| Updated: September 26, 2025Considering its small population, Finland boasts a surprisingly large betting market. Many Finns are passionate about numerous sports, the most popular of which are ice hockey, skiing, basketball, football, and motorsports. However, Finland’s gambling and sports betting laws differ significantly from those in other Scandinavian countries. Many of our readers may be surprised to learn that Finland is the only country in the EU that has not abandoned its gambling monopoly.
Veikkaus Oy and PAF, located in the autonomous Åland Islands, are the two state-backed companies that hold exclusive rights to provide gambling services to Finnish casino fans and bettors. However, no law prevents Finnish sports enthusiasts from using offshore betting sites.
Best Sports Betting Sites in Finland
Although Finland has established a full state monopoly on all forms of gambling, no law prevents offshore sportsbooks from accepting Finnish bettors. This means Finnish residents can choose from a wide range of reputable betting sites that will make them feel at home.
Since Finland does not issue gambling licenses to offshore operators, you are free to use any online sportsbook that caters to the Finnish market. Nevertheless, exercise caution when choosing a betting site, because not all of them are trustworthy. Finnish residents seeking a reliable sportsbook with competitive odds should consult our list of the best online sportsbooks in Finland.
Best Sports Betting Bonuses in Finland
Online sportsbooks offer various bonuses to differentiate themselves. Many sports fans choose a betting platform primarily because of the promotions it provides. Therefore, it is essential for operators to present generous offers to both new registrants and existing users.
Fortunately, there are no restrictions on the bonuses that online sportsbooks can extend to their Finnish customers. Nonetheless, punters should remember that sportsbooks never simply give away free money. There are always bonus terms that must be met before you can cash out any profits.
Match Deposit Bonus Free Bets and Risk-Free Bets Acca InsuranceMatch Deposit Bonus
Finnish punters can choose from many sportsbooks that match their first deposits by a certain percentage up to a specified amount. Although these offers are typically aimed at newcomers, some betting sites targeting the Finnish market extend match deposit bonuses to existing customers as well. Such bonuses generally come with wagering requirements that bettors must meet before converting the bonus funds into cash. In addition, punters must observe any odds restrictions when wagering with bonus money. Some sportsbooks also require players to wager a specific amount before the bonus funds are released.
Free Bets and Risk-Free Bets
Another attractive promotion available to Finnish punters is the free bet. Certain betting sites grant free bets to new registrants, giving them the chance to place wagers without risking their own funds. However, some operators first require players to deposit and stake a specific amount before the free bet becomes available.
Remember that free bets cannot be withdrawn. If you place a wager with a free bet and it wins, you receive only the profit. Some sportsbooks also provide risk-free bets, refunding your stake if the wager loses; the refund is usually paid as a free bet.
Acca Insurance
An accumulator combines selections from multiple games into one wager. Every pick must win for the bet to pay out; if even a single selection fails, the entire bet is lost. Punters who opt for Acca insurance receive their stake back as free bets or bonuses if the accumulator falls short by only one selection. Acca insurance is offered on specific sports and markets, as determined by each operator.
Betting Regulation in Finland
Gambling and sports betting have been popular among Finns since the 17th century. Nevertheless, the country banned all forms of gambling in 1899. The prohibition did not stop punters from wagering on their favorite sports; many traveled to Sweden, where gambling was permitted. Eventually, the Finnish government realized that the strict ban on gambling had a negative impact on the economy and decided to legalize lotteries and horse racing in the 1920s.
Finland then adopted a unique regulatory model by establishing a gambling monopoly. Three state-owned entities were granted exclusive rights to provide gambling services to Finnish residents. RAY was authorized to offer land-based gambling, Veikkaus Oy managed the national lottery, sports betting, and instant-win games, and Fintoto Oy handled parimutuel horse racing.
In January 2017, the three organizations merged into a single state-owned monopoly called Veikkaus. A fourth organization, PAF, is responsible for overseeing all gambling activities in the Aland Province.
The Lottery Act of Finland Finland’s Gambling Monopoly is Against EU LawsThe Lottery Act of Finland
In Finland, all profits from gambling activities are used to support social welfare, health, sports and culture, science, and other public interests. The gambling industry in Finland generates over one billion euros every year. Although Veikkaus is the only company authorized to offer gambling services to Finns, the law does not prevent punters from using foreign operators. As a result, offshore sportsbooks may accept Finnish customers but are not allowed to advertise their services in the country.
Finland enacted its first gambling law, the Lottery Act, in 1966. The act provides key definitions for the different forms of gambling and even classifies bingo and keno as subcategories of lotteries. Over the years, the Lottery Act has been amended several times. In 2002, lawmakers introduced significant reforms to Finland’s gambling legislation, requiring that licenses be issued for the provision of various gambling activities.
The Lottery Act also sets the minimum gambling age for all activities, including sports betting, at 18 years old. Importantly, Finnish punters do not have to pay taxes on their sports betting winnings.
In 2021, the Finnish Parliament approved additional reforms to the Lottery Act to combat problem gambling and reinforce the position of the state-owned betting agency Veikkaus. Among the new measures is a payment-blocking scheme designed to stop Finnish punters from depositing funds at blacklisted betting sites. The updated Lottery Act came into force on January 1, 2022, while the payment-blocking scheme was introduced at the beginning of 2023.
Finland’s Gambling Monopoly is Against EU Laws
Finland is a member of the European Union and, as such, should comply with EU rules on the free movement of services. In practice, this means the country ought to allow foreign operators to obtain local gambling licenses. Because Finland does not issue such licenses, it cannot block betting sites that accept Finnish punters.
In the past, the EU reprimanded several Nordic countries, including Sweden and Denmark, for maintaining gambling monopolies, and Finland’s monopoly was likewise criticized. In 2020, the European Gaming and Betting Association (EGBA) noted that Finland was the only EU nation that still upheld a gambling monopoly.
Nonetheless, the country declined to dismantle its monopoly, arguing that doing so would negatively impact multiple organizations that rely on gambling revenue.
In January 2023, Finland announced an investigation to examine the possibility of ending Veikkaus’ gambling monopoly. At present, offshore sportsbooks operate freely without paying taxes, whereas Veikkaus must comply with all restrictions. The Minister of European Affairs and Ownership Steering, Tytti Tuppurainen, stated that dismantling the monopoly would serve the best interests of both the state and Finnish punters.