Online gambling has been legal in Czechia since 2012, and while traditional internet casinos require a gambling license from the Ministry of Finance to operate, Bitcoin gambling in the Czech Republic remains unregulated.
As a result, the industry is free from the local stringent regulations. Players enjoy anonymity, instant withdrawals, better overall odds and the ability to avoid the 15% tax on profits completely. There’s more to it than that, though, so keep reading as we dive deeper into Czech crypto gaming sites.
Just because crypto casinos aren’t nationally regulated doesn’t make them unsafe. All of our best crypto casinos in the Czech Republic are licensed abroad, and support large bonuses up to 5 BTC, instant withdrawals, thousands of slots, excellent anonymity, offer provably fair games and more. We’ve listed the most trusted brands below.
A 2012 amendment to the Law on Lotteries, alongside further Gambling Act amendments in 2016, effectively legalised and regulated the Czech online gambling industry. Casino and sportsbook operators must snap up licenses from the Ministry of Finance, and all manner of hoops must be jumped through to operate legally in the EU country, including you having to clear a face-to-face KYC process.
Of course, the nightmares surrounding face-to-face identity verification mean that the general anonymity provided by sites offering Bitcoin gambling in the Czech Republic makes them a rather appealing alternative. Czech crypto regulation is far less stringent, and this allows you more freedom when you gamble.
Crypto gambling isn’t just less invasive; the country’s finance ministry and national bank have declared Bitcoin legal without issuing restrictive Czech crypto regulation. While it isn’t yet recognised as a currency or legal tender, Bitcoin is regarded as a tradable commodity in Czechia. This means that while local casinos can touch it, you are free to deposit, wager and withdraw with Bitcoin at offshore casinos.
Naturally, given Bitcoin’s legal status in Czechia, this has led to us selecting the very best crypto-gambling sites available for you. We’ve included only the most trusted sites, all of which are legal and above board in the Czech Republic.
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Czech Crypto Gambling Facts
1
Bitcoin is traded as a commodity in Czechia, so while it isn’t permitted at local casinos, you can gamble with it freely at non-Czech licensed casinos.
2
The Czech Republic first legalised online gambling in 2012.
3
Virtually all major forms of online gambling are legal in the Czech Republic.
4
You are free to join international Bitcoin casinos without punishment in Czechia.
5
Cryptocurrency transactions are subject to an income tax on profits.
Legit Crypto Betting Sites in the Czech Republic
While the Czech Republic does support locally licensed sportsbooks, these are often heavily regulated. Bitcoin sites generally support a broader array of markets and selections, naturally provide better privacy, and allow for faster withdrawal times. Furthermore, Czech crypto betting domains offer more profitable bonuses (thanks to looser restrictions). Feel free to explore our list of top-rated sports betting sites below.
You don’t necessarily have to purchase cryptocurrencies from exchanges to play online. Many top and established crypto sports betting sites often allow you to purchase cryptos directly through them using conventional FIAT options, including VISA and MasterCard. Of course, this service (and any transaction fees) varies from crypto site to site.
Having found one of our trusted crypto gambling sites to play at, you’ll now need to deposit. Before that, you’ll want to acquire cryptocurrency. Admittedly, while some sportsbooks and casinos permit you to buy crypto from them directly (see above), in most cases, you’ll want to head to an exchange. This is standard fare and gives you more flexibility in terms of which cryptocurrencies you want to buy.
Binance is arguably the most popular exchange in Czechia, followed closely by Kraken, eToro, Coinbase, and Bitpanda. The basic process you’ll follow is this: opening a crypto wallet, visiting an exchange, purchasing BTC or another cryptocurrency, and then transferring it to your wallet. Some exchanges also host wallets.
From there, you merely need to deposit at your favourite crypto casino or sportsbook. You’ll use the key/address of the gambling site’s wallet to make a deposit. The entire process isn’t too dissimilar to using a conventional e-wallet, so if you’ve done this before, you’ll know what to expect. Transactions take 1-15 minutes in most cases.
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.
As touched on, the Czech Republic does consider cryptocurrencies to be a taxable commodity if you make a profit from them. So, let’s explore what sort of taxes you’re looking at next.
What’s the Gambling Tax for Cryptos in Czechia?
The Czech Republic has a straightforward take on crypto transactions. If you make a profit via cryptocurrency trading (such as withdrawing more than you deposited at a crypto casino), then you’re liable to pay an income tax rate of 15% on that profit. Fortunately, crypto transactions aren’t subject to VAT.
According to Act No. 187/2016 (Gambling Tax), winnings from raffles and lottery games are taxed at 15% and withheld in Czech licensed casinos. However, winnings from all games of chance represent a 15% income tax, too (since 2020), with winning stakes deductible as expenses. Obviously, cryptocurrency gambling sites won’t withhold taxes as they are often based offshore, so you’ll need to declare whatever you win yourself.
Anonymous Gambling
Of course, if you choose to keep cryptocurrency inside your wallet, then you won’t feel as though you’re required to declare anything, as you’re keeping a separate gambling bankroll and not withdrawing any profit.
The law doesn’t differentiate between crypto and locally licensed gambling winnings; therefore, there’s little wiggle room to get out of this. According to Czech legislation, this is done to make cryptocurrencies more transparent and to stop you from using anonymity to dodge taxes.
Can You Gamble With Crypto In Other Countries?
Although gambling restrictions are common in European countries, cryptocurrencies have revolutionized the industry. For instance, crypto casinos in Germany allow high rollers to surpass the government-imposed $1,000 limit legally.
Similar to the Chezch Republic, crypto gambling sites in Austria offer a wider range of brands, elevating the gaming experience beyond the subpar state-run options found elsewhere. These examples demonstrate how cryptocurrencies have truly transformed the gambling landscape, providing enhanced opportunities and circumventing limitations.
Cryptocurrency gambling is a fully viable and legal option for you. The Czech Republic’s gambling laws neither prohibit nor regulate Bitcoin gambling, meaning it operates in a legal grey zone. The same is true for most EU countries. When you consider the added perks of cryptocurrency gambling, it is little wonder that the industry is so appealing.
Now that you know about the epic bonuses, general anonymity, ample fair play certification and faster transaction times, it is worth exploring some of the top and recommended crypto betting sites in the Czech Republic, as we are sure you won’t be disappointed.
FAQs
Yes. Online gambling has been legal and fully regulated since 2012. Crypto gambling operates in a legal grey zone and is unregulated by the country’s gambling authorities.
Absolutely. The Czech Republic considers Bitcoin a tradable asset and commodity and not legal tender or a currency, but it is perfectly legal.
The answer, of course, depends on where you choose to play. However, you’ll find no shortage of top, safe places to wager on sports with cryptocurrencies right here.
You should do. While some may try to fly under the radar with the general anonymity that Bitcoin provides, you are supposed to pay 15% in income tax on any profit you make.
Yes. Coinbase accepts Czech residents, and you can use that exchange to buy and trade over 250 cryptocurrencies.
Crypto gambling sites are legal, so you shouldn’t really need to, even for anonymity. However, each cryptocurrency casino and sportsbook will have its own rules regarding the use of VPNs.