Kasinohai has published a comprehensive study analyzing 50 online casinos that cater to Finnish players, revealing a concerning trend: advertised wagering requirements often fail to accurately portray the total stakes players are obligated to place. Conducted from June 15 to June 30, 2026, this study involved researchers creating accounts, depositing actual funds, and claiming various welcome bonuses while documenting the terms as they appeared during the claiming process.
This information comes in light of Finland's transition from the current Veikkaus monopoly to a new licensing framework that is set to begin on July 1, 2027. According to the Gambling Act (Rahapelilaki 10/2026), bonuses targeted at new customers are no longer permitted in licensed operations. The Ministry of the Interior disseminated draft decrees relating to online game features and stake limits on June 10, 2026, currently open for public consultation until August 5, 2026.
Jari Vähänen, Co-Founder and Partner at The Finnish Gambling Consultants, expressed concerns about these new restrictions during a conversation with iGaming Expert on July 6, 2026. He remarked, "It is particularly problematic for digital casino operations that affiliate marketing and welcome bonuses are prohibited."
The study uncovered two significant structural issues that inflated the total stakes required beyond what was advertised. Notably, 22 of the 50 casinos—about 44%—calculated wagering requirements based on the combined value of the deposit and the bonus instead of the bonus alone. For instance, a 100-euro deposit matched with a 100-euro bonus at a nominal 30x requirement escalated the total stakes from 3,000 euros to a daunting 6,000 euros. Moreover, 15 casinos (30%) failed to clarify which calculation base was being used in the terms provided at the time of claiming.
Adding to the complexity, welcome packages that were segmented across multiple deposits—each with its own wagering requirement—further compounded the stakes, turning offers initially advertised at 20x or 30x into effective requirements of 40x or higher once fully utilized.
Across the surveyed casinos, the stated wagering requirements varied significantly: 12 casinos (24%) offered requirements at 15x or lower, 19 casinos (38%) set their requirements between 20x and 35x, while another 19 (38%) placed them at 40x or above.
The report also highlighted issues related to the disclosure of terms. Notably, 22 casinos (44%) did not mention any maximum bet limits in the bonus conditions at the point of claiming. When limits were specified, they typically hovered around 5 euros per spin. Kasinohai identified exceeding this maximum as a frequent reason for bonuses and their associated winnings to be rendered void.
Of the casinos evaluated, 58% imposed caps on bonus winnings, with the lowest cap recorded being under 100 euros. Furthermore, 74% of the casinos restricted which games contributed toward wagering, with live casino games being entirely excluded in about a third of the cases. Additionally, 16% did not implement any time limitations for completing wagering requirements.
There was noticeable variation among the gathered data, with approximately a quarter of the casinos offering wagering requirements deemed favorable to players, and a select few applying the requirement solely to the bonus amount.
This research was conducted by Mimmi Malmström, Laura Korhonen, and Lilli Partanen, focusing on casinos listed on Kasinohai's platform rather than a random sample. The selected casinos hold licenses from regions such as Curaçao, Malta, Anjouan, and Estonia, with many unlikely to seek a Finnish license.
Kasinohai has previously viewed wagering requirements between 20x to 35x as reasonable, consistent with market trends, and this evaluation is currently under review. Vähänen anticipates further legislation to follow, contingent on market behavior. He noted, "If the channelization rate remains lower than expected and the number of problems does not increase, then I expect relaxations, at least affiliates and possibly welcome bonuses, in the legislation." This analysis of how bonus terms operated prior to the reform will be crucial in shaping future decisions.
A comprehensive overview of the findings, dataset, and methods used in this study is available in Kasinohai's June 2026 bonus terms report.
