Lake Väsman stretches northwest from Ludvika, a long, forest-fringed body of water that gives the town its lakeside aspect. There are several public swimming spots along the eastern shore, fishing for pike and perch, and a couple of small boat hires in summer. In winter it freezes solid enough for skating, with marked tracks on the ice.
The lake is part of the chain of waterways that powered Bergslagen's old iron industry; the timber for the charcoal was rafted along these lakes for centuries. Today the shoreline is mostly empty, with a few summer cabins tucked into the trees. A loop drive of about 30 km goes right around the lake.