What Can the Finnish iGaming Industry Teach Us?

iGaming

iGaming

Finland was recently ranked among the happiest states in the world. This ranking is done each year by the World Happiness Report. The report is typically a survey of the state of global happiness and ranks 156 counties based on how happy the residents perceive themselves to be. To arrive at the final ranking, the report assesses several factors that impact the overall quality of life.

While Finland has a lot of good things going on, the focus of this page is the digital entertainment sectors, notably the iGaming industry. If you’re in need of gaming options, check out these top online casinos in Finland by Pay N Play. Meanwhile, below are lessons the world can learn from Finland’s casino sector.

 

A Backstory of the Finnish Gaming Industry

The Finnish iGaming Industry is among the fastest-growing in the global market. Finland boasts several great releases designed by elite developers over the past decade. One of the reasons why Finland has ascended to become a prominent player in the iGaming world is the fact that they were among the first countries to pioneer in exploring mobile gaming.

Following the launch of the App Store in 2008, Finland got a head start over most of its competitors. Since then, the country has found numerous ways to capitalize on the opportunity. The world began taking notice of Finland in 2009 after Rovio’s release of Angry Birds, a successful video game that has subsequently created an entire Franchise.

The Finnish gaming industry has been growing from strength to strength over the years. Online gaming and gambling are the new hot trends in Finland currently.

 

The Value of Online Casino Gaming

While Finland is a small country with a population of about 5.4 million people, it is considered a casino gaming powerhouse. There are over 30 thousand iGaming companies operating in Finland today. As competition stiffens, operators have found novel ways to offer their services at competitive prices.

The Finnish gambling industry generated circa €1.6 billion in gross revenue in 2020, a drop from €2 billion collected in 2016. According to a recent forecast by H2 Gambling Capital, the country’s iGaming revenue might surpass the €2 billion revenue record by the end of 2022.

In contrast to the overall European iGaming market, the offshore online gambling niche shows the strongest growth, with a CADR rate of 21%. The offshore online wagering market is estimated to account for about 20% of the total market at €393 million.

Gaming generates about 58% of the total revenues, both online and retail. 24% of the iGaming revenue in Finland is generated by online betting operations.

 

The Value of Competition

Finland is a free market when it comes to online gaming and gambling. As more operators enter the market, iGaming prices keep getting more competitive by the day. Players are always on the lookout for profitable deals.

The Finnish online casino market offers some of the lowest house advantages globally. This essentially means that players have better chances of winning big when playing at Finnish online casinos. This renders the casino sites more attractive to new players.

Finland’s online casinos are also known to offer among the highest betting limits. Punters from around the world flock to Finnish online casinos just to enjoy the high roller experience. Competition has played a significant role in driving the Finnish iGaming market. Competition means high-quality products and services.

 

The Appeal of an Adaptable Market

The Global iGaming audience is gradually easing away from PC to mobile devices. While taking notice of this, industry players in the Finnish market have invested heavily to adapt to the new trends. Finland has always been leading in the mobile gaming front.

In 2021, mobile casino gaming increased by 10%. Finn punters remain adaptable in both offline and online markets. The government has also taken initiative to relax online gambling laws and regulations.

Being a forward-thinking country, Finns support the idea that people are at the liberty to make independent decisions. The freedom to make liberal choices, together with the fact that Finns love to try out new things, have helped expand the iGaming market in the country.

 

The Power of Technology

Being one of the European technology leaders, Finland enjoys a great deal of exceptional technological advantages. Over 5.5% of local residents are active participants in the iGaming industry.

Considering that the iGaming industry is heavily reliant on technology and innovations, Finland has everything it takes to have a sustainable and profitable online gambling market. Mobile gaming is particularly big in the country.

Access to a stable internet connection has also contributed to the market’s growth over the past few years. With the ongoing, 5G rollout, players will have better access to online casino sites, sportsbooks, and esports streaming platforms.

 

The Need for Security and Privacy Assurance

The Finnish government is committed to ensuring that the online gambling market is safe for consumers. This typically means that all operators must undergo a thorough application process and pass strict regulatory tests before launching business in Finland.

The Finnish Gambling Authority is the state agency tasked with ensuring compliance by all iGaming operators within the country’s borders. FGA also performs annual inspections to guarantee compliance.

These policies help reassure punters that their online gaming and gambling experiences are safe and secure, free of any concerns.

 

The Value of Multiple Options

The number of brick-and-mortar casino establishments in Finland is limited. All land-based casinos in the country are managed under one state monopoly. This means that there is a limit to the number of retail operators.

While that might sound like an issue of concern, on the contrary, it helps drive the online betting market. It is not surprising that more and more players are choosing to turn to online casinos. Online casinos are not limited like is the case with land-based operators.

Therefore, there are numerous online casinos in the country, which helps spice up competition in the market. Subsequently, players enjoy a great variety of options when it comes to online casino gaming. Overseas operators have flooded the Finnish online casino market, all looking to invest in the business-friendly country.

The economy is great and the government is iGaming-friendly, making Finland a market worth investing in.

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