Finland heading towards gambling licensing system

With online casinos on the rise, the competition within the gambling industry is tough and it can sometimes be a challenge in keeping up to date with the newest ones. Uudetkasinot.info is a website that was launched in the summer of 2023 and offers information about new online casinos, which currently work under a legal Maltese gambling license.

History of the Finnish gambling system

Finnish gambling roots can be traced back to the time of horse betting and Toto games - which are still popular to this day. Present day, the state monopoly on gambling has been effective for over 70 years and the services are strictly provided by Veikkaus Oy. Veikkaus and RAY – the Finnish Slot Machine Association, were merged with Fintoto in 2017.

Gambling profits have been used to fund multiple public interest activities such as:

●      Physical education and sports

●      Science

●      Art

●      Health and social wellbeing

●      Youth work

Veikkaus has seen some loss in revenue in recent years as online casinos have steadily risen in popularity – which is one of the main reasons for the shift towards a license-based gambling system.

The main points of the new Government Programme

The new Government Programme goes by the name of ‘A strong and committed Finland’ – the Government’s vision. It contains a plan for a reform of the Finnish gambling system. The plan is to open the system for competition by the start of 2026, at the latest.

Online gaming is on the rise

The licensing system would cover both online betting and casino games. Companies that operate in the digital gambling market outside of the current monopoly, are currently making a profit without paying licensing fees and taxes to Finland, which is an issue this reform strives to fix.

Uudetkasinot.info lists all the newest online casinos

Launched in the summer of 2023, the site itself is completely new. Its main purpose is to provide useful information for people who are interested in gambling. As new online casinos pop up regularly, the site lists them whilst focusing on quality gambling experiences.

The licenses of modern online casinos

Uudetkasinot.info holds the casinos to a high standard, which means that they tend to be appropriately licensed. A gambling license informs the user that the casino is committed to strict security standards and operates under the supervision of proper authorities.

MGA’s license still holds up

Most of the sites popular with Finnish gamblers currently operate under the gambling license issued by Malta’s authorities. The Malta Gaming Authority’s license is seen as a guarantee of a high-quality gambling experience. It is especially useful for Finnish players since the winnings from an online casino licensed within the European Economic Area are always tax-free.

Will the reform largely impact Finnish online gambling?

The short answer is no, probably not. The new licensing system will impact the industry itself, as online casinos that currently offer their services from abroad, will be required to pay licensing fees and taxes to Finland.

Finnish players have always been legally allowed to play on sites that have also been permitted to offer their services to Finnish players – with the only limitations arising when it comes to advertising.

Conclusion

There are big changes ahead when it comes to the Finnish gambling system. However, this will not have a huge impact on players, as they already obtain plenty of experience playing on licensed online casinos. Finnish players tend to favour sites licensed by the MGA as their activity is strictly regulated and the winnings are tax-free within the EEA. 

Uudetkasinot.info has been listing these modern and trustworthy sites starting in the summer of 2023. Players can find plenty of fresh and high quality casinos and in the future, they may even be licensed in Finland.

Disclaimer: Online gambling is restricted from players under 18 years of age. Play responsibly. If you play long enough, you will always lose. Seek help in case of a gambling problem from begambleaware.org.