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Gambling legislation and regulations in Iceland

Gambling in Iceland is considered to be partly legal. The Icelandic gambling laws, in particular, the Law on Lotteries, No. 38/2005 prohibit casino and card games of any sort, while lotto and bingo games, as well as forms of betting, are considered to be legal. The Penal Code also regulates gambling-related activities.

Casinos are illegal in Iceland, but slot machines are in general distribution. The type of machines available in Iceland, which provide ‘jackpot’ winnings, are not usually in general distribution abroad. They are normally only permitted in casinos and face more stringent regulations than in Iceland.

As we have already mentioned, this country has one of the smallest gambling markets in Europe. This is easily explained by the local laws. Although you can play lotteries and slot machines here, there is no way to find an official casino because they are considered illegal.

There is a matter of fair ambiguity when it comes to official licenses over online ventures. The Financial Services Authority (FSA) is a body that mostly manages the financial front of the country, especially when it comes to numbers. 사설토토 Although the FSA has taken charge and responsibility over various aspects of the countries regulative policies when it comes to revenue, there does not seem to be a distinct demarcation when it comes to fixed policies. What this roughly translates to, is the idea that certain policies are subject to modulation.

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.

Current Gambling Situation

As stated earlier, casino gambling is illegal in Iceland. While some forms of gambling (such as slot machines, bingo, lottery, sports betting, and football pools) are limitedly legal, other forms are completely illegal. Therefore, there are no casinos in Iceland. However, some outlets (such as bars, pubs, and gas stations) do offer slot machines but they are mostly small and very far from what is called a casino.

More progressive legislation is on the table with the future looking bright for online casinos as well. In fact, there is a constantly growing online casino scene in the country, with numerous users looking for the very best when it comes to entertaining and exciting online gambling games, be them slots or casino classics. The popularity of online casinos is bound to bring about some of the biggest names in the industry and the quality games they have on offer.

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