Iceland is a very small gambling market but that doesn’t mean that online gambling companies can’t make money there. With so few alternatives for online gambling in Iceland, the foreign internet gambling operators are playing a major role in filling the void.
Is Gambling Legal in Iceland?
From the perspective of the players, online gambling is a wide open industry in Iceland. However, the government has entertained a lot of potential changes to how they handle Internet gambling, which would make it illegal for foreign operators to offer their games
Icelanders usually pay for everything by credit or debit card. Payment with cards use the chip-and-pin method. If you don’t have a chip on your card you can sign for the purchase. Most people don’t even carry cash because paying by card is so common. I’ve seriously never even held cash here to this day!
Some forms of gambling are legal here. Lotteries, bingo, sports betting, and slots are allowed provided they are run as non-profit with the proceeds going to charity. Casino games and poker rooms are completely banned but the authorities do not prosecute those who partake in online casino or poker activities.
With so few legal betting options available, there is very little to regulate here. Authorities have the power to arrest, fine, and even imprison those who are found to be involved in illegal gambling activities but it very rarely happens. Players are more or less free to get their gambling fixes with foreign online betting sites without too many worries.
For the time being, players have a large selection of games and sites to choose from. This includes the Icelandic Getspa online lottery site and the Icelandic Sport Web for sports betting. Both of these sites are backed by the government, and this shows that they are open to expanding online gambling on some level.
Gambling is considered illegal in Iceland with the exception of non-profit, for charity gambling. Some forms of gambling are legal here. Lotteries, bingo, sports betting, and slots are allowed provided they are run as non-profit with the proceeds going to charity. Casino games and poker rooms are completely banned but the authorities do not prosecute those who partake in online casino or poker activities. The legal age to participate in legal betting is 18.
Casino table games and poker are completely banned. Therefore, there aren’t any brick-and-mortar casinos operating in the country at the moment. However, it is possible to operate a gambling business if the profits go to charity or other philanthropic causes.
Online Gambling in Iceland
Online gambling is considered illegal as well, but players are not prosecuted for playing at an offshore online casino. 스포츠토토 More on this in the casino gambling in Iceland section below.
Foreign online gambling websites, which are registered in a foreign country outside the EU and have a gambling license from that country are outside of the jurisdiction of Iceland. In many countries offshore online casinos are blocked or are forced to acquire a local license. This is not the case in Iceland currently. Such websites are freely accessible and players playing in such online casinos are not prosecuted.
Currency and Payment Methods
The Icelandic krona is the official currency here and it is accepted at those few places where Icelanders can legally bet. When it comes to making payments to online gambling sites, Icelandic customers usually use credit/debit cards.
It should be remembered that Icelandic law does make online gambling illegal apart from through the state lottery run websites which we have discussed. Many Icelandic residents, however, do use overseas based online bookmakers and gambling providers due to the fact that Icelandic authorities have little jurisdiction over their sites and do not prosecute punters for using them.
Prepaid cards like EntroPay are widely accepted and eWallets such as Skrill, Neteller, and WebMoney can also be used. Bank and wire transfers are accepted at many online gambling sites that cater to Icelandic players. Check your preferred online operator to find out what other options they have.
