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Best Betting Sites in Iceland

Best Betting Sites in Iceland

Author: Steven D. Thompson

Updated: 20/12/2024 11:20 AM

Enjoy top-notch gambling experiences at the best betting sites in Iceland. Even though the country's current law prohibits most forms of gambling, players can still explore online betting sites and enjoy competitive odds at some of the best sports betting sites. Many international sports betting sites provide online sports betting access to players in the country. You can join these foreign online sports betting sites to start your next gambling adventure.

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The Best Betting Sites in Iceland 2024

New Bonus

Rating:

10/10

Excellent

Welcome offer 100% up to $500

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Pros

The sign-up offer gives you bonus funds on your first three deposits.
Wide range of bonuses for existing customers.
Many pre-match betting markets to choose from.

Cons

You can make only one withdrawal request in seven days.
No mobile betting app.
No live streaming.

Odds Margin: 93%

Extra Features: Casino, Tournaments, VIP Programme

Payment Methods: American Express, Bitcoin, ecoPayz, Litecoin, MasterCard, Paysafecard, Visa

18+ | Gamble responsibly | GambleAware.org | T&C’s apply

Trusted

Rating:

7/10

Splendid

Sports Welcome Bonus 125% up to $2,000

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Pros

The loyalty program gives enticing rewards to regular bettors.
Cryptocurrency transactions offer various perks.
24/7 phone, email, and live chat support.

Cons

Small withdrawal fee.
No live streaming.
There could be more betting markets.

Odds Margin: 95%

Extra Features: Bonuses, Tournaments, Cash Out Func., Live Streaming, Odds Boost, VIP Programme

Payment Methods: American Express, Bank Transfer, Bitcoin, Ethereum, Litecoin, MasterCard, Visa

18+ | Gamble responsibly | GambleAware.org | T&C’s apply

Popular

Rating:

6.63/10

Splendid

AllWin Deposit Bonus 50 USDT

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Pros

Crypto-friendly sportsbook
Fast withdrawals
No payment fees

Cons

No phone support

Odds Margin: 93%

Extra Features: Bonuses, Casino, Mobile App, VIP Programme

Payment Methods: Binance Pay, Bitcoin, Dash, Dogecoin, Ethereum, Litecoin, Ripple, Stellar, Sticpay, Tether

18+ | Gamble responsibly | GambleAware.org | T&C’s apply

Great Deal

Rating:

6.5/10

Splendid

Welcome offer 100% up to $100

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Pros

Easy to navigate
Cryptocurrencies supported
High maximum cashout

Cons

No mobile application
Promo offers could be better

Odds Margin: 92%

Extra Features: Bonuses, Tournaments, Casino, Cash Out Func., VIP Programme

Payment Methods: Bitcoin, Dash, Dogecoin, Ethereum, Litecoin, MasterCard, Monero, Ripple, Solana, Tether, Visa

18+ | Gamble responsibly | GambleAware.org | T&C’s apply

Popular

Rating:

6.4/10

Splendid

Sports Welcome Bonus 50% up to $250 Free Bet + 100 FS

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Pros

Instant deposits and withdrawals with cryptocurrencies
Different types of sports betting bonuses
Betting markets for the most popular sports

Cons

Payment method restrictions
Player restrictions in some countries
Withdrawal charges

Odds Margin: 92%

Extra Features: Bonuses, Casino, Live Streaming, Tournaments, VIP Programme

Payment Methods: American Express, Bank Transfer, Bitcoin, Dash, Dogecoin, Ethereum, Litecoin, MasterCard, Person to Person, Ripple, Solana, Tether, Visa

18+ | Gamble responsibly | GambleAware.org | T&C’s apply

Table of Contents

Sports Betting Regulation in Iceland

The government in Iceland has maintained a strong stance against the legalisation of Iceland betting sites and other forms of online gambling. Since 1926, most forms of gambling in the country have been technically illegal, prohibiting the establishment of gambling sites. However, non-profit gambling establishments aren't considered illegal, but no licenses have been issued to allow full operations of Iceland online betting sites.

