In Urugay, the gambling industry is regulated but with limited options for players. The available products are of subpar quality. However, recent development in the iGaming scene offer a way out for local gamblers.
Crypto gambling sites in Uruguay provide a gateway to a wider selection of casino games, attractive bonuses of up to a whole BTC, sportsbook sections with competitive odds of 97%+, and the added convenience of anonymous transactions. If you're interested in exploring the top crypto-friendly sites or simply want to learn more about this emerging trend, let's delve into the details together.
There’s no shortage of top brands if you’re looking for a Bitcoin casino in Uruguay, and you’ll find the most prominent ones here. Our fully tested casinos often accept all the major coins, provide instantaneous withdrawals, support a broad selection of crypto-friendly games, feature higher deposit and withdrawal limits and better privacy compared to Uruguay’s state-run option.
Uruguay has continuously moved back and forth between positions when it comes to its gambling laws. Of course, we’re only interested in the most recent events. In 2018, Uruguay gave a license to La Banca de Quinielas de Montevideo, which essentially operates as a monopoly with La Banca as the only legalised site.
Fear not, though. Uruguay’s Proyecto de Ley Para Juegos de Azar bill, passed in 2016, also leaves plenty of room for Uruguayans to manoeuvre. For instance, the country doesn’t block access to offshore sites, and you won’t be prosecuted for playing at them. This applies to any offshore casino, including the many trusted crypto casinos that feature on our page.
There are no issues with Bitcoin gambling legality in Uruguay, but what about cryptocurrencies themselves? Oddly enough, Uruguay doesn’t take a particular stand on cryptos either way. They have neither approved and regulated nor made the use of cryptocurrencies illegal. However, the executive branch of the government has proposed a crypto bill which would effectively allow the Central Bank of Uruguay to regulate virtual assets in the future. It’s likely that this bill will pass, but that’s not yet reality.
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Uruguayan Crypto Gambling Facts
1
Online casino gambling is illegal in Uruguay, but you won’t be prosecuted for playing. Moreover, crypto gambling operates in a legal grey zone.
2
Uruguay’s online gambling sector is run as a monopoly out of La Banca.
3
Uruguay is one of the few major countries where there are no taxes on crypto profits – yet.
4
Tether recently began operations mining cryptos in the South American country.
5
Uruguay is an open and flexible country when it comes to cryptocurrencies and doesn’t currently regulate them.
Legit Crypto Betting Sites in Uruguay
Officially, sports betting is the monopoly of La Banca de Quinielas, otherwise known as the Uruguayan lottery. However, Uruguayan crypto betting is an unregulated industry operating within a legal grey bubble. Perks include faster withdrawal times, higher limits, more markets, anonymity, and far better bonuses and promos than you’d get from the state-run monopoly’s service. And did we mention odds that can reach 98%? Here are just a few of our legal and must trusted crypto-betting sites for Uruguayans:
Will Uruguay’s Crypto Bill Change Sports Betting in the Country?
Probably not, if we’re being honest. Uruguay’s crypto bill is aimed at regulating (and taxing) cryptocurrencies. It has little to no impact on sports betting in the South American country. What might happen, though, is that any cryptocurrency profits you make while trading them (after winning at a sportsbook) may be taxable as a form of income. We’ll have to wait and see what passes before we can be sure.
Purchasing cryptocurrencies from these exchanges or others is largely the same process, no matter where you reside. There’s nothing in Uruguay’s laws which prevents you from obtaining a crypto wallet and purchasing coins and tokens. You can even use conventional Uruguay Fiat currency payment providers online, such as VISA and MasterCard, to do so. After acquiring your cryptocurrencies, you can transfer them to said wallet.
Armed with cryptos in your wallet, you can then head to one of our trusted offshore Uruguay crypto casinos or sportsbooks. There, you can register and sign in. You’ll find payment options either located on a designated page or under your account settings. Making a payment isn’t much different than using an e-wallet. Of course, the deposit limits (and withdrawal limits, for that matter) tend to be more generous (and faster) when using cryptocurrencies like Bitcoin.
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.
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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.
It is at this point that we usually discuss taxes, both on gambling and cryptocurrencies. Uruguayans are going to have a field day with this, so let’s dive straight into the topic next.
Crypto Taxes & Gambling in Uruguay
This is going to be rather straightforward to answer. Uruguay has neither. In Uruguay, the state-licensed operator must pay taxes on any revenue they make, but this is not required for Uruguayans playing at La Banca. Given that Uruguay doesn’t approve of you playing at offshore casinos and sportsbooks, and because they don’t recognise cryptocurrencies as legal tender or currency, you won’t have to pay taxes when betting at crypto sites, either.
You must surely pay income tax on any profit you make from selling cryptos in Uruguay, right? No – at least, not yet. There is a crypto bill being presented which would make this the case, but right now, Uruguayans don’t currently need to pay any sort of income or capital gains tax on any profits they make from cryptocurrencies. Tax-wise, there’s literally nothing for you to worry about here.
Bitcoin Gambling Around the World
Gamblers all over the globe are starting to realise the advantages cryptos hold over traditional currencies for any gaming use. Highly regulated markets might bring lots of brands into the regions, but the cost is always subpar experience and surrendering any personal information.
That’s how crypto casinos online in Paraguay came to the forefront of the local scene. Players wanted to enjoy top-notch sports betting and casino products without dealing with the headaches operators pose when it’s time for cashing out the winnings, where KYC becomes mandatory. We can see the same effect with crypto online casinos in Argentina that unloaded players from any deficiencies in locally-licensed sites posed on their game in the form of low odds and fewer markets.
At present, the Uruguayan Bitcoin casino scene is one of the most open, user-friendly and accepting of any country. Yes, technically, there are laws in place which prohibit online casino gambling and sports betting when it doesn’t take place at La Banca. However, Uruguay also makes it easy for you to bet offshore but doesn’t punish residents and nationals who do so.
This gives you a wealth of options that many crypto bettors in other countries don’t have. We can only encourage you to take advantage of this type of offshore (but legal) crypto-gambling scene.
FAQs
Yes and no. Some aspects of online gambling are legal when they are run by the state monopoly. Others are not legal, but even if you play at offshore crypto sites, you won’t be punished for doing so. They operate in a legal grey area.
Again, this is a yes and no kind of answer. There are no crypto casinos located in Uruguay, but there are certainly crypto casinos located offshore which cater to players in Uruguay.
Until Uruguay passes its crypto regulation bill, there are no restrictions on which exchanges you can join. In short, yes, players from Uruguay can purchase, trade, and sell cryptos at Coinbase – for now.
Yes, you can. Obviously, given La Banca doesn’t accept cryptocurrencies, you can only do this at top and trusted offshore crypto sportsbooks. However, you’ll find many of them right here, so yes, it is very much possible.