Finland is popular for many reasons. First, it is the happiest country in the world. It has the purest air and the best education system. Other attractions include its reindeer, thousands of lakes, and Santa Claus Village.
At first glance, Finland does not seem ideal for an online gaming revolution. However, the country has grown into a powerhouse over time. It is full of opportunities for fans and online casino operators. Here are some reasons the region has been so competitive.
1. Variety of options
The number of land-based casinos in Finland is limited. While this might sound like a problem, it actually fuels the online marketplace. All land-based casinos in the country are operated under a state monopoly. The number of operators is therefore limited. It is no surprise that betting fans are turning to online casinos.
Online casino operators do not have to face severe restrictions. Therefore, there is a greater variety of online casinos for Finnish players. International operators love the Finnish market and are happy to invest in it.
The economy is vibrant and the government does not impose many restrictions, even on casinos physically based elsewhere. Many operators based in Finland have already established themselves in the country, offering more options to local players.
2. Change of ethics
The Finns have had some concerns about the increased growth of online casinos in their country. While the casino providers were making a profit, many were concerned about the problem of gambling addiction. There were not enough regulatory measures to protect these bettors.
However, regulations are now in place to promote responsible gaming. This has always been a problem, but it has become more evident during COVID shutdowns. The industry continues to grow and evident efforts are being made to improve the relationship between betting fans and online casino providers.
3. An adaptable market
As the audience for online betting continues to shift from desktops to mobile devices, Finland is evolving with it. In fact, the country has always been ahead of the game in this regard. Over the past year, mobile casino gambling has grown ten percent.
Finnish bettors remain adaptable in both online and offline markets. Their government is pretty relaxed about online gambling, and people are always happy to try new things.
Finland is generally forward thinking and most people support the idea that people are free to make independent choices. The freedom to adapt as you see fit has helped expand the market.
4. Technological advancement
Finland benefits from exceptional technological progress. In fact, it is one of the leading European countries when it comes to technology. Over 5.5 residents are actively engaged in some form of online gambling activity.
As a result, the industry brings in two billion euros each year. If things continue as they are, the sum may increase. All profits from state-owned facilities go to projects that benefit society, including education and environmental research.
Since players know where the profits of the online betting industry are going, they are excited to give online casinos a try.
5. Diversified market
Finnish online gambling sites cater to a variety of markets. Poker games and video slots have not been available to players for a long time. However, they are now available at almost all online casinos.
Liberal regulations, an open-minded population, and a tech-savvy marketplace have allowed online casinos to target larger markets. Being such a progressive country, Finland is expected to continue to experience growth over the years.
6. Active encouragement
The Finnish government actively encourages its citizens to explore online casinos. He is known for his famous slang “A Finn always wins”. This basically means that even if you lose, the money goes to projects that benefit society.
It has helped the Finns to develop a betting culture that looks like a moral obligation. You will find slot machines everywhere you go; workplaces, cafes, shops and gas stations. This is unique in European countries.
Government involvement in the industry may sound like a bad thing, but it is a double-edged sword that has helped the industry grow.
7. Getting around online
The country launched its first online casino in 1996. Playing with friends joined the industry in 2007. After being licensed, operators began to provide reliable live casino and gaming options.
Being such a rich country, Finland’s mobile technology spreads quickly. Everything is happening online and people have embraced online shopping, online learning and hence online shopping. The possession of modern mobile technologies is increasing and people have now turned to mobile games.
8. External interest
Although the state prohibits foreign suppliers from marketing within its population, it allows access to international networks and sites. Therefore, many foreigners are interested in the Finnish online casino market.
Additionally, Finland has no laws prohibiting its citizens from gambling on foreign sites. The country has a deep culture of personal choice, and this has made things easy for outside investors.
9. The love of the country for the game
Finland has always loved games. It is one of the few countries in the world that has always had a natural love for online games, especially slots and table games. In 2019, for example, the country’s largest regulator recorded 13 million euros in revenue.
The gambling regulator has reported that nearly 50 percent of the adult population is actively involved in gambling. This does not include those who subscribe to foreign casinos.
The work ahead
Although Finland is already doing exceptionally well, it still has a challenge in the future. The biggest challenge for the country is to maintain its grip on profits and progress. It must continue to support the gambling habits of the population to remain competitive.
Online casino providers need to stay ahead of the latest trends and promotions. They need to offer players better bonuses and promotions. As domestic suppliers compete with large international companies, they need to step up their efforts. If they can no longer compete, incomes will decline.
Since the government primarily controls industry, it takes extra effort to keep innovating. There is no indication that the government will change this system. However, this will likely affect neighboring countries.