensed offshore operators. Not only does the monopoly system cost the government quite the missed tax revenue but playing with unlicensed operators makes regulating the sector and preventing gambling harm much more difficult. That is why the report suggested that Finland should introduce a licensing system that would put an end to the state monopoly in online gambling. At the moment of writing this answer, however, these are only suggestions for a change in the online gambling regulations in Finland.

Gambling Legislation in Finland

Landscape of Online Gambling in Finland

The Future of the Finnish Gambling Market

Popular Payment Methods

Debit/Credit Cards

Electronic Wallets

Online Voucher System

Virtual Card

Cryptocurrency

Bank Transfer

Exclusive Promotions for Finnish Players

Sign-Up Bonus

Free Spins Bonus

Cashback Bonus

Deposit Method Bonus

Loyalty Program

Where is the Catch

Popular Finnish-Friendly Software Providers

Yggdrasil

Relax Gaming

Playtech

NetEnt

Top 10 Online Casinos for Finnish Players

Videoslots Casino

Slots Magic Casino

Pelaa Casino

Yako Casino

Casino Joy

PlayOjo Casino

Fun Casino

King Billy Casino

SlotV Casino

BitStarz Casino

Ask a Question. Get an Answer.

Were there any permanent changes in gambling regulation in Finland following COVID-19 restrictions?

Is there any chance of Finland changing its online casino monopoly model any time soon?