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Iceland Betting Sites

Best Betting Sites in Iceland for July 2021

This Nordic island may be the most sparsely populated country in Europe, but don’t underestimate the popularity and rapid growth of online betting sites in Iceland. With offline gambling being illegal (besides “for-charity gambling” regulated by a state-owned institution), many of the slightly over 300,000 inhabitants turn to international online sports betting. 

Online gambling is technically illegal, but players cannot be prosecuted due to a Court of Justice ruling in 2016. Secure, reliable, and fun online options have been climbing in demand ever since. This all makes for an interesting gambling environment that we will be navigating through in this article.

Best betting sites in Iceland

List of betting sites in Iceland

Found: 3 bookmakers

8.8/10

  • Live streaming service
  • User-friendly mobile app for iOS and Android
  • Good customer support around the clock
  • We trust this sportsbook
  • Many restricted countries

Open an account with bet365 today and bet on a huge range of markets with the world’s favourite online sports betting company.

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Iceland sports betting – the ultimate guide

Are you searching for the best sports betting site available to gamblers in Iceland? We’re glad to announce you’re on the right path. Our team of sports betting professionals has all the information you need. We have researched the leading brands, compared the odds and promotions then published our findings. 
There are many Icelandic and overseas bookmakers available to register with today. They all may look quite similar and promote themselves as offering the best welcome bonus but some are better than others. Some are more generous than others and some have more sports markets to bet on than others. Read on as we cover all bases, from bookies to the history of betting in Iceland.

History of Sports Betting in Iceland

History of Sports Betting in Iceland

In the early 1900s, Iceland outlawed gambling entirely unless the Ministry of Justice gave specific permission. The ruling included foreign lotteries in an attempt to keep money circulating internally.

In 1933, the first form of legal betting in Iceland took place. The University of Iceland devised it’s lottery, with the condition that 80% of profits went back to the university as a charity donation. 

Despite it being mostly successful and receiving positive feedback with lots of participation, gambling in Iceland lapsed back into its routine of not existing. It wasn’t until 1972 when a loophole was exploited to allow pools based sports betting lotteries. Shortly after that, a local lotto was established in 1986, and the government legalized select slots in 1994.

  1. Handball, football, ice hockey, and even weight lifting make up the most popular of sports betting Iceland markets.
  2. Players are not taxed on their online winnings.
  3. Roughly three-quarter of the adult population take part in some form of gambling.
  4. The remarkable performance of the Icelandic football team in Euro 2016 was an essential factor in the rise of online betting.

Online betting has emerged and continued to grow in popularity since. Many wondered what would be the legality regarding this modern method of gambling. There was initially an attempt to restrict gambling on foreign websites.

The situation remained the same until 2016, when the Court of Justice ruled Icelanders cannot be prosecuted for gambling online with international providers. Since then, there has been growth in the country’s use of these websites, with sports betting being prevalent. 

FAQ

? Can I Go to Jail for Online Betting in Iceland?

No. While it’s illegal, you cannot be prosecuted for it and can safely go ahead with your online bets.

? Will Gambling Be Made Legal in Iceland?

It’s likely. Some legislatures mentioned reviewing the current legality surrounding online gambling, but there are terrific international options until then.

? Do Websites Have Icelandic Currency?

Yes. There are a few that do, namely Bet365 and Betsson.

? Do I Keep All the Money I Make Betting Online?

Iceland doesn’t charge any tax on your online winnings.

? What Is the Most Popular Form of Betting in Iceland?

Most Icelandic gambling is sports-oriented, but there’s a demand for quality slots as well.

How to bet on ice hockey in Iceland?

  1. Login to your sports betting account

    On the homepage of the website, you’ll see the login button. Click this, then add your username and password.

    Betsson website
  2. Click the Ice Hockey tab

    From the list of sports available, choose Ice Hockey. The list will usually be in alphabetical order.

    Betsson hockey tab
  3. Select the competition and match

    Browse the different competitions and choose the one that appeals. Then click the match you want to bet on.

    Betsson hockey matches
  4. Pick the market and place your bet

    Select the market you want to bet on. Click the odds to add it to your bet slip. Apply your stake and check the potential winnings. Click to confirm the bet.

    Betsson placing bet

Mobile Betting in Iceland

With 80% of Icelanders owning a smartphone and over 70% engaging in gambling, it’s no surprise how dominant mobile betting is. The top three used platforms in Iceland all sport their own dedicated mobile apps.

  1. Bet365, with the most considerable following, has coverage of Icelandic football and handball leagues. It also allows Icelanders to bet in Króna, avoiding any unnecessary fees. 
  2. The second most used platform is Swedish Betsson, taking it a step further by having a web-page specifically optimized for Icelandic use and allowing you to gamble with Icelandic currency.
  3. The third is Coolbet, also featuring Icelandic football leagues and a mobile app. While lacking some of the localization of the other two options, it still sees enough traffic to be the third most visited gambling website in Iceland.

