While gambling and betting are popular worldwide, Finns have taken an especially active role as bettors and casino users. The majority of casinos registered in Malta also target their services to Finland.
According to statistics, about 80 per cent of Finnish adults engage in some form of gambling annually. This is one of the highest figures in the world – practically four out of five Finns participate in gambling each year in some form.
The European Gaming and Betting Association (EGBA), which studies European gambling markets, estimates that around 40 per cent of gambling in Finland takes place online, with Finns spending an average of €500 per person on gambling annually.
So far, all gambling in Finland has taken place in a State-controlled environment, but in the coming years, Finland is expected to transition to an open licensing system, similar to Sweden.
Gambling traditions in Finland
Finland has a long history of gambling. One of the most notable milestones in the country’s gambling history is the founding of Veikkaus in 1940. Veikkaus is a state-owned gambling company that currently manages all gambling activities in mainland Finland.
The first physical slot machines arrived in Finland as early as the 1920s, and they have been popular from the start. Thousands of slot machines are located in the lobbies of shops and kiosks, integrating gambling into the everyday lives of Finns.
Veikkaus’ exclusive rights have been justified by the fact that gambling revenues can be directed towards socially beneficial causes, such as sports, culture, and health services. A large portion of Veikkaus’ profits is distributed annually to domestic support projects.
However, in the 21st century, Veikkaus has faced competition from international gambling companies operating from abroad. For example vedonlyontisivu.fi updates a list of them. Today, Finns gamble so much on foreign online casinos that Finland has decided to dismantle Veikkaus' exclusive rights.
Why are Finns such active bettors?
Gambling has long been an accepted and common form of entertainment in Finland. Betting has become an integral part of Finnish life, especially around sports. Finns primarily bet on events in the Veikkausliiga (Finnish football league) and Liiga (Finnish ice hockey league), with the NHL also attracting a lot of interest from Finnish bettors.
One reason for the popularity of gambling and betting may simply be the climate: During the winter months, outdoor activities and other hobbies may be limited, and many Finns spend more time indoors. Betting and other forms of gambling provide entertainment and excitement from the comfort of home.
However, the main reason is likely that gambling is widely accepted in Finland, and Finns have been familiar with it since childhood. Lotto and scratch cards have been part of everyday family life. Betting is not viewed negatively but rather as a normal form of leisure activity.
Additionally, Veikkaus’ active advertising plays a role. Gambling has always been advertised heavily across all traditional marketing channels in Finland.
Finland and international gambling markets
In Finland, gambling has always been dominated by Veikkaus, but over the past decade, Finns have increasingly turned to international gambling markets.
Foreign-registered online casinos and betting sites attract players with a wider range of games, better bonuses, and higher return-to-player percentages. For bettors, there is also a much broader selection of betting markets available.
Many of the online casinos favored by Finns operate under a licence from the Malta Gaming Authority (MGA). These casinos offer tailored services to Finnish players, such as Finnish-language customer support and localized websites.
Online casinos licensed in Estonia and Curacao are also popular among Finnish players. Estonia, in particular, has gained prominence alongside MGA casinos in recent years.
The growing popularity of foreign gambling companies has begun to raise concerns about Veikkaus' monopoly and how international competition affects domestic gambling revenues. It is estimated that as much as half of all gambling by Finns now takes place on foreign online casinos.
Gambling problems in Finland
Obviously, as Finns are active gamblers, the country’s gambling culture also faces serious challenges, particularly regarding problem gambling. Finland ranks high in Europe for gambling-related problems.
It is estimated that around 124,000 people in Finland suffer from some degree of gambling addiction, and gambling addiction has been recognized as a major public health issue. Approximately 3 percent of the adult population experiences severe or moderate gambling problems, which is a high number compared to many other European countries.
In 2021, Finland made an improvement when Veikkaus began restricting the use of slot machines by implementing mandatory identification requirements. Physical slot machines are believed to be one of the main contributors to the development of gambling problems in Finland.
Additionally, Veikkaus has reduced its marketing and campaigns related to slot machines and other gambling activities. Veikkaus has received considerable negative attention for its advertising practices.
Managing gambling problems has become even more challenging as Finnish players increasingly turn to international gaming platforms. At the same time, there has been much room for improvement in Veikkaus' own efforts to prevent gambling harm.
The future – opening the Finnish market
Gambling in Finland is undergoing a transformation. Finland’s gambling market has long been under the state monopoly, dominated by Veikkaus. In recent years, there has been discussion about whether Finland should shift to a licensing system, as Sweden did in 2019.
Now, Finland has decided that dismantling the monopoly system and moving towards an open licensing system is almost inevitable. Veikkaus’ market share is continuously shrinking, and reversing this trend is no longer possible.
Finland has planned to transition to an open licensing system as early as 2026. However, many experts believe this timeline is too optimistic and that the transition will be delayed by at least a year.
An open licensing system means that gambling companies operating in places like Malta could apply for a Finnish gambling licence. It is expected that all major casino operators will be interested in acquiring a licence, as Finland is already an important market for them.
This also means that marketing opens up and sites like suomalaisetkasinot.fi can market gambling within Finland.
However, Finland’s open licensing system will only apply to online gambling. Physical casinos, lotteries, and scratch cards will remain under Veikkaus' control.
Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.gamcare.org.uk/