Gambling in Switzerland might be run solely by the state, but this doesn’t stop it from steadily growing. To break free from the mundane options and restrictions that are active in the country, locals take on Swiss crypto gambling sites. Secure, fast and with high privacy standards, they allow for close to absolute freedom in your betting activities.
Whether you are new to crypto gambling and want to learn more about it or just looking for the best casinos, sportsbooks and bonuses, keep reading and we will answer all your questions. Thousands of slots, high-odds sports markets and innovative features await you below.
Thanks to the flexibility of crypto payments, it is easier than ever to try your luck with the best brands out there. Our experienced team has filtered all the top websites with valuable crypto casino & sportsbook bonuses that residents of Switzerland can activate when they sign up. The list is updated regularly, so you can always find new crypto casinos that we have hand-picked.
Local online casino gambling laws require Swiss casinos to obtain a valid licence to operate online. To qualify for an online casino licence, they must already have an active land-based one. There are 21 licensed land-based casinos in Switzerland at the moment. However, only a few have taken steps to launch an online gambling site. By March 2021, only eight online casinos had launched in Switzerland.
The Swiss Gambling Supervisory Authority, Gespa, is the organisation in charge of sports betting and lotteries. The organisation, previously known as Comlot, was established in 2011 and became part of the Federal Department of Justice. Its website provides information on how to start a gambling-related business or join a lottery organisation and how to start sports betting or lottery games online.
So, are crypto casinos legal in Switzerland? Yes, but only if they hold the local license. The fact is that no crypto-friendly brand has acquired the Swiss license up to this day. However, no one can block your crypto transaction to offshore licensed websites. Therefore you can easily avoid local restrictions.
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Swiss crypto gambling facts
1
Crypto gambling sites need to have a valid licence; casinos with an offshore licence also exist, but the government is trying to limit them.
2
Swiss casino websites offer games from various providers, like Netent, Playtech, and Microgaming.
3
Crypto only casinos offer the opportunity to bet with crypto. On hybrid Casinos, players can bet with fiat currencies like swiss franc, euro or dollar and deposit with cryptos.
4
Almost every Swiss crypto Casino offers a mobile-friendly version of their website; some even come with their own app.
Legit Swiss crypto casinos
Crypto casinos are almost identical to traditional online ones. The difference is that they accept cryptocurrencies as a deposit and withdrawal method. Many crypto casinos in Switzerland allow you to play anonymously without sharing any personal information. This is very convenient for those who want to maintain their privacy and keep their credit card information off the internet. Check our favourite ones out, featuring exclusive bonuses and lightning fast withdrawals.
First, you need to find a reliable crypto casino in Switzerland. This means choosing a casino that offers multiple deposit methods, fast withdrawals, secure encryption technology and provably fair games. Look out for bonus promotions that include free spins and low wagering requirements, to have good chances of cashing out the amount.
At a crypto casino, you’ll also want to look at their loyalty program and the benefits it offers, as there are some really lucrative ones. Most loyalty programs at crypto casinos offer rewards in the form of points for playing, bonuses, cashback or free spins. If you are a high roller, you should also check if there’s a VIP program to get even better personalized promotions.
Safe crypto betting sites in Switzerland
Crypto bookmakers are a unique breed compared to traditional operators. Cryptocurrencies are revolutionising the gambling industry all over the world, as users appreciate the anonymity and low transaction costs, coupled with fast payouts and the availability of digital wallets.Crypto bookies stand out by offering high odds and access to a wider range of markets compared to locally licenced traditional ones. Here are our top picks for bookies accepting Bitcoin & other cryptocurrencies.
Check if the most important events and your favourite sports markets are available, especially since Swiss bookmakers have a wide range of different types of bets and events
Read the Bonus terms & conditions before you sign up for a Swiss betting site; there are minor differences between each other like wagering requirements, events that may not be available for free bets or specific rollover requirements for bonus amounts
Swiss Bookmakers should have Cash-Out and Live-Streaming features; moreover, they should be offering 1,000+ daily live events
How to deposit on crypto gambling sites in Switzerland
If you want to gamble with crypto, the first step is to create an account at a popular crypto exchange such as BitcoinSuisse or Coinbase. Then, you will have to set up a payment method (e.g., a bank account) and send funds to your new crypto account. Remember to always send any cryptos to your private wallet first. Once this transaction is complete, you can go ahead and deposit funds at the betting site or casino of your choice. Once you are ready to withdraw your winnings from the casino, simply follow the same steps in reverse. The withdrawal process is relatively easy, as you will just have to type your wallet’s address in the withdrawal options’ relevant field.
