Bulgaria has legally permitted online gambling since 2008, and the industry became fully regulated in 2012. Such sites are supposed to be licensed by the Bulgarian National Revenue Agency to offer their services legally. But the best online casinos & bookies you can find are offshore ones.
More specifically, crypto gambling sites in Bulgaria operate in a grey area and are, therefore, free from some of the tighter regulations you’d typically see. This translates to more relaxed KYC policies, generous bonuses & promotions, along with thousands of slots and sports markets. Locals can choose from potentially hundreds of sites, the best of which we feature right here.
Some of the perks of choosing a top crypto-friendly online casino in Bulgaria are that you’ll get access to super-fast withdrawal times, sizeable bonuses, and much better anonymity when betting than you’d expect to see at Bulgarian licensed casinos. You can also access thousands of games from all the major providers.
In a word – yes. It is true that according to Bulgaria’s national gambling laws, only a Bulgarian licensed and regulated operator can cater to players in the EU country. Moreover, those Bulgarian licensed betting sites and casinos aren’t permitted to accept cryptocurrencies. However, these laws only apply to traditional online casinos. It’s a whole different ball game when we’re talking about crypto gambling in Bulgaria.
Cryptocurrency casinos are effectively legal in the country, even if they are unregulated. As they are based offshore, they aren’t required to obtain a license from the National Revenue Agency. Bulgarian crypto regulation extends to the taxation of income generated from cryptocurrency transactions but doesn’t legalise or make illegal gambling with cryptos.
Cryptocurrencies aren’t deemed legal currency, and Bulgaria follows the EU’s laws on digital currencies. Therefore, joining a Bitcoin casino in Bulgaria and betting with cryptos is effectively perfectly fine. As a result, you can find many trusted and reputable crypto-gambling sites for Bulgarian players right here on this page.
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Bulgarian Crypto Gambling Facts
1
Bulgaria follows EU laws on cryptocurrencies; therefore, it is legal to engage in crypto transactions.
2
Cryptocurrency casinos are unregulated in Bulgaria, effectively making it legal for you to play.
3
Gambling online has been legal in Bulgaria since 2008 and regulated since 2012.
4
Bulgaria doesn’t differentiate between sportsbooks, casinos, and other gambling sites. All are legal.
5
You are required to pay taxes on “income” from cryptocurrency transactions in Bulgaria.
Solid Crypto Betting Sites in Bulgaria
If you want to take advantage of near-immediate withdrawal times, larger bonuses than you can claim at conventional betting sites in Bulgaria, and gain access to thousands more sports markets, then crypto sportsbooks in Bulgaria are the way to go. If this tickles your fancy, look no further than our trusted, recommended crypto-betting sites below.
It is preferable not to jump blindly into the first crypto bookie with a large bonus you see. Take a few minutes to read reviews to learn all their ins & outs. Then, start an account at those that look the most promising. Scrutinise their sports section, taking note of the following characteristics.
When assessing the sportsbook, inspect both pre-live and live sections to ensure your preferred markets are available.
Calculate the corresponding odds, bearing in mind that secondary markets often offer lower payouts, so aim for no less than 95%.
Check for betting features such as Cash Out, Live Streaming, Partial/Auto Cash Out, Bet-Builder and Edit-Bet, as these will enhance your experience.
Assuming you’ve been through our list of top crypto gambling sites, what’s next? Unless your chosen site lets you purchase cryptocurrency through them (which isn’t always advised), then you’ll need to pop over to an exchange and purchase Bitcoin, Ethereum or another option using a VISA card or another FIAT payment option. Binance and CoinBase are popular options for this.
Once you’ve bagged your Bitcoins (and naturally obtained a wallet to store them in at the same time), you can sign up to your chosen site using the e-form provided there.
After signing in, use your crypto wallet to process a payment to the site using the address found on the casino or sportsbook’s cashier page. Transactions should be processed near enough instantly and without much in the way of charges.
STEP-BY-STEP PROCESS
STEP-BY-STEP PROCESS
1
Start an account at a crypto exchange. Fund it via debit card, bank transfer or any other local option. Acquire the cryptocurrency that you are going to use as a gambling bankroll.
2
If you are not in a hurry, limit orders hold fewer fees than market orders. Sometimes, it is better to acquire the proprietary coin of the exchange first, as trading pairs with them cost less.
