Online Casino Finland

Finland has a special place in the European gambling market.

Unlike most EU countries, here all forms of gambling are under state monopoly, and the national operator Veikkaus Oy is in charge.

However, after lengthy discussions and pressure from the EU, Finland announced the transition to a licensed model, which will begin in 2026.

Legislative framework

The basis for the regulation of gambling in Finland is the law "Arpajaislaki" (Lottery Act, 2001), which has been repeatedly updated (the latest amendments are 2023).

It establishes full government control over lotteries, casinos, slots and online gambling.

Main regulatory authorities:

Veikkaus Oy is a state-owned company with the exclusive right to organize all gambling in the country.
Poliisihallitus (National Police Board) - responsible for overseeing, licensing and blocking illegal sites.
Sisäministeriö (Ministry of the Interior) - develops policies in the field of gambling and Responsible Gaming.

According to the law, gambling is allowed only through Veikkaus, and profits are used to finance sports, culture, science, health and social programs.

Veikkaus State Monopoly

Veikkaus Oy is the only operator with the right to provide gambling throughout Finland.

The company arose in 2017 after the merger of three former monopolies:

Veikkaus (lotteries and sports betting);
RAY (casinos and slot machines);
Fintoto (horse racing betting).

Since then, Veikkaus has operated:

online casinos (slots, poker, roulette, blackjack);
sports and esports betting;
lotteries and bingo;
land casinos and gaming halls.

Online gambling

Online gambling in Finland is only allowed on the Veikkaus platform. fi.

Here are offered:

video slots from Playtech, Novomatic, Yggdrasil, NetEnt;
board games and live-casino;
sports, hockey and Formula One betting;
online poker and lotteries.

However, due to limited assortment and strict limits, many Finns turn to foreign online casinos - licensed in Malta, Estonia, Sweden or Curaçao.

Such sites are not technically banned, but since 2023 Finland has been actively blocking their advertising and payments.

Popular offshore brands among Finns:

LeoVegas, Unibet, Betsson, Casumo, Ninja Casino, Stake, Wildz, ComeOn, 22Bet, Boom Casino.

Taxation

Veikkaus is wholly owned by the state, so taxation is organized differently than in countries with licenses:

profit is not taxable - all income is transferred to state funds;
for players, winnings are not taxable if received from Veikkaus or EU/EEA operators;
winnings from offshore operators outside the EU are taxed at 30%.

The annual turnover of Veikkaus in 2024 amounted to €1.1 billion, of which about €600 million was allocated to social programs.

Land-based casinos

Finland has a developed network of land-based casinos operated exclusively by Veikkaus.

The main establishments are:

Casino Helsinki is the only casino in the capital, operating since 1991;
Casino Tampere - opened in 2021, the first new generation casino with digital infrastructure;
more than 15,000 slot machines are installed throughout the country (in stores, bars, Veikkaus terminals).

Since 2022, the number of machines is reduced, and access to them is limited by the identification system through KYC and BankID to prevent minors from playing.

Responsible play

Finland is one of Europe's leading countries for implementing Responsible Gaming policies.

Veikkaus and the Ministry of Internal Affairs are running the state program "Pelaa vastuullisesti" (Play responsibly).

Main measures:

limits on deposits and losses (no more than €500 per day online);
mandatory identification of players (BankID);
self-exclusion through the Peluuri system. fi - for a period of 3 months to indefinitely;
psychological help hotline;
banning gambling advertising outside Veikkaus platforms.

These measures made it possible to reduce the share of problem players from 3% to 1.8% (according to 2024).

Move to licensed model

In 2023, the Finnish government officially announced the reform of the gambling market.

The main provisions of the future model:

Veikkaus monopoly will be abolished by 2026;
a licensing system will be introduced following the example of Sweden;
private operators will be able to obtain licenses from the Ministry of the Interior;
a new regulator will be created, independent of Veikkaus;
a tax rate of 20% of GGR is planned for online gambling;
the state will retain control of social funds and Responsible Gaming.

The new model is expected to allow:

reduce the share of illegal operators (from 60% to 20% of the market);
increase tax revenues to €150 million per year;
improve competitiveness and player protection.

Payment methods

Finland ranks among the world's most digital economies, and gambling is fully integrated with fintech systems.

Available methods:

Siirto, Trustly, Zimpler, Paytrail (BankID payments);
Visa, MasterCard;
Skrill, Neteller, Revolut;
Apple Pay, Google Pay.

From 2023, banks are required to block payments to unlicensed sites.

However, some players use cryptocurrencies (BTC, ETH, USDT) and foreign wallets.

Economic importance

Gambling brings Finland significant socio-economic benefits:

Veikkaus annual revenues - more than €1 billion;
deductions for sports, culture and social programs - up to €600 million;
more than 2,000 jobs in the sector.

Nevertheless, the share of illegal online casinos has grown to 60% of the market, which was the reason for the reform.

Challenges and challenges

the growth of the shadow market and the leakage of players abroad;

low attractiveness of Veikkaus for modern users;
pressure from the EU due to violation of the principle of free competition;

the need to update the Responsible Gaming system and digital identification.

Development prospects

By 2026, Finland will completely reform its gambling market, moving from a monopoly to a licensing model for private operators.

Main expected changes:

establishing an independent regulatory body;
issuing the first licenses to online casinos and betting companies;
integration with pan-European Responsible Gaming systems;
increased control over crypto payments and AML policies.

Thanks to this reform, Finland will join the number of modern and transparent iGaming jurisdictions in Europe, while maintaining strong social protection and a responsible approach to gambling.