There are many more fantastic websites available with generous welcome offers. However, these three show the highest amount of internet traffic from the island nation. 

While not having as much traffic as previously mentioned platforms, 22Bet and LVBET are also great options as they have mobile apps and allow Icelanders. 22Bet also accepts local currency.

  1. 1

    Up to €100 in bet credits

  2. 2
  3. 3

    Welcome Bonus up to €122

  4. 4

Best betting apps in Iceland

There are many legal betting sites in Iceland offering generous odds on your favourite sports. But which is the best app to register with, and which site gives new customers the most generous welcome bonus? Our team of sports betting experts are here to explain all. We’ve researched the market in great detail and are ready to offer you our professional finds and advice.

By the end of this article, you’ll know the Iceland betting company that works best for you. You can open an account with one site by clicking their link on this page or create an online betting account with a few different bookmakers. The more sites you bet with, the more welcome bonus free bets you’ll receive. 
When betting on sports like football, you’ll also increase your chances of getting the market-best price on your picks. This is because you’ll be able to quickly compare the offers of the leading sites and go with the most generous. 

The registration process takes just a few minutes to complete and you only need to do this once with each bookie. In future, simply login using your username and password, deposit funds and bet on upcoming games, races and fights.
 

Online betting in Iceland

Online betting in Iceland is legal, and you can gamble using either a domestic bookmaker or an international one. To place a bet on sports in Iceland, you must be registered for an account with a legal bookie. Each site advertised on this page is licensed to trade in Iceland and offers customers a fair and transparent service.
Some of the sports available to those betting online in Iceland include:

  1. Football
  2. Horse Racing
  3. Tennis
  4. Greyhounds
  5. Boxing

Some of the most popular betting markets in Iceland are:

  • Match winner
  • Both teams to score
  • Set betting
  • Handicap
  • Half time/full time
     

Top 5 Iceland Bookmakers With the Greatest Bonuses

The sign-up bonus is a significant attraction factor in choosing a bookmaker for anyone, which remains the case for Icelanders.

While technically, there are no Icelandic bookmakers or platforms because of the law, international providers bring the bonuses home to make up for it. The five to mention are LVBET, NordicBet, Betsson, 22Bet, and 1xBet.

LVBET, NordicBet, Betsson, 1xBet, and 22Bet all offer an enticing welcome offer, matching 100% of your deposit but have different limits on that offer.

The best one is 1xBet, offering €130. 22Bet is second-place, giving new players €122. Betsson comes in next with keeping up the offer until €100 while LVBET and NordicBet both cap out at €50.

Bet365 is an honourable mention for its sheer existing popularity in Iceland but comes in with only up to $30 in Bet Credits, surprisingly lower than its competitors.

Despite Bet365 having the most play currently, it doesn’t have the best welcome offer for Icelandic players. 1xBet is worth a look at and may just become the next big name in Iceland.

Top 5 bookmakers with the best bonuses for Iceland

Sports Betting Online

Betsson is a sports betting bookmaker with a good industry reputation. They attract customers from around the world, including significant regions of Europe. Betsson now accepts customers from Iceland and is ready to offer you their unique service. Register an account and grab your welcome bonus.

Betsson website

These are the three most-used bookmakers in Iceland. 

Only these three platforms show significant traffic from Iceland, but that’s bound to change as more and more bookmakers are welcoming Icelandic gamblers.

Best Legal Bookmakers in Iceland

  • Betsson - 100% up to €100
  • Coolbet - 100% up to €50
  • Bet365

The world’s favourite online sports betting company

Up to €100 in bet credits

It’s the most played bookmaker in Iceland; this is in no small part thanks to an excellent mobile app and the ability to switch to Icelandic Króna.

Open an account with bet365 today and bet on a huge range of markets with the world’s favourite online sports betting company.

There are plenty of payment options to complement the wide availability of sports betting companies in Iceland.

These range from the newer-age providers that use e wallets and other forms of virtual money, alongside traditional bank transfers and debit cards.

Bettors in Iceland can deposit funds to their betting account and withdraw winnings with the click of a button. Deposits are instant, allowing you to add funds and gamble without delay. Below are examples of some of the payment options available along with the top picks for convenience and reliability:

Bookmaker VISA MasterCard PayPal Skrill
Bet365 5 ISK / 20000 ISK 5 ISK / 20000 ISK 5 ISK / 5500 ISK 5 ISK / 5500 ISK
William Hill 5 ISK / 20000 ISK 5 ISK / 20000 ISK 5 ISK / 5500 ISK 5 ISK / 5500 ISK
Bwin 5 ISK / 20000 ISK 5 ISK / 20000 ISK 5 ISK / 5500 ISK 5 ISK / 5500 ISK
  • Neteller - A fast and secure e-wallet service largely accepted

    more
  • Skrill - A virtual wallet that makes managing money simple

    more
  • Visa/MasterCard - A traditional payment method that still holds its own in the modern world

    more
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Review Author

Frankie Monkhouse

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