Norwegian Bookmakers vs International Betting Sites
Norway’s economy is one of the largest globally, thus the nation’s population has more money to spend on non-essential basic needs. Gambling is a favorite hobby among Norwegians no matter if it involves poker, horse racing, or soccer games. Nevertheless, this passion for sports gambling and card playing as well as other events does not appear to be mutual for the government, which has imposed several strict laws in order to restrict gambling activities by its citizens.
The reasons behind these restrictions are to stop possible social problems that might arise due to excessive gambling, as well as protect the state’s betting sites. As prohibitive as they may sound, it is common knowledge that Norwegians circumvent the laws and gamble on other sports platforms they like most of the times.
Norsk Tipping is the place to go for those who want to try their hands on sports betting, lotteries and other similar games. For horse racing lovers Norsk Rikstoto, which happens to be a state-run bookmaker that covers Norway’s horse racing, provides the proper legal boundaries.
Most Norwegian bettors however prefer to place their bets on European betting sites because of the better odds it offers, bonuses, technology plus customer service, and a wider range to select from.
Depositing at Online Betting Sites in Norway
Despite the fact that the government of Norway has commanded banks to deny bank transfers and card payments for gambling purposes, these transactions still happen at many of our recommended sites.
Gamblers in Norway are spoilt for choice when it comes to depositing money into their betting accounts, there are several other common payment methods you will find listed in the cashier such as:
- Skrill
- NETELLER
- EcoPayz
- Bitcoin
- Entropay
- Paysafecard
Are Sports Betting Winnings Taxed in Norway?
The current state of affairs is that Norwegian nationals are not taxed on their gambling proceeds, as long as these were obtained through Norsk Tipping or Norsk Rikstoto. There is no tax on winnings obtained locally; however, players must reveal gains exceeding 100,000 NOK (over £9000). Why should governments be making people to keep a record of their winnings? Perhaps governments would like to know the extent to which the population is gambling and how much they are making from it.
Foreign winnings are not exempted from taxes as is the case with some domestic betting.
Nevertheless, the tax situation is a dilemma for people who gamble on sports or play games online since, in principle, it is against the law; therefore, declaring their profits would amount to an admission of guilt. Quite bizarre! Anyway, any winnings above 10,000 NOK will be charged at 24%, which constitutes a heavy charge.
What Does the Future Hold for Norwegian Bettors?
Norwegian authorities always desired to control the level of gambling taking place amongst its people. Despite relatively recently putting new legislation and regulations into effect, it seems to be a lost cause as the number of online bookies is increasing at an alarming rate, which would even be hard for authorities to contain by blocking IP addresses for good.
It is foreseeable that Norwegians will still be able to bet with their preferred bookmaker, but the winners might opt to calculate their income for tax purposes and let the government know about it.
Is online betting legal in Norway? As of now, only Norsk Tipping and Norsk Rikstoto offer betting services to the Norwegians. However, a lot of gamblers in Norway choose offshore sportsbooks due to their higher starting rewards and more favorable odds on various types of games.
How can I deposit at Norwegian betting sites? In spite of directives from the Norwegian government to banks, most sports betting sites in Norway accept these payments. E-wallets (Skrill and NETELLER) and prepaid cards like paysafecard are also common methods of payment.
Can I get a free bet at Norwegian bookmakers? Certainly! Norsk Tipping, for instance, offers a free bet to its newly registered customers which gives you an opportunity to have a feel of their software and make your first bet without making a deposit. There are websites where you can get offer back if you loose your initial stake.
Q.How old do you have to be to gamble in Norway? A.It is however specified by the gambling laws in this country that those placing real money bets at Norsk Tipping, including scratch tickets, must be older than eighteen. Nonetheless it is forbidden to gamble on sports below 18 years of age.