Gambling has become one of the most popular forms of entertainment. The industry is growing at an annual rate of 5.6% and is expected to be worth more than $94 billion by 2024.
In Finland, both online gambling and land-based casinos have a huge following. You can play anything from slots to betting on horse races and lottery. There are sites like netticasino247.com, where you can find all the online games on one site.
Finns are known to be enthusiastic gamblers. The gambling industry collects average revenue of £3.2 billion every year.
How Much Do Gamblers Spend
It was estimated that around a third of the adult population gambled every week, and 83% had gambled at least once in the previous year, in research done in 2016.
In the 2015 Finnish Gambling survey, weekly gambling expenditure in €/week for non-monopoly games was 146.84, 59.61 for online poker, 48.67 on horse race betting, and 51.77 on scratch games.
Different games had different expenditure depending on popularity. Weekly betting on horse races and monopoly games had the highest expenditure.
Of course, with the increased growth of the gambling industry, the introduction of more attractive games together with the increased popularity of online gambling, people are gambling more than they did in 2015. Thus, expenditure is expected to be higher.
Betting Games in Finland
Gambling in Finland is run by 3 companies. RAY runs slot machines and table games, Veikkaus operates the lotteries and Fintoto oversees horse racing gambling.
Sports Betting: It is popular but not as in the UK. Baseball is considered a national sport, thus a target for betting. Other betting sports are ice-hockey, skiing, and harness racing.
Lottery: Veikkaus offer several lotteries to Finns, including Euro Lottery, Viking Lotto, Finnish National lottery, and other games like pick 12 from 24 where one gets €625000 when correct.
Slots: There are around 4000 game shops where you can play slots on slot machines owned by Ray.
Poker: there’s only one poker room in the country. Online poker rooms also accept Finnish citizens giving everyone a chance to play poker.
Bingo: Only a registered not-for-profit organization or an independent foundation can run bingo in Finland.
Sales Promotional Gambling: Sales promotional games for periodicals and newspapers are offered though you’re not actually “gambling” as there is nothing you’re putting at stake.
Charity Gambling: Organizations are allowed to hold lotteries where they reward winners with goods as prizes. They are not allowed to offer money as prizes.
The Finnish Sports Federation runs several such lotteries every year.
Gambling Laws in Finland
Gambling is regulated by the government. You must be 18 years to gamble, have a bank account, a permanent residence, a Finnish security number, and not gamble more than €460 in slot and table games.
In 2019, there were plans to expand and incorporate online games by Veikkaus. There was a new partnership with International Gaming Technology, which will by providing installation and support of online games.
The Act on Lotteries review suggests that Finnish players will be playing online games only through an account by Veikkaus.
Gambling is loved by many in Finland; no wonder the people spend a lot of money gambling. The government has over the years managed to control gambling.
Finnish citizens are not barred from playing in online casinos, including international ones. The government, therefore, loses a substantial amount of revenue to these sites.