3
Transfer the cryptocurrency amount to your private wallet. Never make direct transactions between crypto exchanges & crypto gambling sites. Crypto exchanges may freeze such accounts.
4
Head over to the gambling site’s cashier section. Click on the relevant crypto method. The wallet’s address will appear. Copy the address and paste it into your wallet’s send function. QR code scans are commonly available too.
5
If a brand does not support crypto-only wallets, watch out for the exchange rate. Any spread above 1% of the current market rate is too much.
6
After a few seconds or minutes, your deposit will settle. This depends on the cryptocurrency and the number of block confirmations required by the operator.
You’ll use a similar process for withdrawals. Speaking of withdrawals, what’s the situation regarding gambling taxes? This is a contentious issue, so let’s explain it all in the next section.
What’s the Crypto Tax in Bulgaria for Gambling
Bulgaria adopts the EU’s framework when it comes to taxes related to cryptocurrency-based income. While the National Revenue Agency does have rules regarding gambling taxes, they only apply to operators, not players. Gambling winnings are, therefore, not taxable in the country. This causes a slight headache for some Bulgarians. Officially, you don’t have to pay anything at all on whatever you win. However, technically, that law only applies to winnings at Bulgarian-licensed sites. Offshore sites – which crypto casinos are – see the authorities treat your winnings as “income”, and the same is true for crypto profits.
Since 2014, the National Revenue Agency has deemed it mandatory for Bulgarian residents to cough up tax on profit made from cryptocurrency transactions. However, at just 10%, it is a lot lower than conventional gambling taxes at licensed casinos in other EU countries. While we would never advise you to avoid paying any tax due, we do recommend that you keep your winnings in your wallet. You’re only legally required to pay tax on them when you make a profit – namely by selling or trading those assets for Fiat currency, in this case, Bulgarian lev.
Will Bulgaria Change Its Gambling Laws Regarding Cryptocurrencies?
There is no indication that Bulgaria has any intention of changing its gambling laws regarding cryptocurrencies. Most lawmakers seem happy and content with the status quo regarding Bitcoin betting in Bulgaria, so we’d imagine the market and industry is relatively stable for the time being. In short, you don’t have to worry about things changing if you want to sign up for crypto casinos and sportsbooks.
How Other Countries Treat Crypto Gambling
Each country presents a unique landscape for gambling, but Bitcoin and other tokens, play a significant role in overcoming restrictions and expanding the possibilities for players, since it sits in a grey area.
Crypto gambling in Turkey serves as the sole alternative for natives due to the long ban on casinos. On the other hand, crypto betting sites in Serbia provide locals with better a better sports product despite the presence of many large bookmakers in the region.
Our Final Verdict on Bulgarian Crypto Gambling Sites
Our Final Verdict on Bulgarian Crypto Gambling Sites
There are absolutely no issues for Bulgarians who want to gamble at crypto gambling sites. The industry may be unregulated, but it isn’t illegal. Moreover, given the benefits already described (anonymity, bigger bonuses, more games, faster transaction times) and the availability of provably fair options, we’re convinced that it is something many players may wish to consider.
Even so, we’d encourage you to only play at the most trusted crypto gambling sites. Each of the domains presented to you on this page has our seal of approval and is worth exploring today.
FAQs
Yes. Internet gambling was first legalised in 2008 and fully regulated in 2012. Crypto gambling is unregulated but not illegal. You can engage in cryptocurrency gambling as you see fit in Bulgaria.
Like most EU countries, Bulgaria hasn’t taken a stance on cryptocurrencies. Therefore, it takes its lead from EU directives. In short, that framework treats cryptocurrencies as financial assets but not currencies, per se, so it is legal.
Yes. Admittedly, crypto gambling falls into a grey zone, given that it isn’t licensed and regulated by the Bulgarian National Revenue Agency, but it certainly isn’t illegal. Therefore, you can gamble with cryptos all you want.
Cryptocurrencies are most frequently bought in exchanges, such as Coinbase and Binance. However, some crypto casinos and gambling sites allow you to buy cryptocurrency through their own services using FIAT options. However, the exchange rate may not be as fair as you’d expect at an exchange.
That depends on where you play. Some casinos feature games which actively allow wagering with cryptos, while some convert crypto deposits into a FIAT option for gameplay. Sometimes, the software providers behind the games may have a hand in this decision.