Find the Best Bookmakers in Finland 2023 🇫🇮

Everything you need to know about betting in Finland

Finnish punters can access hundreds of betting sites. The government strictly regulates the sports betting industry. Not withstanding, the Finnish government owns the biggest and the most popular sports betting site called Veikkaus.

There are, however, many options for Fins who might not wish to place their bets on the government-owned bookmaker. There are both international and local sites that you can place your bets on whether or not you live in Finland. Each site has its unique features, so you may want to study different sportsbooks before settling on one.

It is worth noting that some of the most popular betting sites show a predisposition towards Finnish punters. This means that it might be somewhat tough for a player looking for the absolute best. For an excellent sports gaming experience, Finnish punters have some of the best foreign bookmakers at their service.

Finland players' favorite sports to bet on

Gambling is a popular pastime activity in Finland. Besides lotteries, sports betting is increasingly becoming popular among Finnish punters. Among the most-wagered sporting activities include ice hockey, football, horse racing, and Pesapallo (the national game of Finland). Of all these games, soccer stands out among bettors, but ice hockey has the most television viewers.

Most bettors place their wagers on Pesapallo matches. This league has 14 teams in the men's category and 12 in the women's. Finland's professional Pesapallo league is called Superpesis. There is also a world cup for men, women, and mixed teams. Finland has won this competition numerous times hence its popularity.

Ice hockey is yet another popular sports in the country. Despite several failed attempts to win a gold medal in global events, both the women's and men's teams are highly ranked in the sport. The men's team sits at the fifth position while the women's is third in the IIHF world rankings.

Most bookies also feature a few odd games. These include Reindeer Racing and Cell Phone Throwing, among others.

Payment methods in Finland

Finland is well-known in the financial markets as a leader in online payments, as evidenced by the fact that it is one of the few countries today that have witnessed a cashless revolution. Finnish bettors can employ various payment methods to deposit and receive funds. Here are some payment methods that appeal to most Finnish punters.

Transfer Casino

Also known as the Siirto Casino, Transfer casino is undoubtedly the most common payment method used in Finnish casinos. This is attributed to the fact that players easily transfer funds from their bank accounts to their casino accounts.

Credit Cards

Finns can also use their MasterCard or Visa credit cards to deposit funds in their betting accounts. This payment method is equally easy to use, and it comes with some extra protection from online threats. With MasterCard and Visa, players do not have to worry about data breaches.

E-Wallets

E-wallets are a safe choice among Finnish punters at online gaming sites. Some of the most popular e-wallets among the Finns include PayPal, Skrill, Neteller, and Trustly. Funding and withdrawing money using these platforms is usually instant. Players, however, incur the fees that each platform charges for its services.

A few operators have added a new feature called Pay N Play, where players can now deposit funds to their accounts without registering. That means that players can play in real-time without having an account.

History of Betting in Finland

Betting in Finland dates back more than a century ago. The first slot machines came from Germany and became extremely popular with the Finnish population. Around 1933, the government brought about legislation to control the industry that was rather going wild. The legislation curbed the influx of private operators and limited the gambling landscape to registered charities.

At around 1938, the Finnish government introduced a new betting provider, Raha-automaattiyhdisty or RAY, to promote responsible gambling. After RAY, the government went ahead to form yet another body called Veikkaus Oy. The country's agency is tasked with regulating lotteries in Finland. Money collected from these lotteries funds sports, science, and culture.

Betting nowadays in Finland

Gambling and betting have come a long way in Finland. PAF or Play Among Friends, an organization formed in 1966, has been responsible for governing betting operations in Finland. In 2002, the government declared RAY the only official betting provider through legislation.

However, the latter had better odds, and more people preferred it to the former. The government decided to allow both bodies to operate to avoid a conflict from arising but under heavy government regulation.

There are no signs of the government's monopoly over gambling ending any time soon. The government might even tighten the regulations considering the important function of this industry's revenues in the country.

As the online market expands, gaming revenue will increase as more people access betting. More revenues are good news to the Finnish government as it can better its social services.

Future of betting in Finland

Gambling is a lucrative industry in Finland. Records show that it generates more than €1billion in revenues every year. The Finnish government uses the proceeds from this industry to fund the Ministry of Education. They help fund and promote science, culture, arts, and sports.

Betting has a promising future considering the level of support from the government. The European Union (EU) has on several occasions tried to have the Finnish government relinquish its monopoly, terming it as "protectionist," but the Finnish government has steadfastly ignored those calls.

The Finnish government is adamant that strict government regulation and monopoly is the best way to check the excesses associated with betting. In 2020, the government adopted measures to see the Lotteries Act's reformation.

The main aim of these reforms was to address any 'dangers' posed by gambling to the locals. Thus, the government's monopoly continues since it still receives considerable support from the betting community.