Despite being considered illegal, bettors can still try their luck on offshore online bookmakers from the age of 18. This allows you to engage in different activities and increases your potential of claiming multiple gambling winnings without worrying about breaking the law. This is possible because of the 2016 EU Court of Justice ruling and the fact that the government isn't interested in blocking international operators.

For Icelandic punters, exploring offshore betting sites is common practice. Most of these platforms are licenced by reputable bodies, such as the United Kingdom Gambling Commission and the Malta Gaming Authority. Additionally, mobile betting dominates the Icelandic market. Online sportsbooks catering to Icelandic bettors prioritise mobile compatibility.

Future Projection

State-own lottery and fixed odds betting sites are active in Iceland, but they don't offer players a variety of options, especially for players who want to explore different online gambling activities. Land-based gambling, slot machines, and betting online also run in the country despite the current law. Even without a structured or regulated gambling market, betting is popular in the country. Many punters turn their attention to international sites. Given the potential revenue left unchecked, we might see changes in the gambling laws soon. We believe there are parties in the government that will look to push for gambling legislation to ensure a more controlled market by Icelandic authorities.

Key Facts & Stats About Betting in Iceland

Annual Growth Rate: Despite Iceland not having a structured gambling market, the industry has recorded a remarkable year-on-year growth rate. Statista estimated that the industry might see a growth rate of 7.41% between 2024 and 2029.
Industry Growth: Since Iceland doesn't have a regulated online betting market, it is difficult to quantify the industry’s growth over the years. However, some reports speculate on a constant growth rate.
Betting Frequency: Although there are no concrete reports on the country's betting frequency, it is speculated that the country has more casual bettors, who might make up as much as 75% of the total betting population.
Purpose of Betting: Like in many parts of the world, most Icelandic bettors are presumed to bet for entertainment purposes rather than business.
Popular Sports: Football is the most popular sport in Iceland. It is followed by Basketball, Handball, and Winter Sports.

How to Pick the Best Icelandic Bookmaker

With Iceland's laws making most gambling forms illegal, finding best Iceland betting sites can be tedious. Outside of pools based sports lotteries and some legal lotteries that you might find in the country, you'll need to look outside the shores of Iceland to find online bookies. When you want to do this, there are a few things you should keep in mind. Consider these factors so you can pick the best bookmakers.

Step 1

Safety and Licence

When shopping for gambling brands, you must evaluate the security and safety measures put in place to know if the site is worth trying. You don't want to join a platform where your details won't be safe from third parties or scammers. Take the time to check out if the site is secure before joining. Then, you should examine the platform's licence to know if it has passed evaluations to show that it can be trusted and is fair. Ensure the site you're picking has a licence from any of the top widely accepted gambling authorities before proceeding.

Step 2

Market Coverage and Betting Opportunities

Check out the site's betting options to learn what market you can bet on once you join. Look at the different sporting events the site covers to know if they are in line with your preferences. For instance, if you're a football fan, you want to join a site that lets you bet on various major leagues and football matches. Check out the different betting markets you can also place bets on to know which gambling operations and betting opportunities you'll enjoy once you complete the registration process and start playing for real money.

Step 3

Bonus Offers and Promotions

Many top betting platforms offer generous welcome bonus packages to newbies and other exciting promotions to active players as they continue using the platform. So, if you want to enjoy your gambling journey, you might want to check out the bonus page to know what offers to expect and if they include bet credits that will help increase your winning chances as you explore online betting in Iceland. You should also check the site's bonus terms and conditions to be sure the wagering requirements and conditions aren't too stringent and won't be a problem once you claim the offer and start using it to place bets on games.

Step 4

Online Reputation and Customer Service

You should also consider the site's online reputation. Evaluate as many player reviews as possible to know if the site is worthwhile and would give players an incredible gambling experience. Aside from the reviews, you should also check the site's customer service and support team to know if you'll have access to support whenever there is an issue. It also helps to confirm if the support teams and channels are easily accessible and effective so issues won't stop you from enjoying your betting experience.

