Iceland

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Iceland

Salutations to the last word when it comes to online betting in Iceland. In this connection, on this page there is access to data concerning the legality of gambling in Iceland; a list of top Icelandic bookmakers; tips on how to choose the right deposit and withdrawal options; statistics on mobile betting popularity in Iceland among other issues.

Best Betting Sites in Iceland

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Flag of Iceland

Iceland technically does not allow online gambling, but it seems that the government is uninterested in stopping the international operators.

In summary, what this means is that gamblers in Iceland can use the world’s top gambling websites or bookmakers, register and place wagers on their preferred games without having issues. There are numerous sports betting platforms in Iceland where you can get free bets and attractive odds.

Iceland does not have a licensing framework. However, international operators are licensed elsewhere by regulatory bodies like the UK Gambling Commission (UKGC) and Malta Gaming Authority (MGA). As such, you can trust them to be fair, responsible gambling supporters (you must be over 18 years old), and maintain their customers through topnotch support.

For those who may decide to engage in gambling on Iceland, there is good news in that winnings do not attract any tax and as such all the money you earn from it is yours wholly.

Being able to visit many overseas sites in Icelandic means you need not trust in the state-run lottery and fixed-odds gambling site, which do not have as much variety as others.

The Popularity of Mobile Betting in Iceland

Betting is loved by sports fans in Iceland. Betting on sports activities from all over the world is enjoyed by about 70% of adults in the country. As a result, for most people (80%) who own smartphones, it is imperative to find mobile-friendly betting sites.

SBO.net recommends the finest sites that facilitate mobile betting. Long ago, any bookie’s website could only be accessed through a separate application on a handset. Some of them still have this option as it is a rapid way to place bets. Immediately after the betting app has been downloaded and installed in your Smartphone, just one tap will connect you to the most current markets and odds available for you.

Recent years have seen a rapid improvement in mobile technology. HTML5 technology is used to develop the top sports betting sites in Iceland. Do not concern yourself with the nitty gritty details. It only means that if you are an iPhone user,  you can log into your account and bet on your favorite games through your mobile browser like Safari.

Wooden gavel and flag of Iceland

Safe Payment Methods for Icelandic Bettors

Iceland’s internet betting is a simple matter of transferring funds to your account. These websites will introduce users to several payment methods which comprise credit cards and electronic purses. Deposits are done instantly in most cases to avoid missing any betting opportunities.

Here are four of the most famous deposit methods that betting sites in Iceland accept:

Debit/Credit Cards

Many sites that offer sports betting accept credit and debit cards. The most popular brands are Mastercard and Visa. Making your deposit is very similar to any other purchase you make online. Just key in your card information and the amount of money you want to deposit.

Your account will be credited with the money immediately such that your expenditure is easy to control as the funds are obtained directly from your bank.

PayPal

In Iceland, PayPal is extensively employed and almost all major sports bookmakers accept it. If you have a PayPal account and are interested in using this online payment service for gambling purposes, you should definitely join one of our recommended PayPal betting sites.

Go to the cashier and then tap on the PayPal logo, decide on your desired deposit amount, and within a short period of time there will be an automatic change to PayPal where you will have to confirm the transaction after which you will be taken back to the betting site where your funds are already in place.

Skrill

There is also another famous online wallet called Skrill, which works in the same way as PayPal does. Let me show you my experience with this platform that I have been using for some time. Just select Skrill from the cashier and proceed to the check-out page. There are no fees for using a Skrill account; however, there are charges for sending funds to other people’s accounts or withdrawing money back into your bank account. One more thing is that all deposits made through a credit or debit card attract a fee of 1.9% of the total amount deposited. And finally, as soon as the transaction is completed, you will find your account credited within seconds.

Moneybookers was a brand created in the year 2001 that catered exclusively to online gamblers. Skrill, however, emerged as its new name.

Direct Bank Transfer

Certain banks and a number of online sports gambling enterprises will receive direct bank transfers as a means of payment. Fortunately, numerous banks in Iceland, for example Kaupthing Bank and Landsbankinn, are rated highly for their online banking services hence facilitating convenient deposits through direct bank transfers.

The process is as immediate as the one when you send money to your friends or purchase goods online.

Iceland fans in stadium

The Most Popular Sports for Betting in Iceland

It is important to note that just because Iceland has a relatively small population of only about 360,000 people does not mean the country is not competitive in sports. With such cold weather, it is understandable that many would think Icelanders are not good at outdoor games save for skiing and ice-skating.

Nevertheless, Icelanders do love to observe, participate in and place wagers on all varieties of games. Meanwhile, Athletes and national sport teams have often been seen to compete at a sporting level with countries that are 10 to 200 times their sizes.

Football

Top leagues in Europe such as the Premier League in England or La Liga in Spain have a huge following among Icelanders who love football. Almost all their best players play elsewhere. Amongst the topmost famous sportsmen of his country was Eidur Gudjohnsen, one of soccer player who played for some strongest teams such as Chelsea and Barcelona.

