Finland

Before 1940, the Finnish sports bettors could only wager on harness racing or "trotting," a form of horse racing more commonly known in Europe and especially Scandinavia. However, after the establishment of Veikkaus Oy and the simultaneous legal amendments related to sports gambling, the Finns had the first forms of legal sports betting at their reach. Over the years, Veikkaus Oy brought out multiple new sports betting products to entertain FI bettors, many of which, such as "multibets" (Moniveto), are still widely popular today.

In 2001, the state enacted yet another Lottery Act that reorganized the state's monopoly on betting activities. This modernized gambling legislation allows online wagering as it truly is the newest and most popular form of gambling. Since the government did not adopt a licensing system, it could not enable private operators to set up retail betting shops within the country.

The country did not address offshore betting until 2010 when the state amended the Lottery Act of 2001 to ban offshore sportsbooks from advertising their services in Finland. Therefore, as the legislation only restricts the advertising of offshore gambling products and services, these foreign operators can freely accept Finnish customers to their platforms and offer them pretty much all sorts of sports betting products.

Finnish gambling market news: Latest trends & developments

• March 5, 2025: According to the latest result publication, Veikkaus’ 2024 revenue falls 7.3% to €956.2M, with operating profit down 19.6%. The Finnish monopoly expects recovery in 2026 with online market expansion. Digital gaming made up 60% of revenue, while 39.8% came from retail sales.

• February 12, 2025: Finnish lawmakers will debate gambling reforms to create a regulated market like other EU nations. PM Petteri Orpo will present, discussing Veikkaus' revenue shift to state funds. The three-hour session will address the impact of ending Veikkaus' monopoly.

• January 2, 2025: Finland’s Lainsäädännön arviointineuvosto urges lawmakers to assess how the new gambling framework might increase gambling harm and strain healthcare. In its recent review, the council highlighted gaps in the legislation and called for more detailed analysis.

• November 4, 2024: As Finland prepares to open its commercial gaming market, lawmakers decide to include horse race betting in the competitive sector, previously monopolized. To support the industry, the Ministry of the Interior will allocate state funds for development, including funding for the horse breeding association Hippos Ry.

• October 27, 2024: The EGBA endorses Finland's plan to end its online gambling monopoly and introduce a licensing system. Calling it a "crucial milestone," the group supports the government's goals of improving player protection, boosting tax revenues, ensuring fair competition, and strengthening regulatory oversight.

• October 25, 2024: State-owned Veikkaus expresses full support for Finland's plan to regulate gambling and end its online monopoly by 2026. Deputy CEO Velipekka Nummikoski welcomed the proposed licensing system and pledged Veikkaus's cooperation with the government's reform efforts.

As gambling is part of the whole country's culture, Finnish people have enjoyed basically all forms of gambling for decades now. The national lottery (Lotto), run by Veikkaus Oy, has played a big part in Finnish culture since January 1971. In addition to the lottery, Veikkaus also operates its own online casino and poker platform, as well as Casino Helsinki, the sole retail casino in Finland, which opened its doors back in 1991.

However, as Finns are not restricted from visiting and placing wagers on online casinos and other gambling sites, and as the government has not placed any restrictions regarding individual gambling, the wagering options are pretty much endless in the country.

How Finland’s love for sauna influences betting culture

In Finland, the sauna is more than just a place to relax—it’s a deeply rooted tradition where people bond, debate, and even make big decisions. With over two million saunas in the country, it’s a natural gathering spot for sports fans. Betting discussions often happen between rounds of intense heat and ice-cold dips, creating a unique link between sauna culture and gambling habits.

Many Finns enjoy analyzing betting odds in the sauna, especially before major hockey or football matches. The heat, combined with the social atmosphere, encourages discussions about player stats, team form, and betting strategies. Some even place bets right after stepping outside, using quick cooldown breaks to check odds on their phones.

Mobile betting inside the sauna has become more common with the rise of waterproof smartphones. While extreme heat can make devices overheat, many Finns still take the risk, quickly placing wagers before their screens shut down. Even betting apps see evening spikes in activity, coinciding with Finland’s peak sauna hours.

Beyond sports betting, sauna-based wagers have existed for generations. Traditional sauna bets include who can endure the highest temperature or stay inside the longest. The loser might have to buy drinks, take an icy lake plunge, or perform a funny dare.

Psychologists suggest that hot environments increase risk-taking behavior, which could subtly affect betting choices. Whether it’s the relaxing effect of the heat or the rush of adrenaline, some bettors believe their biggest wins have come after a good sauna session. In Finland, sports betting isn’t just about stats and odds—it’s about tradition, camaraderie, and sometimes, a little sweat.

Betting on aurora borealis: Can you predict the northern lights?

In Finland, the Northern Lights aren’t just a breathtaking natural phenomenon—they could also become a unique betting market. The Aurora Borealis is famously unpredictable, influenced by solar activity, weather conditions, and geomagnetic storms. But what if bettors could wager on when, where, and how intense the lights will appear?

Some online sportsbooks already allow bets on weather-related events, like white Christmases or record-breaking temperatures. Adding Northern Lights predictions could create a niche betting category, especially in Finland, where aurora hunting is a national pastime. Bettors could wager on factors like visibility strength, exact location, or the dominant colors in the sky.

Aurora prediction models already exist, using real-time solar storm data to estimate when the lights will appear. Skilled bettors could study solar wind patterns, geomagnetic indices, and cloud cover forecasts to gain an edge. Some might even travel north at the right time to place live bets while watching the sky.

Casinos and sportsbooks in Lapland could capitalize on this trend, offering Aurora-themed betting promotions. Tourists visiting Rovaniemi or Levi for Northern Lights safaris might enjoy placing small wagers to enhance their experience. Imagine a special bet where winnings double if the auroras turn bright green!

While this market doesn’t officially exist yet, the combination of science, tourism, and betting culture makes it an intriguing possibility. If sportsbooks ever embrace the idea, Finland’s skies could become just as exciting as its sports arenas.