Free Bets & Betting Offers in Iceland

Betting Sites	Free Bets/Betting Offers
Megapari	100% bonus up to €100
Duelbits	100% up to €100 Free Bet
22Bet	100% up to €100

How We Compare and Rank Betting Sites in Iceland

When comparing and ranking Iceland betting sites, we prioritise various factors to ensure players have a safe and rewarding experience. From examining security measures to evaluating welcome offers and promotions, our goal is to provide comprehensive insights into the best options available.

Licence / Security

Whenever we want to compare and rank betting sites, we usually check for security measures to ensure players will be safe joining the platform. We look for encryption techniques and evaluate the security system before proceeding. With that, we can tell if the site is safe to join. Also, we look at the site's licence to ensure players won't be joining a site that isn't regulated. Since Iceland doesn't have a sports betting licencing authority, bettors have to look outside for gambling opportunities.

Welcome Offer

Bonuses are a big part of the online gambling market. It is rare to find a betting site that doesn't offer a certain offer. Most betting platforms offer welcome bonuses to attract new players to join their platforms. So, once you complete the account registration process, you'll automatically be eligible to claim a welcome offer. As a result, we evaluate the site's welcome bonus details to know what players need to do to claim the bonus. We also take it further by checking the bonus terms and conditions.

Promotions & Free Bets

In addition to the welcome offer, we check if the site has other promotions players can claim. We rank sites with more quality promotions. So, when you check our list, you can rest assured that our recommended options have top-notch promotions you can claim as an active player on the platform. We check for free bets, cashback, reload, and other bonuses. So, be sure to check out our list if you want to have access to an incredible betting experience filled with exciting bonuses and promotional offers.

Odds & Value

The odds offered by the betting site are also essential to our ranking system. We want to ensure that players are getting value for their investment. So, if they are lucky enough to make a winning prediction, they will get a substantial return. In that case, we compare odds and rank the ones with more competitive odds higher than others. So, you can rest assured that when you start playing, you'll enjoy top-notch odds that will improve your potential to win a bigger payout. The odds and value the site offers play a big role in our evaluations and ranking system.

Top Icelandic Betting Sites By Category

Highlight of the Site	Betting Sites
Best for Crypto Betting Site	BC.Game
Best for Mobile Bookmaker	1xBet
Top Iceland Bookmaker for Welcome Bonus	MyStake

Popular Payment Methods for Icelandic Betting Sites

You need a suitable payment method if you want to place bets at Iceland betting sites. Fortunately, most of the top gambling platforms provide players with access to top-notch payment options that allow them to complete transactions without hassle. These options can vary from one site to another, but there are a few common types you'll find on most betting platforms. We've highlighted a few below.

Cryptocurrencies

Iceland is one of the many countries that have embraced cryptocurrencies and is one of the most ideal countries for the industry. Undoubtedly, cryptocurrencies provide an excellent gambling opportunity to players, allowing you to complete transactions instantly and for free at betting sites. Once you understand how it works, you won't have issues using it to complete the transactions you want. All you need to do is find a suitable betting site or foreign that allows you to use the option and provides you with multiple crypto payment methods to choose from.Below are some of the most popular options to consider.

Bitcoin
Tether
Tron
Ethereum
Solana
Dogecoin

There are other options you can consider, depending on the platform you decide to join. Some betting sites even offer special cryptocurrency bonuses that allow you to play with extra money or free spins once you complete transactions using the option.

Bank-Based Methods

Even without the betting legal status, players who access foreign lotteries and sports betting platforms can use bank-based payment methods. If you're looking for a convenient way that doesn't require you to create a third-party account, you might want to consider these options. They provide players with excellent options that allow them to explore different exciting gambling experiences. With bank-based methods, you can easily deposit using your bank account. You won't have to worry about third parties because these options use bank-level security.