Looking at the direction the betting industry is taking in Finland, it remains apparent that it is moving more towards more regulation and legislation. In Finland, it is not a question of whether betting is legal, but when the government will ease the controls.

Since the Finnish government controls most betting sites, many bettors are now looking for international operators online to get in a bid to inject some fresh air into the gambling exploits. However, the Finish government is aware of these developments and is trying to expand its portfolio and venture online to discourage locals from betting at offshore casinos.

Are casinos legal in Finland?

There are not as many casinos in Finland, but the few available are legal and government-controlled. The biggest casino is in Helsinki. It is called Casino Helsinki. This casino donates more than 95% of its profits to charity.

The other big casino in Finland is the Paf Casino. Similarly, this casino also donates nearly all profits to charities and other worthy causes. Very few casinos worldwide have such policies, but Finland has two among the few, which is quite an impressive achievement.

Betting legislation in Finland

Betting legislation in Finland is the sole discretion of the Finnish government. As mentioned previously, the government controls all betting and gambling activities, including physical entities and online sites. Any establishment, investor, or individual who wants to offer sports betting services in the country must seek approval from the government.

Currently, four main bodies regulate sports betting in the country. These include RAY, Veikkaus OY, Fintoto OY, and PAF. However, RAY is the largest of these organs and the leading regulatory authority in the country.

Veikkaus OY regulates sports betting and lotteries, while Fintoto OY regulates horse race betting. Lastly, PAF is an added regulatory authority that controls gambling and betting in Finland's Aland Islands. The government is the overall regulatory authority and monitors all four bodies.

Online gambling is legal in Finland, but the government has the final say in determining which sites enter the market. This control limits bettors' options, but they can bet on other international sites personally. There is no regulation or mechanism to prevent gamblers or bettors in Finland from signing up with other offshore sites.

The only hurdle they are likely to face is the availability of local payment methods in offshore casinos. This legislation has seen Finland rub shoulders with the European Union, which advocates for an open and free market among its member states. Notably, 40% of Finland's gambling and betting industry activities now happen online.

There are also strict regulations on who should and should not bet in Finland. Only individuals above 18 years are allowed to engage in gambling activities.

Betting Acts in Finland

The betting environment in Finland has remained largely unchanged for more than 50 years. Gambling laws in Finland are encapsulated in the Lotteries Act. This law was set to protect gamblers and curb the negative effects of gambling in the country.

The Finnish government has introduced a few regulations over the years, key among them being the Lotteries Act of 2001. This betting legislation, which has only had one amendment in 2010, aims to protect gamblers and reduce or protect bettors from adverse effects of betting addiction. The 2010 amendment to the Act did not affect the regulatory procedures as it mainly addressed the industry's marketing side.

According to the Lotteries Act, taxation plays to the advantage of Finnish punters. The government allows Finnish players to keep their entire earnings. They get to cash out 100% of their winnings. The government only keeps the proceedings of the losing bets, which it uses to fund the different activities in the country.

Players also do not pay any fees to deposit or withdraw funds from sites that operate within Finland. However, one can only deposit funds at designated times, normally between 6:00-24:00 CET. These restrictions are meant to encourage safe and responsible betting. Players can make withdrawals anytime.

According to the Communications Act of 1934, it remains illegal for any media company or otherwise to advertise any foreign gambling website. Companies found violating this law are liable to heavy penalties that include hefty fines or jail terms. Finnish sportsbook operators try their best to adhere to the set regulations strictly.

It is also worth noting that Finland's Interior Ministry regulates gambling activities. Occasionally, this ministry comes up with gambling-related rules through decrees. Also, the National Police Board is tasked with ensuring that gambling rules are strictly adhered to in the country.

FAQs

What are some of the best sites to place wagers in Finland?

Finnish players have numerous options at their hands when it comes to online betting. For starters, some of the best betting sites in Finland include Bet365, Casumo, 888Sport, PariPesa, Mr. Green Unibet, LeoVegas, and Mr. Play, among others.

What are the available payment platforms to fund betting accounts?

Banking is another area where Fins have many options. Punters can choose between traditional payment methods such as MasterCard and Visa cards, or they can also explore the possibility of using popular e-wallets such as PayPal, Netteller, Euteller, Trustly, and Skrill, among others. With crypto payments taking the industry by Storm, Finns can also use Bitcoins and Euthreum while playing for real money.

Are there charges when withdrawing or funding betting accounts?

Yes and No. In most instances, most online casinos do not charge players making deposits. However, except with crypto payments, most of the commonly used payment methods attract a charge.

Are Fins taxed on their gambling winnings?

No, Finnish punters do not have to worry about paying taxes when playing at online casino sites. However, only winnings from the lottery are taxed.

What are the most wagered sports in Finland?

The most popular sport in Finland is their national sport Pesapallo. Other popular sports to wager on include international soccer, ice hockey, horseracing, and Formula 1.

Most Popular Bookies in Finland