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Iceland Betting Sites

Best Betting Sites in Iceland for October 2021

Author: Frankie Monkhouse

Frankie Monkhouse

Frankie Monkhouse

Frankie Monkhouse is a former professional boxer turned sports betting content writer.

Updated: 15.10.2021

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.

Up to €100 in bet credits

BET HERE Go to Bet365 website Bet365 review

Players from your country

8.0/10

  • Withdrawals: 65 methods / up to 15 min transactions (except for Visa, Mastercard)
  • TOP 5 in industry by betting market variety
  • Live broadcasts over 30,000 matches per month
  • Football Jackpot available
  • Many complaints on the web
  • Airtel
  • AstroPay
  • Bank Wire
  • Bitcoin
  • Ecocard
  • EcoPayz
  • Entropay
  • Euteller
  • Giropay
  • Interac
  • Maestro
  • MasterCard
  • MuchBetter
  • M-Pesa
  • Neosurf
  • Neteller
  • Paysafecard
  • Skrill
  • Sofort
  • Trustly
  • VISA
  • Quickteller
  • Perfect Money
  • Wema Bank
  • Western Union
  • Jeton
  • SticPay
  • ePay

Welcome Bonus up to €122

BET HERE Go to 22bet website 22bet review

Players from your country

7.3/10

  • Fast and easy registration
  • 100% first deposit bonus
  • Higher than average odds
  • Over a 100 different depositing options
  • The provider's reputation is not stellar
  • AstroPay
  • Bank Wire
  • Bitcoin
  • EcoPayz
  • Maestro
  • MasterCard
  • MuchBetter
  • Neteller
  • Paysafecard
  • Skrill
  • VISA
  • Quickteller
  • PayStack
  • FCMB
  • Perfect Money
  • Wema Bank
  • Webmoney
  • Firstmonie
  • Jeton
  • SticPay
  • Rapid Transfer
  • ePay

Deposit bonus up to €100

BET HERE Go to 1xBet website 1xBet review

Players from your country

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.

🌍 Country 

🇮🇸

👌 Language 

Icelandic

💶 Currency 

Icelandic Krona

⚽ Popular sports

⚽️ 🤾‍♀️ ⛳️

⚖️ Is betting legal

❌ (Land-based) No legislation (Online)

🏢 Gaming Regulator 

The Icelandic Financial services authority

🧾 Gambling tax

18%

💳 Most popular payment methods

VISA, Mastercard, Maestro, PayPal

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 pick the best Iceland betting site

When you’re on the lookout for the best betting site to help you with your winnings, look no further, as here we’ll cover some of the top tips to help you find the best one. The strategy we whip up here is backed by experts and is sure to help.

  1. Read up on bookmaking reviews

    Our reviews are here to help. Choc-full of amazing information each, they not only tell you their features but also specify whether they’re available in your location and even bring you the full list of payment methods.

    Man using smartphone
  2. Take the bookies for a test run

    Testing them out first-hand will enable you to get information you otherwise would not obtain through research. This will allow you to see some of the usability you usually wouldn’t through reading.

    Mobile registration
  3. Compare them all

    Once you have a decent list, you can then begin to compare them to each other to see which ones will come out on top.

    Man looking through magnifier
  4. Make your final decision

    Now that you know most of the bookmakers in and out, you can compare them once more in order to get the best. You don’t have to limit yourself to only one, as we believe that playing with more than one will let you enjoy more benefits.

    Man using magnifier

Mobile Betting in Iceland

💯 Available betting features

Accumulator, Bet builder, Live stream, Cashout 

🏇 Popular gambling activities

Sports betting, horse betting, lottery

🗝️ Keep in mind

Land-based gambling like casinos are illegal but online gambling has no specific legislation.

🔣 Popular types of odds

Fractional odds

📈 Advantages

Online gambling seems to have some great book-making choices.

📉 Disadvantages

The 18% Gambling tax.

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

Click any link to the best betting apps in Iceland. We have picked out the leading betting apps available to you today and each is offering new players a welcome bonus when they create an account. Which is the best Iceland betting company? That was once a complicated question but that’s no longer the case.

Top 3 Iceland betting sites

The best betting sites available from Iceland will also have great betting applications, meaning that they will look to hand out the best experience on the go. Here, we list some of the top apps available from this beautiful country.

Bet365 betting app

  • One of the most trusted bookies
  • Live streaming available
  • Good payment options
  • Big sportsbook

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

bet365 mobile version

LVBet betting app

  • Live chat to help users
  • Cashout limits available
  • Big betting market variety
  • Both UK and Malta-approved licenses
LVBet mobile version

22bet betting app

  • Good for eSports
  • Football jackpot on offer
  • Lots of matches broadcasted every single month
  • Great variety of markets within this sportsbook
22bet mobile version

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

Best Icelandic Betting Sites

We’ve uncovered the leading Icelandic betting sites. Simply follow our advice and click any link to your chosen bookie on this page to create an account and grab a free bet. You can then start gambling on all available football and sports.

You can bet on Icelandic football or the top European leagues. There’s English Premier League, Champions League, World Cup and everything in between. As a member of the top betting apps you will have access to all markets and matches. 

Icelandic football betting is big business so it’s time you signed for a winning team.

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

Betsson offers sports betting in Iceland

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

Bet365 is a great choice for betting in Iceland

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

Frankie Monkhouse

Frankie Monkhouse is a former professional boxer turned sports betting content writer.

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