Online Casino in Iceland

Modern gambling often becomes the center of various disputes and discussions. Many countries are preparing to accept its conditions and make it legal while other states are actively fighting gambling, especially on the Internet. At the same time, some countries where this legal business receive excellent income improving the domestic economy. How is the casino industry developing in Iceland?

In fact, Iceland has excellent tourism potential, so the authorities thought about legalizing gambling almost 10 years ago. In 2010, the Ministry of Industry showed interest in developing this business in Iceland, which could solve several problems. Ministry of Health was concerned about the possible emergence of ludomania, the consequences of which are comparable to alcohol addiction. Later, the government of Iceland said that the country provides a lot of entertainment for numerous tourists. On the other hand, gambling was a great opportunity to replenish the country’s treasury, because according to the Danish scheme, gaming halls spent 60% of their annual profit on paying taxes.

All this time in Iceland there were numerous lotteries and slot machines. However, the government’s plans to expand the gambling business in Iceland were unsuccessful. This may sound strange, but the first positive changes appeared only after the default when many holes appeared in the local treasury. To seal them, Iceland attracted several investors who opened gaming halls in large hotels. After that, slot machines and croupiers appeared in small hotels. Why did the government choose hotels? Iceland is a beautiful country with a unique nature whose beauty millions of tourists come to see. They visit national parks, rocks, geysers, and volcanoes. In the evening, they have free time that they could spend in Icelandic casinos. Furthermore, locals love gambling too.

Virtual gambling is another feature of the country. Thanks to the Internet, gambling penetrated every PC and smartphone. Icelandic people love these gadgets so they are active customers at internet casinos. Nevertheless, you should know what pitfalls can expect you in Icelandic, British and other online casinos where you will place bets and win real money. All important issues will be addressed in our review. With these tips and instructions, you can fully enjoy gambling in the safe and generous gaming rooms of Iceland.

Iceland: 11 Casinos

(5 Gamblers voted)

Betsson Casino

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Details
Up To 200 CS
Restricted Countries
Afghanistan, Algeria, Angola, Australia
Live Chat
Yes
Established
2001
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Casino Action

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Details
Up To £1250
Restricted Countries
Afghanistan, Angola, Armenia, Australia
Live Chat
Yes
Established
2002
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Casino Classic

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Up To £500
Restricted Countries
Afghanistan, Angola, Armenia, Australia
Live Chat
Yes
Established
1999
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CasinoEuro

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Up To 200 FS
Restricted Countries
Afghanistan, Algeria, Angola, Australia
Live Chat
Yes
Established
2002
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Colosseum Casino

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Up To $750
Restricted Countries
Afghanistan, Angola, Armenia, Australia
Live Chat
Yes
Established
1999
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Golden Tiger Casino

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Up To £1500
Restricted Countries
Afghanistan, Angola, Armenia, Australia
Live Chat
Yes
Established
2001
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Guts Casino

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Details
200% Up To £100 + 100 FS
Restricted Countries
United States, Afghanistan, Algeria, Angola
Live Chat
Yes
Established
2013
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LeoVegas Casino

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100% Up To £400 + 100 FS
Restricted Countries
Czech Republic, Cyprus, Serbia, Slovenia
Live Chat
Yes
Established
2012
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Royal Panda Casino

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100% Up To $100
Restricted Countries
United Kingdom
Live Chat
Yes
Established
2014
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Virtual City Casino

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Details
Receive Over €500
Restricted Countries
Afghanistan, Angola, Armenia, Australia
Live Chat
Yes
Established
2018
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Zodiac Casino

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Details
Up To £500
Restricted Countries
Afghanistan, Angola, Armenia, Australia
Live Chat
Yes
Established
2002
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Types of Online Casino in Iceland

As you already understood, the situation with gambling in Iceland looks ambiguous. For this reason, local players prefer to bet on foreign platforms that accept customers from Iceland. Thus, gamers can visit the best virtual casinos in the world by winning real money in the most popular slot machines.

Each resource is unique but we can divide all casinos into 2 categories based on software. The first type is the gaming halls that you can download to your computer, respectively, the second one is non-downloadable. Both versions open the door to the world of excitement, nevertheless, they have key differences that will make your session fun or vice versa. To make it easier for the player to make a decision, we will delve into the characteristics of each category.

Generally speaking, experienced gamblers recommend downloadable online casinos that do not restrict players’ access and do not require a lot of hard disk space. Despite many of these tips, we will look at the pros and cons of these gaming rooms.

Pros:

  • The visualization and sound are rich and the software itself provides advanced settings that will make the gameplay individual.
  • Reels and animation effects always work smoothly.
  • The downloaded casino has almost no glitches so you can count on a long and profitable session.
  • The interface is interesting and convenient. Participants do not need to wait for the game to load.

Cons:

  • Downloading and installing software will take some time, so you won’t be able to play.
  • As a rule, it requires 250+ MB of hard disk space to install the platform. This is not much but for older devices, this is a problem.
  • The downloadable casino is only suitable for gamers who play on only one PC.

