Why Finland’s Online Casino Industry Is on the Rise
Currently, Finland is one of the countries with an emerging casino industry. The booming casino industry of Finland makes the country's economy on the rise. Now, there are 16 casinos in the country operating both offline and online.
One of the Happiest Countries in the World
Every year, Finland always makes it to the list of the happiest countries in the world conducted by the United Nations. Out of the 156 countries, Finland always hits the top. Being on the top of the list proves that the people of Finland do not mind getting after what makes them happy. One of the ways that the Finns entertain themselves is through different activities, and online gambling is one of them.
Finns are into gambling too often that the country is now one of the largest consumers of online gambling in Europe. They even spend almost EUR 2 billion each year on online casinos.
Limitless Options for Online Casinos
You need to pay for your travel and your lodging if you want to play in land-based casinos. As for online casinos, there is no need to spend on so much expense. When online casinos emerged in Finland, more people became hooked on the convenience that it brought. Also, land-based casinos only have a specific number of games that can fit into their space. As for online casinos, the games are limitless and endless.
Regulations and Laws on Online Casino Operations
Finland believes in its people's capabilities, that is why the country only allows Finns to open casinos and not foreigners.
In 2017, the country allowed three different betting agencies to operate as long as they redistribute the profits to the local agencies. Finland called these agencies as Veikkus Oy. These agencies distribute 53% of the profits to the Ministry of Education and 43% to the Ministry of Social Affairs. 4% also goes to the Ministry of Agriculture.
Because of the regulation, people began to think that they are helping the country by gambling. With this thinking, people will not feel guilty after spending so much money on betting.
In June 2019, Veikkus Oy announced that it would partner with International Games Technology (IGT), and its validity will last for four years. One of the IGT suppliers, PlayRGS, will provide online games to many of Veikkus’s online casinos.
The CEO of Veikkus revealed that the partnership with PlayRGS would expand their online games, creating a more extensive selection of online casino games.
Future of Online Gambling in Finland
Finland still holds its law of not allowing foreigners to do gambling business in the land. However, with the continuous expansion of online casinos in the country, there would be no need for foreign investors as of today.