Questions re legalities etc

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tom
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Questions re legalities etc

Post by tom » Sun Jun 29, 2003 11:20 pm

hi guys

Some questions,

What is the legal situation with Finland in regards to owning an online gambling site, or a bookmakers (why are there none) .

Second what is the legal situation in relation to becoming a money lender.

Third who do i contact to fund a new business venture?

thanks in advance

Tom Dickenson



Questions re legalities etc

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Hank W.
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Re: Questions re legalities etc

Post by Hank W. » Mon Jun 30, 2003 12:20 am

tom wrote:What is the legal situation with Finland in regards to owning an online gambling site, or a bookmakers (why are there none) .


Criminal code 17. paragraph, 16 § (24.7.1998/563)

tom wrote:Second what is the legal situation in relation to becoming a money lender.


Well, basically there are some companies that do investment and money lending, basically you find them on yellow pages under "pankit". Now a pawn shop is also regulated as an industry, so the guys watching over banks supervise them as well.

tom wrote:Third who do i contact to fund a new business venture?


Well, see above. Now as you are not a woman you can't get a special grant they give for female enterpreneurs, but in some areas they do have grants for starting up businesses. Usually the regional council has some sort of an advisor "yritysneuvoja", but most employment offices have all the same material.
Last edited by Hank W. on Mon Jun 30, 2003 12:26 am, edited 1 time in total.
Cheers, Hank W.
sitting here like a lemon looking for a gin.


Tom and Jerry

Re: Questions re legalities etc

Post by Tom and Jerry » Mon Jun 30, 2003 12:20 am

tom wrote:
Some questions,

What is the legal situation with Finland in regards to owning an online gambling site, or a bookmakers (why are there none) .

Second what is the legal situation in relation to becoming a money lender.

Third who do i contact to fund a new business venture?

Tom Dickenson


Hi,

1. You should contact the guys who live on Ahvenanmaa

2. Easy, look for suksi kuuseen on the internet.

3. Björn Wahlroos


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ajdias
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Re: Questions re legalities etc

Post by ajdias » Mon Jun 30, 2003 12:31 am

tom wrote:Second what is the legal situation in relation to becoming a money lender.

Third who do i contact to fund a new business venture?



You might find support from TE-KESKUS ( http://www.te-keskus.fi ). Try also http://www.tekes.fi if you're going for an internet venture.

For loans you can try your chance with finnvera... and they do have lower interest rates for female enterpreneurs.


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tjawatts
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Post by tjawatts » Mon Jun 30, 2003 11:27 am

The government has a monopoly on gambling (RAY), I think some UK bookmaker was trying to sue the finnish government for restricting trade under the EU. Dont know what has gone on there. I think if you tried to set up a online gambling thing in Finland, you would find yourself kicked out (or in prison!).

Tony


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Sara
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Post by Sara » Mon Jun 30, 2003 11:30 am

ladbrokes from the UK does have an online finnish version for betting.


PeterF
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Post by PeterF » Mon Jun 30, 2003 11:56 am

tjawatts wrote:The government has a monopoly on gambling (RAY),
Tony

When I was venting my anger at having lost again on the Pockerikone in the pub . :x :x ..one of the local tried commiserate by telling me that I was contributing to a good cause in that a large percentage of winning from Pub gambling machines go to fund the running of day care centers for invalides etc..
Is that true :?:


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Sara
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Post by Sara » Mon Jun 30, 2003 12:01 pm

I believe it is Peter :)

its what I keep getting told anyway!


Tom and Jerry

Post by Tom and Jerry » Mon Jun 30, 2003 12:26 pm

Peter Floyd wrote:
tjawatts wrote:The government has a monopoly on gambling (RAY),
Tony

that I was contributing to a good cause in that a large percentage of winning from Pub gambling machines go to fund the running of day care centers for invalides etc..
Is that true :?:



Yes, the RAY is lead by governmental bureaucrats. I don't know the percentage of the turnover that goes to social, sport and other projects.

http://www.ray.fi

RAY on julkisoikeudellinen yhdistys, johon kuuluu 99 sosiaali- ja terveysalalla toimivaa jäsenjärjestöä. Ne ovat edustettuina ylintä toimintavaltaa käyttävässä yhdistyksen kokouksessa.

