Crypto Online Casinos in Iceland

Crypto Online Casinos in Iceland

Crypto Online Casinos in Iceland

Iceland has a small but potent gambling scene. The state, however, has a monopoly in place. An outright ban on all forms of gambling, including online casinos is active. However, players from Iceland can use foreign bookmakers without fearing prosecution based on the current legislation.

Nevertheless, cryptocurrencies are the optimal way to reach offshore brands. Borders do not matter and monitoring your transactions is extremely hard. What’s more, you enjoy the full list of games from renowned providers, hefty bonuses, and improved odds compared to the local options. However, it all begins with finding the best Crypto online casinos in Iceland, and this review will help you out.

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Solid Icelandic Bitcoin casinos

Online gambling is prevalent in Iceland, and hundreds of sites accept players from the country. However, not all of these platforms are reputable. To help you get started, our team has filtered the current best Bitcoin Casinos in Iceland. Keep in mind that the list is constantly refreshed depending on new developments.

Casino
Rating
Min Deposit
Rollover
Bonus Code
% Percentage
Amount
#1
BC.Game Bonus
4.3/5
star star star star star
Deposit Bonus
$30
special-rules
Special Rules
Exclusive Offer
NO CODE
120% Bonus Up To$20,000
#2
Vave Bonus
4.4/5
star star star star star
Cashback
$20
B x 40
NO CODE
100% Bonus Up To1 BTC
#3
BetPanda Bonus
4.3/5
star star star star star
Deposit Bonus
$10
x80
NO CODE
100% Bonus Up To1 BTC
#4
Betswap Bonus
4.3/5
star star star star star
Deposit Bonus
10 USDT
Bx50
NO CODE
100% Bonus Up To500 USDT
#5
Coins.Game Bonus
4.2/5
star star star star star
Deposit Bonus
$10
N/A
NO CODE
180% Bonus Up To$20,000
#6
Cryptoleo Bonus
4.2/5
star star star star star
-
x50
NO CODE
100% Bonus Up To2,500 USDT
#7
Duelbits Bonus
4.2/5
star star star star star
Rakeback
$10
special-rules
Special Rules
Exclusive Offer
NO CODE
Bonus Up To10% Rakeback +500FS
#8
Coinplay Bonus
4.2/5
star star star star star
Deposit Bonus
20 USDT
x40
NO CODE
100% Bonus Up To5,000 USDT
#9
Jackbit Bonus
4.1/5
star star star star star
Deposit Bonus
€50
x1
WELCOME
copy-icon
Bonus Up To100 FS
#10
22bet Bonus
4.2/5
star star star star star
Deposit Bonus
€1
B x 50
Exclusive Offer
CRYPTOTV
copy-icon
100% Bonus Up To€300
#11
Stake Bonus
4.4/5
star star star star star
Rakeback
$1
special-rules
Special Rules
Exclusive Offer
CRYPTOTV
copy-icon
Bonus Up To10% Rakeback
#12
Gamdom Bonus
4.0/5
star star star star star
Rakeback
$1
special-rules
Special Rules
NO CODE
Bonus Up To15% Rakeback
#13
Sportsbet.io Bonus
4.1/5
star star star star star
Daily Rewards
$1
special-rules
Special Rules
NO CODE
Bonus Up ToDaily Rewards
#14
1xbet Bonus
4.2/5
star star star star star
Deposit Bonus
$10
x35
NO CODE
100% Bonus Up To$1,500
#15
Mystake Bonus
4.2/5
star star star star star
Deposit Bonus
$20
x30
NO CODE
170% Bonus Up To$1,000
#16
Goldenbet Bonus
4.1/5
star star star star star
Deposit Bonus
$20
x35 in Slots
NO CODE
100% Bonus Up To$500
#17
FortuneJack Bonus
4.0/5
star star star star star
Deposit Bonus
BTC 0.001
Bonus x30
NO CODE
110% Bonus Up ToBTC 1.5
Bookmaker
Rating
Min odds
Min Deposit
Rollover
Bonus Code
% Percentage
Amount
#1
BC.Game Bonus
4.3/5
star star star star star
Deposit Bonus
-
$30
special-rules
Special Rules
Exclusive Offer
NO CODE
120% Bonus Up To$20,000
#2
Vave Bonus
4.4/5
star star star star star
Cashback
2.00
$20
B X 5 (Doubles)
NO CODE
100% Bonus Up To1 BTC
#3
BetPanda Bonus
4.3/5
star star star star star
Deposit Bonus
-
$10
x80
NO CODE
100% Bonus Up To1 BTC
#4
Betswap Bonus
4.3/5
star star star star star
Deposit Bonus
Not Available for Sports
10 USDT
Bx50
NO CODE
100% Bonus Up To500 USDT
#5
Coins.Game Bonus
4.2/5
star star star star star
Deposit Bonus
N/A
$10
N/A
NO CODE
180% Bonus Up To$20,000
#6
Cryptoleo Bonus
4.2/5
star star star star star
Deposit Bonus
-
-
x50
-
copy-icon
100% Bonus Up To2,500 USDT
#7
Duelbits Bonus
4.2/5
star star star star star
Freebet
1.50
$10
B X 5
NO CODE
100% Bonus Up To$100
#8
Coinplay Bonus
4.2/5
star star star star star
Deposit Bonus
1.60
20 USDT
x40
NO CODE
100% Bonus Up To5,000 USDT
#9
Jackbit Bonus
4.1/5
star star star star star
Freebet
1.30/selection (trebles)
€20
special-rules
Special Rules
NO CODE
100% Bonus Up To€100
#10
22bet Bonus
4.2/5
star star star star star
Deposit Bonus
1.40/selection (Trebles)
€1
Β x 5
Exclusive Offer
NO CODE
100% Bonus Up To€122
#11
Stake Bonus
4.4/5
star star star star star
Rakeback
-
$1
special-rules
Special Rules
Exclusive Offer
NO CODE
Bonus Up To10% Rakeback
#12
Gamdom Bonus
4.0/5
star star star star star
Rakeback
$1
special-rules
Special Rules
NO CODE
Bonus Up To15% Rakeback
#13
Sportsbet.io Bonus
4.1/5
star star star star star
Daily Rewards
-
$1
special-rules
Special Rules
-
copy-icon
Bonus Up ToDaily Odds Boost
#14
1xbet Bonus
4.2/5
star star star star star
Deposit Bonus
1.4
$1
x5
-
copy-icon
100% Bonus Up To$100
#15
Mystake Bonus
4.2/5
star star star star star
Deposit Bonus
1.40/selection
$20
x10 in Doubles
NO CODE
100% Bonus Up To$500
#16
Goldenbet Bonus
4.1/5
star star star star star
Deposit Bonus
1.4/selection
$20
x10 in Trebles
NO CODE
100% Bonus Up To$500
#17
FortuneJack Bonus
4.0/5
star star star star star
Cashback
N/A
BTC 0.001
N/A
-
copy-icon
20% Bonus Up To20% Cashback
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Iceland Crypto Betting Sites with High Odds