In terms of preparing for the game, a non-downloadable casino will be more convenient since it runs in any browser (if it is updated to the latest version). Games, payment instruments, and available bonuses will not differ, but still, we need to look at the advantages and disadvantages.

Pros:

  • The player can visit his/her account on any PC/laptop.
  • To prepare for the game, the user only needs to create an account specifying the necessary data. Download and installation are not required.

Cons:

  • The game may be interrupted when the Internet connection is poor. Due to the unstable operation of the global network, communication with the club and games can be disconnected.
  • Musical effects and graphics are offered in a simplified form. Sometimes they are frankly boring.
  • With errors, the downloaded resource can restore the gaming session, but unfortunately, this option is not offered in this type of casino.

There is another type of virtual casino – resources offering live games. Games with real croupiers have become very popular due to a new atmosphere similar to what you feel in land-based halls. Such sites are represented in Iceland in a wide variety and you can download them too.

Which casino would be the best solution? It’s up to you…so, decide what you want to get: a quick game or high-quality graphics with a suitable atmosphere? 

Types of Casino Games for Gamblers in Iceland

Offline gambling appeared in Iceland not so long ago, so laws on online gambling are still under development. This means local gamers and tourists will not find legal Icelandic online gaming platforms. What to do? Those of you who want to bet online are forced to look for foreign gaming resources. Fortunately, such sites are rarely blocked so Icelanders can play without restrictions. Slot machines are represented in a wide variety on land but local players consider this arbitrary.

By the way, Icelanders who win real money on an offshore site do not pay taxes. In 2015, Icelandic officials proposed a bill on the legalization of virtual gambling that would significantly improve the economy in the country. As you already understood, this idea did not receive the right to life.

Many experts say that this was unreasonable because Iceland has the opportunity to become one of the most popular tourist centers, but for this, the government needs to create special gambling zones. It is also worth noting the variety of games that they would offer. At the moment, Icelanders visit foreign sites and enjoy these games:

Video Slots. Digital versions of slot machines cause delight and the audience because they are bright, beautiful, and original. You’ll be full of beans when you see slots powered by NetEnt/Betsoft/Microgaming/Yggdrasil. Their designs are distinguished by interesting storylines and dizzying visual effects. They also offer Wilds, Scatters, FreeSpins, and other bonuses that will increase your bankroll. Among the Icelanders Starburst, Genie Jackpot, Slots O’Gold slots are the most popular.

Table Games. If you want to not only get great skills but also improve your skills and strategies then you will need to find a section with table games. It is offered in almost every Icelandic casino, so this will not be a big problem. Roulette; BlackJack Sic Bo; Baccarat; Pontoon; Poker will help you increase your bankroll. The listed games are also offered in Icelandic live casinos which have their own studios where the client can choose a table and croupier. Thanks to modern equipment and HD format, players get positive emotions and immerse themselves in the atmosphere of real casinos.

It’s no secret that Icelanders love sports, so they often visit sports betting sites. The Betsson Sportsbook & Betting Exchange resource on the Internet that offers the best odds for all sports for users from Iceland.

Due to the lack of prohibitions, these sites offer many convenient payment methods, currencies, and games. The gamer has the opportunity to choose any platform and test all available games from 3-reel slots to live dealers.

Online Gambling Laws and Regulations in Iceland

Iceland is a beautiful country and you are unlikely to find such landscapes in other places. Tourists come here to explore the unique culture, taste incredible cuisine, and see some of the largest volcanoes. To make tourism more popular, the Icelandic government has legalized some forms of gambling (slot machines/lotteries/sports betting). This list is limited so local players and guests of Iceland are forced to win real money on international websites. Fortunately, officials do not attempt to block these platforms, so Icelanders are not limited in their ability. In 2019, Icelandic legislation does not prohibit playing on offshore resources.

For many years, the Icelandic economy has been stable, but for unknown reasons, the government has turned to other countries of the European Union for external assistance. Accordingly, this situation had negative effects on gambling. Laws designed to untie the hands of foreign online operators were supposed to enter into force in 2012 but the event was postponed for several years. At first, the Icelandic government postponed the adoption of new laws for 2014. Then the European countries closed their borders for virtual gambling indefinitely and Iceland followed suit. Finally, in 2018, the Icelandic authorities promised to review gambling laws. These days, many forms of gambling are still banned in the country.

University of the Lottery of Iceland is the only official body whose authority includes the regulation of gambling in the state. In 1994, this organization received permission to host a series of slot machines near bars, restaurants, and gas stations.

What about virtual gambling, it is also forbidden because Icelandic laws prohibit operators from accepting bets online in the country. Surely, this is still the headache of a government that has repeatedly looked at the prospects of this business. In 2019, we don’t see any positive changes, therefore Icelanders don’t need to hope for changes. We all understand that the legalization of virtual gambling will help Iceland get rid of financial problems quickly enough. Players are not upset because there are several loopholes in their arsenal that they actively use. They always have access to licensed casinos in the UK that offer quite a lot of slot machines and bonuses.

