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Get more information on online gambling licensing in Finland.
In 1996, Finland legalized online gambling. It is regulated by the Alands Penningautomat Foreining (PAF). This authority handles the regulation of gambling in the Aland Islands of Finland. The PAF regulates a wide range of online gambling operators including bingo websites, online casinos, poker rooms and online sports books. The income from these games supports social and sports projects in Finland.
In addition to the PAF, there are other government participants in the gambling market in Finland including:
- RAY: This is a regulatory body for land-based casinos that is in charge of table games, slot machines and other casinos games
- Veikkaus Oy: Veikkaus is the authority responsible for the monopolization of the National Lottery in Finland. This body ensures that the money raised from the lottery and the gambling market in general is used to support science, culture, sports and art.
- Fintoto Oy: Fintoto is responsible for the regulation of the horse racing market which is also used to make money for Finland. This gambling authority makes sure that the money generated from horse racing is used for improvement projects for horse sport activities as well as horse breeding.
The European Commission has tried to get Finland to open its gambling market and even though the Finnish government has been resistant to this it is likely the market will be opened up. In addition, the European Commission will also get involved with the monopolies in Finland and Scandinavia. The gambling market can be a lucrative one for many countries and it is highly probable that Finland will work to increase its gambling market.