If you fancy sports betting, choosing the best Iceland betting sites offering competitive odds and high payouts on popular events is worth considering. However, finding these sites from the thousands of options can be monumental. Icelanders consider crypto betting sites an excellent choice to stay away from any regulatory disputes. Reviewing these sites, we consider the site's reputation, payment methods, security, casino library, and bonuses. The list below represents a few of the top Iceland crypto betting sites with high odds.

Bookmaker
Rating
Crypto Coins
Highlights
% Percentage
Amount
#1
white-star
BC.Game
4.3/5
star star star star star
Deposit Bonus
Bitcoin logo
Ethereum logo
USDT logo
check-icon
100+ Coins
check-icon
In-game DeFi Tools
check-icon
Up To 200+ Live Markets Per Event
check-icon
10+ Blockchain Networks
120% Bonus Up To$20,000
#2
Vave
4.4/5
star star star star star
Cashback
Bitcoin logo
Ethereum logo
USDT logo
check-icon
Over 29 Coins
check-icon
Up To 96%+ Odds
check-icon
Over 1,000 Daily Live Events
check-icon
4+ Fiat To Crypto Gateways
100% Bonus Up To1 BTC
#3
BetPanda
4.3/5
star star star star star
Deposit Bonus
Bitcoin logo
Ethereum logo
USDT logo
check-icon
Over 12 Coins
check-icon
Livestreaming
check-icon
40,000+ Monthly Pre-game Events
check-icon
Bitcoin Lightning Accepted
100% Bonus Up To1 BTC
Criteria to choose the best crypto betting sites in Iceland

Because there are many online crypto betting sites in Iceland, you must choose based on your needs. In no particular order of importance, these are some crucial factors to consider.