All types of gambling are regulated in Iceland by laws adopted in 1998. They allow slot machines located near bars/gas stations and several types of lotteries. It is worth noting that the parliament made machines legal only for the Lottery of the University of Iceland, but the organization spends all the proceeds on charity. Theoretically, other companies can hold lotteries too, but obtaining permission is difficult.

New gambling laws? Maybe they will appear in the future, but now the forecasts are not comforting. A country with such a tourism potential should use all available tools, but the Icelandic parliament is not ready for new bills, so you will have to visit foreign portals. Fortunately, you will find them on our website where we also give useful tips. As for now, 70 virtual casinos are open to Icelandic players (All British, Barbados, 888casino and many others).

Best Deposit Methods for Gamblers in Iceland

Each year, the Internet absorbs more and more users offering them many new opportunities. To buy clothes, food or even a car, you no longer need to go to shops and auctions. All products are offered on the Internet and their variety is crazy. Despite the development of modern technology, sometimes it’s difficult for us to make a purchase or a transaction in an Icelandic online casino.

As you might expect, credit/debit cards have become the most popular way to send money to casinos that play slot machines in Iceland. Why are they in demand? First of all, such a card is always at hand which makes it universal and convenient. VISA/MasterCard/Maestro are presented on almost every platform that offers slot machines. To make a deposit, the user only needs to specify special numbers and confirm the transaction. Using this payment tool you can face only one problem: some countries prohibit sending money to and from virtual casinos. Fortunately, this is rare.

Gamers who are fortunate enough to already play in Icelandic online casinos must have had to deal with Neteller. This is a fairly large and popular system in virtual gambling. Neteller has customers all over the world because of the honest work and safety of customers who trust their money.

We bet each of you bought at least one product on the Internet. What payment service will be presented on each website with a probability of 99%? Surely is the legendary PayPal that has become famous for its cutting-edge security system, fast transactions, and friendly support. It has become so popular in virtual casinos that some operators even activate special bonuses for those who deposit via PayPal. Service does not always want to work with CIS countries, but for Icelanders, this is not a problem.

Are you worried about your money? Don’t want to disclose your data? In any case, you do not have to use Internet payments as you can always visit a financial institution and send Wire Transfer. Today, these are the longest transactions because bank employees check all data within 2-3 business days. In addition, you will need to pay a significant percentage of the transaction, especially if you want to send another currency. The choice, of course, is yours…but we always recommend using modern solutions.

Before every transaction in an Icelandic casino, it would be nice for a gamer to study the limits and rules. Usual, gaming halls set the acceptable sizes of deposit/withdrawal in advance. Credit/Debit cards and e-wallets make the fastest transactions, but some of them charge fees.

Accepted Currencies in Iceland

At the moment, residents and visitors of Iceland located on the island of the same name use the Icelandic krona, which is referred to as “ISK.” The local currency has the form of coins and paper notes that are used in all areas of activity. But what about virtual casinos? The first such websites appeared in the United States, so the players used only dollars. When online gambling appeared in other countries, users wondered what currency it would be better to use so as not to spend extra money on an exchange. Some operators accept only one (local) currency, but this is rare because most modern platforms want to consolidate their position in the international market, therefore they are offered in American/Canadian/ Australian dollars, British pounds, and Icelandic krona of course.

Obviously, Icelandic gamers are not fans of pounds/dollars because they want to use the national currency. In Iceland, there are many ways to convert currencies, but such services are often accompanied by additional fees.

As we have already said, modern technologies in virtual gambling provide the best advantages. Therefore, we recommend that players from Iceland use Bitcoins. Cryptocurrency has appeared in many gaming halls because of its convenience as it is fast, flexible, and secure. No tool can track your transaction, even with the most powerful technology. Furthermore, crypto transactions are free and they are sent instantly. Think about it before playing in the Icelandic casino.

Predictions About the Future of Online Gambling in Iceland

The Icelandic government is puzzling over whether to give legal status to virtual gambling that has already improved the economy and tourism in other countries. In fact, the relevant laws could have been passed several years ago, but due to the increased incidence of addiction, they were postponed indefinitely. New research showing that 2+ Icelanders are ludomania worsened the situation. If we concentrate on the percentage ratio, we will see that the authorities are not doing anything to resolve the gamble and solve an important problem.

Some experts say that Iceland should block offshore websites but these statements provoke a negative reaction from gamers who want to play their favorite slots and win real money. What to do? Clearly, the government should find an effective solution to reduce the spread of ludomania, but at the same time, it should maintain a high level of tourism.

The last time state leaders spoke about virtual gambling in 2018 promised to revise existing laws. Since then, the situation has not changed and we do not know whether new bills will be developed in the future. So, Iceland is wary of gambling, despite 70% of the locals who regularly visit British and other virtual casinos. On our site, we always update the list of available platforms for players based in Iceland.

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