Hallituksen muodostavat seitsemän valtioneuvoston ja seitsemän yhdistyksen kokouksen valitsemaa edustajaa. RAY:ssä työskentelee noin 1 700 koko- tai osa-aikaista henkilöä.


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Hank W.
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Post by Hank W. » Mon Jun 30, 2003 1:42 pm

Information about RAY

Raha-automaattiyhdistys (Finland’s Slot Machine Association), which is generally referred to as RAY, was established in 1938 to raise funds through gaming operations to support Finnish health and welfare organizations. RAY has an exclusive right in Finland to operate slot machines and casino table games, and to run a casino.
Press release

14.2.2003
RAY’s turnover increased to EUR 562 million

RAY’s turnover grew by 1.6% last year to EUR 562.4 million, the increase in turnover being held back by an increase in lottery duty of 2 percentage points from the previous year. Revenues from RAY’s gaming activities totalled EUR 604.5 million last year, representing growth of 3.8% from the previous year. Overall revenues were also slightly below target, which was mainly due to the euro change-over at the beginning of the year as well as the general economic situation in Finland.

As in previous years, over 80% of turnover was generated by slot machines located in premises operated by RAY’s business partners, while the 49 arcades operated by RAY produced 11.9% of overall revenues. Casino-type games in clubs, pubs and similar premises accounted for 3.3% of turnover and Casino RAY for 3.5%.

Last year RAY paid a total of more than EUR 87.5 million in space rental fees, which are paid to businesses and organizations that have RAY’s slot machines and games on their premises. This is RAY’s biggest expense item and represents more than 15% of RAY’s total expenses.

Last year in Finland a total of EUR 1 846 million was spent on gambling, gaming and betting, which is an increase of around 3.8% from the previous year. RAY’s share of the total revenue remained around one third. The other gaming organizations are Oy Veikkaus Ab and Fintoto Oy. RAY is Finland’s largest gaming organization in terms of operating profit.

In accordance with the proposal prepared by RAY’s Board of Administration, this year EUR 302.8 million will be distributed from RAY’s profits to 1 193 voluntary health and welfare organizations. In addition, EUR 97.75 million will be transferred via the State Treasury for use in the care and rehabilitation of war veterans. The Government approved the funding proposal submitted by RAY’s Board of Administration with slight changes on February 6, 2003. At the end of the financial period RAY had 775 full-time and 889 part-time employees.
Cheers, Hank W.
sitting here like a lemon looking for a gin.


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Hank W.
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Post by Hank W. » Mon Jun 30, 2003 1:52 pm

Veikkaus (lotto and football betting etc.) is a PLC, which is publicly limited so, that the Finnish Government owns 100% of its shares. The profits are divded by the Ministry of Education and it is supervised by the Ministry of the Interior.

"Totalizator wagering is an essential part of trotting industry. The total turnover in tote is over 140 million euros yearly. Along with the pari-mutuel totalizator wagering organized by Fintoto Oy, there are big national pools carried out by the company Oy Veikkaus Ab. The total turnover in Finnish horse betting amounts over 200 million euros.

Horse betting takes full advantage of today’s latest technology. Thanks to rapid communication and satellite links totalizator wagering could be brought off-track to “Totoline”-shops. The number of the off-track betting shops is growing rapidly, currently there are already over 400 of them. It´s also possible to bet on almost every races in Finland through the internet. http://www.fintoto.fi"
Cheers, Hank W.
sitting here like a lemon looking for a gin.


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Hank W.
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Post by Hank W. » Mon Jun 30, 2003 1:53 pm

So in other words, Tom "no dice". To find a bookie you go to an R-kioski or a pub that says 'Toto' on top of the door. Atleast my local R-kioski has a few avid blokes betting on horses.

Funny I haven't seen anyone asking about the legalities of establishing a liquor store... :mrgreen:
Cheers, Hank W.
sitting here like a lemon looking for a gin.


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