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.
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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
The Swiss Federal Council has issued a report about crypto regulations on virtual currencies, noting that current laws apply to crypto transactions. This is however not a definitive answer as to whether licensed gambling sites in Switzerland can accept bitcoin and other digital currencies; but it appears that they can. Bottom line is, it's not illegal. But how are crypto gambling winnings taxed in Switzerland? That question is actually more complicated than it seems at first sight.
How are cryptocurrencies taxed in Switzerland
The law distinguishes between different kinds of assets. If a trader converted Bitcoins or any other cryptocurrency into fiat currencies, such as CHF, EUR, or USD, the crypto regulation would apply taxes similar to an ordinary asset. Just like any investment in stocks, for example, this would be subject to wealth tax, which would then have to be declared.
The wealth tax differs from one canton to another and has a rate between 0.5% and 0.8%. Capital gain tax in Switzerland is usually tax-free, except if you are qualified as a professional investor or you’re involved in the crypto market; then there is a chance that you would have to pay a tax on your capital gains (counted as income).
How are crypto casino winnings taxed in Switzerland
To tax gambling in Switzerland is a complex affair. There are several different kinds of taxes (corporate tax, personal income tax, etc.), and they may vary depending on the venue where the gambling takes place (land-based or online casino). While the new law has removed some of the restrictions that were previously only applying to online gambling (like VAT), it has also made some aspects more complex and challenging to understand.
For example, net gaming winnings up to 1 million Swiss francs (about 951,000 euros) are not taxable; while a 20% withholding on top of any other taxes imposed during play applies on amounts above that limit. In addition, lottery and skill games organised by local canton authorities are exempted from taxation up to CHF 1000 (€ 953) per player, per year.
Stay under the radar
If you want to gamble using cryptocurrency in Switzerland, the easiest way is to deposit via a private wallet. You can then deposit from this wallet into one of the many offshore crypto gambling sites with low KYC requirements. Once you’ve made your deposit and credited funds to your account, you can bet. If you win any money, it will be better to withdraw it to your private wallet because it would be risky to withdraw it directly to the crypto exchange.
The Swiss government is exceptionally tax-friendly, so many people come to Switzerland to gamble. But, if you ever transfer your crypto funds back to a regulated exchange to cash them out for CHF, you should report everything. This is because fiscal authorities keep a close eye on crypto exchanges and any transfer above a certain threshold has to be reported.
Is this only a local issue?
A low-profile approach is the optimal way in most countries when it comes to gambling on offshore websites with cryptos. Not only because of possible taxes on reported crypto winnings but because most nations now require casinos & sportsbooks to hold a local license. Let’s see Italy and Germany for example.
Gambling websites in Italy need to be approved by the ADM, and no Bitcoin casino in Italy is, due to bureaucratic issues with cryptos. The same happens over the northern border as well. After the new State Treaty on Gambling, it is extremely hard for a crypto casino in Germany to receive a local license. In short, sticking to anonymous crypto wallets is best due to the current grey state of affairs.
*Remember, as we are not financial advisors, this is meant to be a simple overview of the current fiscal situation. Contact a tax professional for your financial inquiries, as errors may lead to significant losses & subsequent fines.
Our final verdict on crypto gambling sites in Switzerland
Our final verdict on crypto gambling sites in Switzerland
Gambling in Switzerland is tightly regulated, so local players have limited options. A possible solution is to use cryptocurrencies to fund your gambling account. Crypto transactions are anonymous and the government can’t monitor them as strictly as local ones. We recommend trying out our listed swiss crypto gambling sites to get around these restrictions and enjoy top-quality entertainment without sacrificing the quality of gambling products.
FAQs
It depends on the type of each betting site. If you bet on crypto-only bookmakers, you can place bets in crypto. On Hybrid bookmakers, you can deposit via cryptocurrency, but you will place your bets in CHF, EUR or USD.
Gambling in Switzerland has been allowed since January 1st 2019. Online gambling sites need to have a valid licence to provide their services, even though many offshore gambling sites also accept local players.
In order to do so, you would basically need to create an account at an official exchange for crypto, which could be Coinbase, Kraken or Kucoin.
In order to say which is the best crypto casino, there are many different factors like withdrawal times, customer support, bonus terms & conditions and much more; above, we have provided a list of the best crypto casinos in Switzerland that offer exclusive offers and support many cryptocurrencies.