State-owned Finnish online gambling monopoly RAY is expected to benefit extensively from the country’s newly elected government. The new coalition promised amendments to Finnish gambling laws which will further restrict any potential competitors to RAY’s gaming monopoly.
RAY is a well-established gaming operator providing both land based and online casinos in Finland. RAY’s management expressed an opinion that the new government could impose a set of highly controversial measures to ensure that RAY remains the sole gambling provider within the country. The new government plans to censor foreign based online casinos in Finland through blocking, restriction on advertising and limiting financial transactions with foreign gambling operators.
The new government has not yet specified how the restrictions will be implemented, yet it expressed its intention to limit the threat-posing competition from foreign gaming companies. In case any restrictions see the light of day, the state-owned RAY could further strengthen its control of the highly lucrative local gaming market.
Tactics proposed by RAY have been already tested in other parts of the word with various levels of success. However they imply the government will have to spend considerable amount of funds on staff and facilities. Among the risks of such restrictions is the threat of legal action by the European Union and other nations.
Online gambling news in Finland learned from a basic textbook on Economic theory that monopolies are rarely beneficial for business in a free market economy. It is not regarded as beneficial for business prospects as it limits innovation, decreases the level of service and increases prices.
This is especially poignant in these times of high speed internet and limitless possibilities, when societies need to open up instead of circling the wagons. Today, gamers search for better offers and promotions at a variety of international gaming sites while Finns play with a broken transistor radio that the monopoly calls a slot machine..
It remains to be seen whether the new Finnish government will be able to carry out restrictive changes to the country’s gambling regulations or if the millions of Finnish poker players will feed them to the hungry polar bears.