The Úrvalsdeild karla, which is the country’s top male football league may not be as competitive compared to many other leagues worldwide.

Iceland, in the 2016 European Championships’ quarter-finals lost to France after defeating England previously. Can you remember the tournament when Iceland football fans passionately sung the Viking Thunderclap?

Handball

One of the best handball teams in the world is Iceland’s. They won a silver medal at the 2008 Beijing Olympics and a bronze one at the 2010 European Championships. The domestic premier league is competed by twelve teams.

Watching sport is something that Icelanders enjoy, and good gambling platforms for global players have lots of markets for handball fixtures from different countries.

The most suitable wagering websites in Iceland stream live matches of the best quality, therefore allowing you to bet while things are happening. It is good in case you want to get handball odds which are quite competitive to sign up for a number of sites in order to compare markets.

Basketball

Basketball is not only popular in the US and some Eastern European nations, but it also dominates Iceland’s sporting scene. It is not only popular in America and parts of the East Europe – basketball is also a big part of the sporting landscape there in Iceland. Not just within the United States and few Eastern European countries- you would be surprised to find that even Iceland considers basketball as an important part of its sporting culture. Basketball is not just popular in the US and some Eastern European countries; it has become deeply woven into Iceland’s sports fabric.

The leading Icelandic basketball league for men, also called Úrvalsdeild Karla, is fought fiercely by twelve teams. In addition to that, there are four tiers of leagues. The men’s national team has made it to the EuroBasket (European Basketball Championship) twice but never made it to the FIBA World Championships.

Basketball enthusiasts in Iceland will be pleased to find that online gambling websites offer comprehensive coverage of the game with bets offered on matches from all over the world such as NBA.

Athletics

Track and field have always been their number one when it comes to sports because of the love for athletics among Icelanders. This has made people become more interested in betting on athletic events as a result of country’s record.

The country’s first big winners were Gunnar Huseby, a shot putter who gained gold medals at the European Athletics Championships in 1946 and 1950. The decathlon and long jump also produced successful athletes. Vilhjalmur Einarsson was an Olympic and European triple jump medallist, while in 2000 Summer Olympics Vala Flosadottir won a medal in pole vaulting.

Iceland also participated in all but one of the winter Olympics with exception to those held in 1972. However, despite much ice and snow, Icelanders have not yet won any medal during Winter Olympics.

The History of Gambling in Iceland

Iceland has always been a gambling country, where over 70% of adults admit to betting on a regular basis. Lotteries, sports betting and bingo are the most popular forms of gambling in Iceland.

Similar to many other nations, gambling laws are derived from historical, antiquated practices and have no bearing on the dynamic and flexible internet-based betting that is taking place today.

Following is a timeline showing how gambling laws have changed in Iceland from 1926 until now:

1926 – Lotteries and Tombola Act

In Iceland, the first gambling legislation prohibited all betting without permission from the Ministry of Justice. However, this permission was seldom granted.

1933 – University of Iceland’s Lottery

At present, it might seem strange but the university lottery was the inaugural gambling activity legalized. The only condition was that 80% of profit had to be channeled back into the university.

1972 – Expansion of Legal Lotteries

It was after 40 years that the Government again decided to review gambling and this time around allowed pools-based sports lotteries. This was the initial kind of sport betting in Iceland.

1986 – First State Lottery

In 2009, the general national lottery started and now it has grown into a state-owned online sports betting, lotto and bingo platform that we have today.

1994 – Green Light for Slot Machines

The first slot machines were to be allowed, but only if the proceeds would go to charity. It was the initial attempt at land-based gambling since casinos and bookies were still illegal.

2004 – Foreign Lotteries

Iceland had violated trade rules by blocking foreign gaming companies from operating there; this decision was opposed by legislators. To comply with the ruling they were allowed to sell tickets provided all the money went towards local charitable causes.

2016 – Updated Criminal Code

In 1940, Iceland’s Criminal Code was enacted, but the new articles183 and 184 outlaw the act of being a professional gambler or bookmaker.

That’s where we’re at. It is impossible for you to be a professional gambler in Iceland but there is no direct clause which forbids you from betting on international gambling websites. Besides, who would know if you were a professional gambler since there are no taxes on winnings?

FAQ

What is the best betting site in Iceland?

To find a place that suits you best, see our Icelandic online gambling guide. We only suggest sites that are reliable and have good bonuses, competitive odds and many payment options.

Which online bookmakers accept Icelandic króna?

Icelandic króna can be used to make a deposit on some of the most reliable online betting platforms. One of the gambling sites we suggest can be selected and registered with today for securing your account, as well as allowing you place bets using domestic currency.

Do you pay tax on gambling winnings in Iceland?

Iceland does not tax winnings from gambling. Any amount you win is free of taxes and you can spend at your discretion.

Q.Can I go to jail for betting online in Iceland?

A. No. Even though online gambling is prohibited in Iceland, the government does not enforce a law which would stop its citizens from betting with international sports books. People are not sued for this following the European Court of Justice (EuCJ) resolution of 2016, hence you can gamble on your beloved matches without any fear.

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