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Finnish Online Casinos Gambling Monopoly

The Finnish government actually seems to be seriously circling the idea of passing legislation that would form an online casinos gambling monopoly in the country. The question of running state monopolies is coming under fire in the EU right now, but at the same time, Finland is also actively look for an implementable solution to effectively blocking and banning all online casino and poker gambling activities. A complete ban is nearly unenforceable because of all of the ways that gamblers can circumvent those restrictions. But a monopoly on the other hand is actually quite effective in forcing a majority of the gamblers through the state-run online casino monopoly. This is where it seems from recent reports that Finland is headed.

Finland is no stranger to monopolies in other areas of the gambling and betting industry, in fact two companies hold monopolies in the nation – Veikkaus runs the state lottery and betting while the RAY Slot Machine Association holds the monopoly for land slots. If online casinos gambling, betting, or poker were legalized for a monopoly in Finland one of these two existing monopolies would likely win the right to administer the gambling site.

According to a research study submitted to the Finnish government earlier this year, the nation’s citizens are losing Euro 50 million each year to foreign online casinos gambling companies. A state-run monopoly would allow the Finnish government to not only benefit from the revenue that amount of gambled money generates, but would also allow for strict protocols in terms of underage and problem gamblers. Suomen Lehtiyhtymä, a Finnish newspaper group recently quoted Ilkka Juva. Juva notes, "We could gather the majority of the revenue flowing out. Certainly not all of it, but two thirds of Euro 50 million could be attainable.” That two thirds represents lot of possible money going right into the governments coffers and back into social programs within the country.