As one of the most innovative and business-friendly nations in Europe, Estonia could not be without a vibrant iGaming scene. Online gambling sites have been regulated since 2010 and there are plenty of locally licensed options.
Still, they do not offer the plethora of options and products that A-list crypto gambling sites in Estonia do. Furthermore, the sky-high privacy level and instantaneous withdrawals will make your gambling sessions as smooth as it gets. Below you can find everything you need to know about crypto online casinos in Estonia, along with key information you don’t want to miss.
There are perks to choosing to play at Estonian Bitcoin gambling sites over nationally licensed ones using the euro. For starters, these sites support immediate unlimited withdrawals and a much larger array of RNG-certified & Provably Fair games than their traditional counterparts. They also offer immense crypto bonuses, so you can start off in full power. Here are some of the best BTC gambling sites out there.
Online gambling is legal in Estonia, assuming the site has acquired a license from the Estonian Tax and Customs Board (ETCB). However, gambling with cryptocurrencies on offshore brands falls into a legal grey zone. It is unregulated but not illegal, giving locals a broad array of gambling options to choose from.
Cryptocurrencies used to be scorned by the Estonian Central Bank, which called them nothing short of a Ponzi scheme. That stance has changed. Since 2017, cryptocurrencies have been accepted as “value in digital form”, although they aren’t considered legal tender. Therefore, only offshore crypto betting sites can accept deposits made using BTC and not locally licensed sites.
There are some parts of the Estonian crypto regulation worth noting here. While cryptocurrencies aren’t regulated per se, any service used for exchanging Fiat currencies into cryptocurrencies (via whatever means), including providers of virtual wallet services, is subject to the country’s anti-money laundering legislation. The FIU (Financial Intelligence Unit) started issuing licenses for crypto companies, which included some mild forms of regulation and governance to prevent money laundering schemes and operations.
It is worth noting that these regulations seemingly only apply to businesses involved in crypto transactions and services, not Estonians themselves. Therefore, they don’t apply to offshore crypto gambling sites not licensed and registered in the Baltic country.
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Estonian Crypto Gambling Facts
1
Offshore businesses can apply for an Estonian gambling license.
2
Estonian licensed casinos aren’t permitted to accept cryptocurrencies – at least, not yet.
3
Estonia has anti-money laundering measures in place, which provides mild regulation of cryptocurrency-based businesses.
4
Coinmetro (one of the biggest EU license exchanges) is based in Estonia’s capital, Tallinn.
5
Crypto gambling is legal (within a grey zone) in Estonia by visiting offshore sites.
Solid Estonian Crypto Betting Sites
If you are bored with the regular local options for sports betting, it’s time to move on to the next level. We have filtered for you the best crypto bookies that accept bettors from Estonia. Apart from the instantaneous withdrawals and anonymity that come with cryptos, you will find hundreds more markets and promotions compared to what you are used to. All this without risk, as all of our featured brands are fully tested.
Estonia is notable for being one of the first countries in the world to issue cryptocurrency licenses. These ensure crypto companies do not engage in money laundering under the Law on Preventing Money Laundering and Financing of Terrorism. In exchange for being mildly regulated, the license offers low tax rates for crypto businesses in profit.
This crypto license system doesn’t apply to offshore casinos and sites offering crypto sports betting in Estonia. Due to the country’s progressive business environment, this could soon change.
To begin crypto gambling at online casinos, you’ll need a wallet and, ideally, somewhere to purchase cryptocurrencies. Many Estonians choose to use Coinmetro for both. It has obtained a license and is based in Tallinn. The exchange is ideal for beginners and pros alike and is a specialised platform for the trade and exchange of cryptocurrencies. Major coins offered there include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple. Dirt-cheap fees are another reason to consider this option, as many Estonians do.
Once you’re signed up (and have a wallet), you can use Euro or alternative cryptocurrencies to buy (and sell) cryptos at Coinmetro or any other major exchange like Binance or Coinbase. Of course, after purchasing crypto, you can then head to one of our recommended crypto gambling sites and sign up.
Depositing at a crypto betting site is no different from depositing via e-wallets at ETCB-licensed sites. Make a note of the casino’s wallet address/key and process the payment using your Coinmetro wallet or alternative wallet provider to deposit into your account.
Remember that if you want to claim a sizeable crypto welcome bonus, you may be required to enter a bonus code into the box provided (on the cashier page at the site) when depositing. Furthermore, your deposit must meet the minimum deposit limit to claim such an offer, as dictated by the bonus’ terms and conditions.
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.
Being a somewhat regulated market, it won’t surprise you to learn that there are crypto taxes to consider. We’ll introduce everything you need to know about those in the next section.
Estonian Crypto Tax for Gambling
First, let’s look at the situation surrounding gambling taxes in Estonia. While every operator is responsible for their fair share, you don’t have to pay tax on any winnings acquired from Estonian licensed sites. But since you’re playing at offshore casinos and sportsbooks with cryptocurrencies, the situation is different and we need to look at crypto taxes.
Technically, crypto tax in Estonia (for private individuals) is linked to income and profit. If you make a profit on trading cryptocurrencies, you are required to declare that as income/gains. However, if you were to keep your cryptos inside a wallet (and not exchange them), then they are not liable for income tax. At least, not yet. It is perfectly legal to hang on to your cryptos and not declare them as you haven’t made a profit until you exchange them.
Estonia is still working through its rules regarding the taxation of winnings at “offshore gambling sites”, as technically, you are supposed to be playing at them. Therefore, for the time being, Estonians shouldn’t need to declare anything they win at foreign crypto sites.
Is Crypto Gambling Big In Other Countries?
In a nutshell, yes. Just because there are many licensed sites in a region doesn’t mean that players don’t look for better and more lucrative ways to enhance their game. Crypto online casinos in Latvia are a prime example of that. Despite the availability of brands, gamblers, especially high rollers, prefer them for effectively dodging the unfair tax on winnings.
On the flipside, crypto gambling sites in Lithuania are essential for locals, when the number of licensed brands in the region can be counted on one hand. The grey area cryptocurrencies fall under provides a sense of security that can’t be matched.
Estonia is one of Europe’s fastest-growing countries for technology and software, specifically related to the internet and cryptocurrencies. It is also one of the few notable countries with practices in place to protect crypto users and businesses from fraud.
Throw in these security features alongside the relatively easy access to offshore crypto casinos, and Estonia is clearly an excellent place to wager with cryptocurrencies online. The upgrade you will receive for your gambling sessions will be noticeable from the get go.
FAQs
You are perfectly entitled to play at offshore crypto casinos that accept players from Estonia, as these unregulated sites operate in a fully legal grey zone. Make sure to check our recommendations.
We wouldn’t presume to tell you which site is better than another. However, we will say that we can personally vouch and guarantee that all the Bitcoin gambling sites featured on this page have been certified by us as fair and trustworthy.
Crypto casinos will generally offer you a larger array of games than nationally licensed sites, provide bigger, more flexible bonuses with less restrictive t&c’s, a touch of anonymity, and play host to almost instantaneous transaction times – even for withdrawals.
Not at all. Coinmetro is ideal because it is user-friendly, even for beginners, and is crypto licensed out of Estonia. However, there are many other exchanges and options you can consider if you want, including all the mainstream options.
No. However, there is talk of Estonia exploring the ins and outs of taxing nationals who play at offshore gambling sites. Whether this extends to crypto sportsbooks and casinos (if any sites at all) remains to be seen.