Finland as a country is situated in the northern part of Europe and the capital city of the country is Helsinki and the country shares its borders with Sweden, Norway and Russia. Nevertheless, there is another feature that can be attributed to Finland and that is the peculiarities of its gambling industry, especially in relation to Finland bookmakers and sports betting. Here in this article, the author has explained Finland’s Gambling laws and Regulations in detail specifically for the bookmakers and sports betting.
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Summary of Key Events
The Regulation of Gambling in Finland and its Laws
Historical Context
It is worth to mention that gambling has been always popular in Finland with its history starting from the 17th century. It was prohibited from 1899 to 1917 but has been allowed from 1917 up to the present. In the course of time Finland has created the whole system of regulation of gambling activities.
Key Legislation
The primary legislative framework governing gambling in Finland includes:
- Lotteries Act (1047/2001): In this paper I will be focusing on analysing the Finnish Gambling Act which is the backbone of Finnish gambling law.
- Government Decrees on Lotteries: Extensive provisions for the different types of gambling including lotteries, betting, and slot machines.
- Lottery Tax Act (552/1992): Applies to the regulation of taxation of gambling.
- Finnish Criminal Code (39/1889): Enumerates the unlawful activities concerning in gambling.
- Consumer Protection Act (38/1978): Protects the consumer rights in gambling activities.
- Act on Electronic Communication Services (917/2014): This ministry oversees the provision of online communication services such as online gambling.
- Data Protection Act (1050/2018) and GDPR: Regulate the process of personal data protection in the course of gambling activities.
- AML Act (444/2017): The rules aim at preventing and combating money laundering and terrorism financing in the gambling business.
Regulatory Agencies
The agency responsible for the regulation of gambling is the Gambling Department of the National Police Board also known as Arpajaishallinto. Their main roles include regulating the activity of gambling operators and compliance with the requirements of the law.
Finland Bookmakers: Regulatory Landscape
Monopolistic Structure
For a long time, Finland has had a state-controlled gambling business through Veikkaus Oy and PAF in the Åland Islands. These entities are only allowed to provide gambling services and this may include both the traditional and the online gambling.
Licensing and Fees
Up to this date, there are no available licenses given to private operators for the provision of gambling services in mainland Finland. Nevertheless, there is a major shift that is set to happen. In this regard, in April 2023, after the parliamentary elections, the new government set a goal to introduce a partial licensing system not later than January 1, 2026. This system will regulate the online casino games and the sports betting while other forms of gambling will still be the preserve of Veikkaus Oy.
Prohibited and Allowed Bets
Veikkaus Oy and PAF are very particular when it comes to the kinds of bets that are permitted. Real money can’t be used in free spins and free bets. Additionally, there are mandatory loss limits to promote responsible gambling:
- €500 per day
- €2,000 per month
- €15,000 per year
Taxes on Gambling
The taxation regime for gambling in Finland is governed by the Lottery Tax Act:
- One percent of the total value of winnings in bingo games is to be donated.
- By statute, 12 percent of Veikkaus’s profits from exclusive right gambling services go directly to the state.
- Other lotteries are allowed to provide 30% of the total prize value for the above lotteries.
Finland Sports Betting: A Peek at Tomorrow
Current State
Betting on sports in Finland is legally provided by only one company called Veikkaus Oy. However, the partial licensing that is scheduled to be put in place in the near future will alter this environment to accommodate more operators who will be in a position to provide sports betting services.
Sporting Event Glory Milestones
Finland has a great history in sports and being very successful in different areas, which contribute to the popularity of the sports betting. Some key milestones include:
- 1908: The first Olympic Games that Finland took part in.
- 1912: Hannes Kolehmainen takes three Olympic gold medals.
- 1920-1928: Paavo Nurmi earns nine Olympic championships.
- 1995 & 2011: Finland takes the championship for Ice Hockey World Championships.
- 2007: This year, Teemu Selanne celebrates his victory of the Stanley cup while playing with the Anaheim Ducks.
Future Developments
The new licensing system is to create a more competitive environment for sports betting. This new change is in an effort to increase consumer options and also to provide better supervision of gambling activities.
Conclusion
To sum up, the future of Finland bookmakers and Finland sports betting is quite bright thanks to the change in the regulation that will allow a partial licensing soon. This was expected to improve competition and increase the level of regulation in the gambling industry for the consumer and the operator. Finland is still a rather interesting country to observe in regards to its gambling legislation and surrounding developments, and will likely be an important market to monitor in the future of sports betting and gambling.
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