Is Casino Legal in Finland and in terms of Monopoly

First when choosing an online casino you need to know if its license guarantees flawless work and safety. So, if you are planning to build a casino business your main task is to get a license for gambling.

Gambling has been flourishing in this country since the king of Sweden ruled. In the XII century, the Finns were fond of lotteries. The first slot machines were brought to Finland from Germany in the early 20th century, and the first and only land-based casino called Grand Casino Helsinki appeared in 1991. The second is planned to be set. in Tampere. At the moment, the main document regulating gambling in Finland is the Lottery Act published in 1966. Based on that law, all games that can bring financial benefit are considered a lottery.

The Government’s proposal to amend the Lottery Act has caught the attention of the Finnish Competition and Consumer Authority (FCCA). In its statement to the Interior Ministry, the FCCA called for a comprehensive and critical review of Veikkaus’s current monopoly position. The FCCA requires a thorough examination of whether the gambling monopoly actually generates the benefits that justify the existence of the monopoly. Avoiding the disadvantages of gambling is a prerequisite set by the European Union for allowing a state-controlled gambling monopoly.    

However, recent research done by the National Institute for Health and Welfare shows that recent reforms have not succeeded in preventing the harm and disadvantages caused by gambling. Veikkaus has also recently been heavily criticized for its gambling activities and related marketing measures, which are considered to promote gambling in an excessive manner. This aspect also supports the need to thoroughly study the current monopoly-based system and whether there is sufficient basis to maintain the Veikkaus monopoly.

Gambling lovers in Finland have more reason to have fun compared to the more conservative part of the world. Finland is known to have one of the most liberal approaches to gambling regulation. To a certain extent, traditional land-based casinos are still controlled by designated governing bodies. However, it still primarily allows casino operators to thrive within the industry and promote a more kinetic local economy. When it comes to online casino operators, it becomes easier because there are not as many regulations or laws governing online betting.