Some popular types of bank-based methods include the following:

Bank Transfers
Trustly
Mastercard
Visa
Maestro

Pick a betting site that supports your preferred bank-based method and complete transactions easily. You can start your journey of placing bets on Icelandic football and other sporting tournaments once you complete the deposit process. However, you should keep in mind that when you use these methods, you most likely won't be able to use them as your preferred withdrawal method. So, you'll need to consider another payment method for withdrawals when the time comes.

E-Wallets

Using e-wallet options is also convenient for Icelandic punters. These payment methods provide perfect services for bettors who don't want to deal with the volatility of cryptocurrencies or want to use their banks directly. With e-wallets, all you need to do is completing the registration process and fund your wallet. Once your wallet is funded, you can easily get started with depositing using your e-wallet service provider. The good thing is that deposits are instant with e-wallets. Another exciting part is that you can withdraw money easily when you use these payment methods. Below are a few top-notch options you can consider at various online betting platforms.

Skrill
NETELLER
PayPal
EcoPayz
Revolut
Rapid Transfer

Most Popular Sports to Bet on in Iceland

Sports betting in Iceland offers a dynamic range of options for enthusiasts. Football dominates the scene, followed by the growing popularity of handball and basketball. With a fervent passion for sports ingrained in Icelandic culture, betting on these beloved pastimes adds an extra layer of excitement and engagement.

Football (Soccer): Football is the most popular sport in Iceland. Many punters place bets on Icelandic football leagues and other international competitions. It is speculated that football accounts for about 80% of the total market activity.
Handball: Handball is another popular sport to bet on in Iceland, although it is not as popular as football. The popularity of handball continues to grow, and we expect to see it gain more attention.
Basketball: This sport is more popular among the younger demographics with betting on the NBA becoming more popular. Basketball is also growing locally, with many local leagues and stars gaining more attention.

Best Icelandic Betting Sites for Sports

Betting Site	Sports
Velobet	Best for Basketball
20Bet	Best for Football
CryptoLeo	Best for Handball

Most Trusted Betting Sites in Iceland

Iceland might not have an official gambling market, but online betting is quite popular among people in the country. Most bettors focus on offshore platforms and pick from some of the best international sports betting sites. You can join this large community of bettors to enjoy the excitement that comes with playing online. The only problem is that you'll have to find a top-notch site if you want the best experience. But don't worry; we've got you covered. Our experts have reviewed and picked some of the most trusted betting sites in Iceland. You can check the table below to select one from the list and start your next betting adventure today!

Betting Sites	License
Sportuna	Curacao
Greatwin	Curacao
Freshbet	Curacao

Conclusion

The current Icelandic laws don't allow for proper regulations on gambling or provide a structure for these activities. However, gambling is popular in the country. Bettors find offshore betting platforms to join so they can place bets on Iceland football and other sports. With betting popular in the country, we now have many top-notch international betting sites that offer Icelandic bettors gambling opportunities, making it easy for players to get started. All you need to do is find the right brand to join. To reduce the stress of searching for top-notch sites to pick, you can check out Betpack's top Iceland betting sites list. Pick one and start your betting journey.

Frequently Asked Questions

What Are the Most Popular Sports to Bet on in Iceland?

Football is the most popular sport to bet on in Iceland. Handball, Basketball, and Winter Sports are also popular in the country.

Are There Any Taxes for Icelandic Bettors on Betting Winnings?

Since Iceland doesn't have any legal framework regarding sports betting, betting winnings are technically tax-free. However, these winnings can be taxed as direct or indirect income.

Are There Any Betting Restrictions in Iceland Betting Sites?

Technically, betting is not legal in Iceland. However, players can play on offshore gambling platforms.

Which Sports Can I Bet on in Iceland?

You can bet on football, handball, winter sports, basketball, and many other popular sports.

Is Sports Betting Legal in Iceland?

According to the current laws, sports betting is not legal in Iceland. However, locals can bet online without worrying about penalties.