Online Gaming in Finland
Without doubt Scandinavians truly enjoy in casino games. Even rigorous bans can’t take them away from the fast spinning reels or keep them away from any casino table games. Finland has maintained a reputation as a jurisdiction that treats well both their three betting and gaming entities and the willing players. The Finnish government returns all profits back to the society by funding a variety of projects in the area of art, sport and other benevolent projects of which the community will benefit. The EU does not agree with this not-for-profit approach as the rest of EU allows casino operators to operate on a free market. Despite this lobbying so to speak the casino market in Finland remains a monopoly dominated by the entity called RAY.
Online Gaming Rules and Regulations in Finland
Even before World War II Finland operated these activities under this system. It seems like they have no intentions of making any changes whatsoever. The community doesn’t argue that something needs to be done, like restrict gambling or maybe liberalize the market as this way it benefits the most. Willing players can play at land-casinos and they can play online on RAY’s website. However, not much is said about online gambling. Theirs is no legal framework that deters Norwegian players from playing outside of their borders, i.e. at online casinos.
The Casino Market in Finland
The market is clearly dominated by RAY, PAF and Veikkaus Oy. If a common Finnish person were to indulge in any betting or gaming activities at a land operator in Finland its host will be one of these 3. This protectionist system has turned out to work pretty well for the Scandinavians, but how long will they be able to persevere under the pressure of EU.
Players coming from Finland are accepted at a huge number of online casinos. In fact the majority of them will accept wagers from and some of them will even put them on pedestals. Usually they’re offered special promotions, different deposit and withdrawal limits etc. It seems like the Finland population is able to enjoy in gambling the most out of the all Scandinavian countries.
Online Gaming and Taxes in Finland
Due to the nature of the current regulatory system in Finland the tax rates may seem a bit overwhelming. Nonetheless, at least these players can actually play without worrying that some official will show in front of their door. Lottery, casino and sports betting operators pay 1.5% of their income derived from automated machines such as slots. On top of this they pay additional 10% of their gross profit.
On the other hand players are entitled to pay a 30% tax on all winnings, regardless of their origins. Since there’s no clear framework regarding playing at other international online casinos Finnish tax authorities seem to have left out this category. If we consider other countries’ tax laws Finish players presumably should report their winnings and pay the appropriate 30% tax.