Gambling business in Finland
In Finland, the gambling business is allowed, the authority to regulate the gambling business in the country is the Ministry of Interior. From the age of 18, any citizen can play in both land and online casinos. The entire gambling industry is monopolized by the state and divided into three firms: Fintoto, Veikkaus Oy and RAY (Raha-automaattiyhdistys)
Each of the listed organizations specializes only in specific types of gambling business. For example, Fintoto is busy with horse racing and raffles. RAY has the exclusive right to operate slot machines, board games and casinos in Finland. Veikkaus Oy is the only operator on the national lottery and sports circles. According to the decision of the Committee on Economic Policy of the Ministers, these three gaming operators will soon be merged under one brand Veikkaus.
So far, the only Finnish land-based casino, Grand Casino, is located in the capital Helsinki. It offers customers more than 300 slot machines, 20 tables and its own poker club. The Grand Casino is owned by RAY, which owns 7,000 slot machines and 200 tables in gambling establishments across Finland. Since 2010, RAY has also been providing its services to the Internet and has more than 250,000 users. In 2011, the company received permission to build a second land-based casino in Waalima, and the project is currently suspended.
A distinctive feature of gambling in Finland is that the money raised is spent only on charitable purposes: helping the needy and the seriously ill, charitable actions, and so on. Part of the income goes to the development of sports, medicine and healthcare, as well as the development of arts, social programs, science and work with young people.
In addition, Finland is actively fighting gambling addiction. According to statistics, 78% of Finnish citizens gamble at least once a year, 37% gamble, and 15% gamble on a weekly basis. The company RAY allocates 3 million euros annually to solve this problem and sponsors up to 1000 non-profit organizations.
Finland regulates the gambling industry
The Finnish gambling business is wholly state-owned. Current Finnish law allows only three monopolists to gamble: Fintoto, Veikkaus and RAY.
Under Finnish law, gambling is a form of lottery in which a player has a real chance of winning. The lottery refers to any activity during which participants can win. In this case, the prize is based on odds and players are charged a participation fee.
Gambling allowed in Finland includes:
A license is required for all types of games, including online and mobile games. In addition, it is prohibited to advertise and promote gambling, to place bets without a license.
Gambling regulators and laws governing the gambling industry in Finland
All permitted types of gambling in Finland are regulated by the Lottery Law (23.11.2001 / 1047). This law establishes provisions on the conduct of the lottery, the supervision of the lottery process, the provision of lottery accounts, the purpose of the lottery winnings and the control of the use of the proceeds. The Lottery Act also regulates the operation of slot machines, operates cashless lotteries, guessing games, bingo, and maintains access to cashless prize machines.
The gambling business is regulated by the Ministry of Internal Affairs. Under current law, individuals under the age of 18 are prohibited from entering the casino.
Finland has banned unlicensed marketing activities aimed at advertising gambling establishments and the services they provide. The lottery law involves the promotion and advertising of lotteries. The law provides for criminal sanctions for violating this paragraph. The National Police Council is responsible for monitoring advertising.
The Gambling Administration Department of the National Police Council monitors lottery operations and compiles statistics on lottery activities. This department is an independent oversight body. This body has the right to make opinions and recommendations on starting and supervising the lottery. It can also ban lotteries or sell them and enforce their bans with conditional fines.
Licensing in the gaming industry
All gambling contracts in Finland require a gaming license. In total, there are three licenses in the country: slot machine maintenance, casino game management, and casino operations; Only one license is issued for each of these purposes. The official basis for this restriction, which effectively creates an orderly monopoly, is the following: the protection of those who engage in gambling. Preventing gambling abuse; Prevention of criminal activities; Reducing social problems caused by gambling.
Licenses are issued for a period not exceeding five years. They are issued and canceled by the Finnish government. Three operators are currently licensed: Veikkaus Oy (state-owned), RAY (state-owned) and Fintoto Oy (privately owned). Under current law, other operators cannot offer gambling services in Finland. Applications for a license must be submitted in writing. They are usually accompanied by several documents: an annual report or other evidence confirming the applicant's participation in the activity, which contributes to the case chosen by him / her. Other forms of proof are accepted only if there is no annual report; Confirmation of the decision on the relevant activity (excerpt from the minutes of the meeting); A copy of the most recent financial statements, including the auditor's report; A copy of the rules of the association or foundation; Extract from the Register of Associations, the Register of Funds or the Trade Register, or an extract from the register produced by a public organization.
In addition, requirements may be imposed depending on the licensed type of activity. For example, in order to obtain a bingo license, applicants must provide bingo game rules and proof of reliability of the systems used in the game.
Taxation
The lottery income tax is accrued to the state of Finland. It is paid for by the operator or event organizer. The amount of the tax is calculated on the basis of the income received from the gambling services, if several bodies or persons share the organization or holding of such events, then all of them are responsible for paying the tax.
Lottery tax rate:
Gambling participants who have won a prize are also taxed. Earned income can be exempt from income tax if the lottery is organized in the European Economic Area and operates in accordance with the national law of that country. Also, no tax will be paid if the outcome of the event is determined at random. However, any profits are taxed if they are in the nature of remuneration for the goods or services, or if they are in the nature of a salary.
Gaming licensed types
Among the licensed types of gaming in Finland are:
Slot Machines. Grand Casino Helsinki alone has more than 300 slot machines, in addition to which there are more than 7,000 slot machines across the country;
Board Games - Blackjack, Oasis Poker, Red-Dog, Punto-Banco, American Roulette, etc. Lightning Poker, Touch Bet Roulette and Derby Horse are especially popular in Finland. Grand Casino Helsinki has more than 20 gaming tables and poker clubs, and there are another 200 gambling establishments in the country offering table games;
Online gambling has been legal in the country since 1996, when the Finnish National Lottery Oy Veikkaus received a license to provide online services. Under current law, the online gaming entertainment market is also monopolized by the state and divided into three operators: Fintoto, Veikkaus Oy and RAY.
Apart from the listed operators, no one has the right to operate in the Finnish gambling market. However, Finnish players have no problem using foreign casino sites, the interface of which is presented in Finnish and English. Bets on these sites are accepted in Euros and US Dollars. It should be noted that only Euros are accepted in official Finnish casinos.
Popular slot machines in Finland
There is a special demand among Finnish players for gaming machines such as NetEnt and Yggdrasil Gaming. Also, Finns do not neglect Play'N Go products. Here is a list of the most popular slots in the country: