Online Gambling Industry in Finland – New Opportunities

Online Gambling Industry in Finland – New Opportunities

Finland is a country that represents great potential for the development of the gambling industry. Despite very restrictive laws that have regulated the industry in recent years, Finns seem to love gambling. Restrictive laws limited the number of land-based facilities. Yet, Finns found their way to enjoy an activity called gambling. They prefer gambling online, using different online gambling platforms. During the recent health crisis, the online gambling industry grew. In fact, they made significant growth in revenues. Like almost everywhere else in the world, online gambling experienced its boom in Finland, so now there’s no shortage of good casino FI sites. As expected, online casinos are a recent trend in the industry previously dominated by land-based facilities.

Government Monopoly

The reason why there are no many land-based casinos in Finland is the fact that the industry is regulated and operated by the government. Three authorities control the entire industry. These authorities have a monopoly over the industry. Veikkaus have control over gambling and lotteries, RAY is responsible for slot games and Fintoto Oy controls horse racing. The situation is similar to Canada. As many of you know, every Canadian online casino based in the country is required to have a government license.

As mentioned, despite restrictions created by the state, Finns found their ways to enjoy gambling. Most of them play a variety of casino games online. All these online casinos are registered and located outside the country. This is due to already mentioned restrictions. Finns have access to international gambling websites. This is because there are no restrictions regarding Finns’ permit to try their luck on international websites.

Big Market Potential

Not just people in Finland find this absence of restrictions interesting. Owners of international online casinos realized that there is a lot of potential in Finland. Therefore, they put an effort to attract Finish gambling enthusiasts and to gain as much market share as possible. However, even though the Finish government didn’t create any laws that would restrict people’s access to these international gambling websites, it’s not easy for these operators to attract Finish players. This is because they can’t advertise their services directly to the citizens of Finland.

It seems that the only significant challenge that international casinos could deal with in the future is the tendency of local casinos to offer better online services. This is similar to the way things operate in other countries. For example, if you wanted to place an online bet in Switzerland, you would probably want to use a local venue. Three already mentioned Finnish land-based casinos have talked about their plans to work harder to strengthen their online presence. To keep in touch with new tendencies and compete with international operators, local casinos have to find a way how to respond to the way that the industry develops.

Competition among operators is like intensive like never before. Even though local casinos will struggle, gamblers will benefit out of this competition. They will have more options and the offered services will be of better quality. Considering everything mentioned, it seems that the next few years are crucial for the further growth and development of the Finish gambling industry.

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CATEGORIES : Casinos

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