Nordic country of Finland is located in Northern Europe with Sweden, Norway and Russia as its neighbouring countries while on the southern side is the Gulf of Finland and on the western side is the Gulf of Bothnia. Finland declared its independence on 6th December 1917 and a year later in 1919, it emerged as a republic. The Finnish gambling fans are protected by well-developed legislation that sets the rules of the game. In this blog post let’s focus on sports betting & betting sites in Finland, Finnish gambling regulations, and Finnish sports success.
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Table of Contents
Summary of Key Events
Gambling Regulation and History in Finland
Gambling has been part of Finnish culture for centuries and it is believed that the first Finnish lottery was started in the 17th century. Nevertheless, it has been subjected to several limitations for a long time now.
- 1899-1917: Gambling was banned.
- 1917: It can be noted that gambling was legalised after the independence.
- 2017: The merger would combine Veikkaus Oy and two other companies into one company, making it the sole gambling company.
An Insight of the Regulatory Bodies of Gambling in Finland
Gambling in Finland is controlled by law so as to promote for equitable and accountable gaming.
- The National Police Board is the institution responsible for surveillance, compliance, and licensing.
- Veikkaus Oy is the only authorized company for gambling in Finland while PAF is limited to Åland Islands.
- The Goverment of Åland Islands controls and supervises gambling on the islands.
Legal and Illegal Betting in Finland
The Finnish gambling laws were developed to ensure fair trade and protection of consumers.
Permitted Bets:
- Casino games
- Sports betting
- Lotteries
- Horse racing
Prohibited Bets:
- Unlicensed online gambling providers
- Placing a bet on some of the prohibited activities.
Gambling Licenses – Fees and Taxes
To get a gambling license in Finland certain conditions and payment must be met and passed through
License Types:
- Casino games
- Sports betting
- Lotteries
Fees and Taxes:
- Lottery tax range is between 5% to 30% on the amount staked depending on the type of lottery.
- To support social causes Veikkaus Oy’s profit is subjected to a lower tax rate.
Best Betting Sites in Finland
There is a number of betting sites which are focusing on the Finnish audience and which provide a great number of possibilities.
Mr. Green:
MrGreen
Provides a vast number of sports events for betting.
Crickets and other virtual games with competitive odds on live events.
Attractive promotions and bonuses.Up To £100
Mr. Play:
Mrplay
User-friendly interface.
Live streaming for the sporting events.
Different campaigns at different times of the year.Up To £100
22Bet:
22Bet
Focuses on Scandinavian sports.
Popular sports and leagues, competitive odds.
Many choices of bets.Up to £122
Sports History of Betting Sites in Finland
Due to its history of sports success, Finland has a very active betting culture that complements the many achievements in the world of sports.
1952 Helsinki Olympics:
- Finland participated and emerged well in different games.
- Improved the status of the country on the international level regarding sports.
1995 Ice Hockey World Championship:
- For the first time in history Finland won the gold medal.
- An event that was observed all across the country.
2011 Ice Hockey World Championship:
- Finland took its second gold medal.
- Thus, it only solidified its position as one of the strongest hockey nations.
Celebrating Finnish Sports Stars
Thus, Finnish athletes have earned their place in the history of international competitions.
Paavo Nurmi:
- A noted athlete, he is a nine time Olympic gold medalist in middle and long-distance run Athletics.
- Set numerous world records.
Teemu Selänne:
- Legendary ice hockey player.
- A 10 time NHL all-star and a Stanley cup champion.
Kimi Räikkönen:
- Formula One World Champion.
- Popularly referred to as the ‘Iceman’ because he is calm and accurate.
Gambling Laws of Neighboring Countries
Knowing the situation of gambling in the neighboring countries can be helpful for the context.
Sweden:
- This paper is written in the context of Sweden and thus gambling is regulated by the Swedish Gambling Authority.
- Legal operators are supposed to remit 18% of their gross revenues to the government as taxes.
Norway:
- The gambling policies are quite stringent and there is no private gambling operation allowed.
- The following authorities regulate the gambling activities in the country; Norsk Tipping and Norsk Rikstoto.
Russia:
- The only exception is that gambling is permitted only in certain areas.
- High taxes and rules and regulations on any winnings that are got from gambling.
Conclusion
The Finnish gambling market has a rich history, and at the same time, it is characterized by the development of new trends, and the focus on the prevention of gambling-related harm. Whether you are up to finding out more about new betting sites or the history of sports in the country, you will be able to get all the information you need.
FAQ: Betting Sites in Finland
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