In Finland, there are state-owned companies that can officially accept bets (online, offline). This:
- Fintoto Oy is a horse racing organization.
- Veikkaus Oy is a national bookmaker (lottery, sports betting, instant win games).
- RAY is an association of slot machines and table games.
Finland has a state monopoly on the gambling business. Online gambling and land-based casinos are allowed in Suomi.
Finnish citizens gamble willingly and there are no taxes on winnings in Finland. According to Finnish laws, winnings from gambling in the European Union or on Internet resources registered in the European Union are not subject to duties.
If no tax is levied on gambling enthusiasts, casino operators are required to pay 8.25% tax on net profits.
The Finnish gambling market is thriving. On average, Finns spend approximately $2.2 billion on gambling per year. The state monopoly extends to online games and traditional gambling options.
At the same time, the government strictly controls the activities of international gambling operators in Finland. International gambling sites cannot advertise their activities in Suomi. However, there is no law according to which Finnish citizens cannot play online on foreign sites.
Some Finns strive to get into casinos in offshore zones, citing the fact that state-owned gambling establishments in Finland are limited in the number and quality of offers.
Tax on winnings in Finland for Russians
If a Russian citizen wins the Finnish lottery, he will need to pay Russian tax on his winnings, which is 13%. There is no tax on lottery winnings in Finland for either Finns or foreigners.
A resident of Russia can buy a Finnish lottery ticket through the website of a licensed lottery agent. If a person plays through an online platform, then the winning amount will be deposited into his account. The best thing about the Finnish lottery is that if you win, the jackpot is paid out as a tax-free lump sum.
There is a state-controlled gambling monopoly in Finland. At the same time, the Finns are so gambling that Finland ranks fifth in the ranking of the most gambling countries. It is known that while gambling is 100% legal and there is no tax on winnings, the rules and conditions of many Finnish games are more complex than in other countries.