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The site's reputation: This is one of the most crucial criteria you must check before making a decision. The site's reputation is all-encompassing. The main areas to check are reviews from other users and professionals, customer service, security, game quality and quantity, available sports, betting options and history of dispute resolution.
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Payment methods and payout speed: Generally, crypto transactions are fast, straightforward, and almost free, depending on the network. However, choosing a platform that supports multiple cryptocurrencies and integrates alternatives like Neteller, Skrill, and Debit Cards.
bullets icon
Generous bonuses: Everyone loves bonuses, and the offer varies from one site to the other. So, before using any platform, check the available offers for new and existing players and the terms and conditions.
bullets icon
Game library: If you prefer live dealers, slots, or table games, the reality is that the quantity and quality of the titles vary across different casinos, so it is best to check.
BC.Game Logo
Casino
BC.Game
4.3/5
star star star star star
YEAR EST
2020
check-icon
100+ coins
check-icon
Over 5,400 Games
check-icon
60+ Providers
check-icon
DeFi tools
Pragmatic Play Pragmatic Play
Play ’n GO Play ’n GO
No Limit City No Limit City
Exclusive Offer
120% Bonus Up To $20,000
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How to Deposit at an Icelandic Bitcoin Casino

The first step is to set up a crypto exchange on top platforms like Binance, Bitrawr, Kraken, and Bipanda. Afterwards, fund your wallet either through a bank transfer or credit card. However, it is best to use P2P crypto exchangers to stay completely under the radar.

Once your account is ready, register on your preferred crypto betting site and select cryptocurrency in the cashier section. Most sites offer multiple options like Ethereum, Bitcoin, Litecoin, and USDT. Copy the wallet address and make the deposit. The amount will be added to your account in a few minutes, depending on the network.

While these transactions go unnoticed, withdrawing directly to your bank account can attract huge taxes. So, it is best to use third-party exchangers.

STEP-BY-STEP PROCESS
Crypto Online Casinos in Iceland
Crypto Online Casinos in Iceland
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.

Crypto gambling tax in Iceland

Although the Icelandic Central Bank is yet to fully address the legal status of cryptocurrency and taxation on revenues, the tax authorities have a different opinion. In fact, gains from crypto proceeds, including crypto gambling, are subject to tax laws in Iceland.

Currently, there is no fixed tax rate. However, it is based on income levels, and the current range is between 22.75% and 46.24% of the revenue. One of the benefits of crypto betting sites is that players can stay completely anonymous. However, it is also the responsibility of individuals to report all winnings from their gambling gains to the authorities and subsequently pay what is due.

While risks are associated with using offshore crypto betting sites, this is undoubtedly one of the crucial benefits they offer players. Currently, there are no proactive measures to track and prosecute users, making these sites a top priority for Icelandic players.

How Crypto Gambling is Viewed in Various Regions

Iceland’s gambling landscape might seem confusing but rest assured that it’s not the only country where cryptocurrencies helped simplify things further. For Norwegian players, the situation looked grim, with a state monopoly over gaming, until Norway crypto gambling sites came around and saved the day. On the contrary, Ireland crypto gambling sites gave natives more under-the-radar payment options, spicing up an already vibrant scene.

Our Final Verdict on Crypto Gambling in Iceland
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Our Final Verdict on Crypto Gambling in Iceland

Online Crypto gambling is prevalent in Iceland despite the current legal standings. However, the absence of locally licensed sites means players are only left with foreign offshore betting sites. Hence, players need to do more research before making a choice. There are many criteria to consider, like market coverage, available games, payout speed, site reputation, etc.

FAQs

Accessing online casinos and sportsbooks is illegal in Iceland based on local laws. However, in line with EU regulations, offshore bookmakers with an EU license can accept players from the country.

The best-rated local casinos can mean different things based on personal preference. However, these sites integrate local sports, games, and themes that are in tune with the needs of most Icelandic players.

It is not illegal to bet with cryptocurrency in Iceland. Although the country does not regard it as a legal tender, it is accepted by many businesses and online casinos.

Although crypto gambling revenues are taxable by the authorities, you don't have to pay taxes because it is unregulated. Unless you withdraw directly from your gambling account to your bank, there is no way of tracking such transactions.

Yes, there are many top crypto casinos in Iceland. However, because there are too many options, it is difficult to find these sites. The best approach is to check the top sites based on our expert recommendations.

Cryptogambling.tv is the first site to fully empower crypto iGaming brands. Decentralized digital currencies are the answer to the restrictions that gamblers face worldwide. Your funds, your rules. At the same time, we accept no compromises, and promote only legitimate websites. Trust our expertise, become an avid crypto gambler and maximize your bankroll’s value.
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