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If you are an avid bettor in Europe, you are probably aware of the gambling restrictions that are in place in most countries. You must also be aware of the offshore bookmakers that go beyond boundaries to offer punters an incredible gaming moment unlimitedly. In this review of the best bookies by country, we shall look at Iceland. As much as we focus on the bookies, we shall also dig deeper to have a better picture of the gambling industry in this European nation.


Which are the Best 4 Bookmakers in Iceland?

Below we detail the best betting sites in Iceland for 2022 in a list.

FortuneJack
Cashout
Live Betting
  • High-odds bookies
  • Excellent support
  • Secure crypto payments
7,5 BTC Welcome Bonus + 500 FS
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  • Live Betting
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22Bet
Cashout
Live Betting
  • Good sports bonus
  • Many betting options on sports
  • High odds
100% up to €122 First Deposit Bonus
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  • Live Betting
  • Cashout
  • Casino
  • E-Sports
  • Live Casino
  • Lottery
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NordicBet
Cashout
Live Betting
  • Good odds
  • Live stream
  • Cash out option
€10 Bonus
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FeaturesShow all
  • Live Streaming
  • Live Betting
  • Cashout
  • Casino
  • E-Sports
  • Live Casino
  • Poker
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Unibet
Cashout
Live Betting
  • Good bonuses
  • Big range of sports betting options
  • Different casino games
100% Bonus Up to £40
New customers only. Min deposit £10. Money back as bonus if first bet loses. Wagering requirements: sportsbook 3x at min. odds of 1.40 (2/5), casino 35x. Unless forfeited the sportsbook bonus must be wagered before using the casino bonus. Bonus expires 7 days after opt-in. No deposit required for NI customers. Call 08081699314 to claim. Full T&Cs apply | 18+ | begambleaware.org | gamstop.co.uk | Play Responsibly
FeaturesShow all
  • Live Streaming
  • Live Betting
  • Cashout
  • Casino
  • E-Sports
  • Live Casino
  • Lottery
  • Poker
  • Virtual Sports
PaymentsShow all

Best Betting Sites in Iceland Ranked

  1. FortuneJack – Silentbet’s Top Pick for Iceland
  2. 22bet – Best odds and competitive payouts
  3. Nordicbet – Top bonuses and specials
  4. Unibet – Best apps for betting in Iceland

Iceland’s TOP 4 Bookies Reviewed

The four best betting sites in Iceland include FortuneJack, 22bet, Nordicbet and Unibet. As usual, we shall get into details and check the attributes, pros, and cons of each. Let’s dive into this noble task now:

FortuneJack

Our #1 pick is a veteran online gaming site owned by Nexus Group Enterprises. FortuneJack was established in 2014, implying that it has been functional for around seven years. As a legally operating betting site, FortuneJack operates through a license granted by the government of Curacao.

FortuneJack live betting  

Within the operational moment that FortuneJack has been active, it has developed an enviable gaming lobby. This lobby is decorated by a casino option, sportsbook, dice and live casino. As you enjoy these, be ready to experience the best services ranging from customer support, payment methods, and easily navigable betting site. Moreover, the platform offers different odd types, giving you a chance to select what pleases you.

  • Iceland punters can transact in cryptocurrencies
  • Cash-out and its options available
  • Above-average industry odds
  • Fast withdrawals for Icelanders
  • Limited live streaming service
  • Cryptocurrency only available in the sportsbook section

Visit FortuneJack


22bet

This is a rich betting site operating in several countries globally. The platform of 22Bet has a significant license from the Government of Curacao and several local licenses. The licenses enable the platform to serve punters from Kenya, Nigeria and Tanzania. This European-based online bookmaker is currently working hard to avail its awesome betting products to even more countries in Africa.

22bet LoL  

22bet operate different betting sections. The major ones include a well-loaded sportsbook with events from different parts of the world and a casino with thousands of different types of games and slots. Additionally, it also has Tv games and a virtual sports section well packed with simulated sports and a live casino for the best experience at the reach of your mobile device.

  • Unique features like live streaming and cash out are available
  • Above-average betting odds for Icelanders
  • Special mobile apps are available for punters
  • Excellent customer support available 24/7
  • Live streaming available on selected events
  • Slow-loading website

Opt for 22bet


NordicBet

Here is a Scandi bookmaker that was established in 2002. NordicBet is owned and operated by BML Group, but in 2013, it was taken over by the Betsson Group. Currently, the bookie operates under a license from the Malta Gaming Authority, proving to be a legal and legit site. Additionally, it holds local licenses in Denmark and Sweden, enhancing its online presence.

NordicBet live betting page  

Nordicbet is well known for its impressive gaming lobbies in the casino, virtual sports, sportsbooks, and poker sections. While the sportsbook brings you a wide range of events from all over the globe, the casino bombards you with different types of games and slots. Virtual sports is for the lovers of video games, and this could be an excellent replacement for the other sections when boredom sets on.

  • Dedicated mobile apps available for the Iceland punters
  • Outright and special bets are available
  • Wide range of bonuses and promotions
  • Live streaming service available for Icelanders
  • Doesn’t accept cryptocurrencies
  • Levies some fees on card deposits

Join NordicBet


Unibet

Our last entry is a modern bookmaker with tons of experience in the online gaming arena. Unibet was established in 1997 and went online in 1999. Unibet is a product of Kindred Group PLC, a company listed on the Stockholm stock exchange. Majorly, the platform holds a license from the Malta Gaming Authority, UK and Gibraltar. Furthermore, it has local licenses in Australia, France and Sweden, among several other countries.

Unibet Europa League  

For Unibet to appear among the best betting sites in the Iceland list, it has met some threshold that we use to rank the bookies. The criteria checked the betting options, the payment methods, the customer support and the general usability of the site. Unibet scores perfectly well alongside the bonuses, promotions, odds, and markets. Consequently, it is one of the sites you could try out.

  • Live streaming for major events available all through
  • Avails mobile apps for punters from Iceland
  • Cash-out service available
  • An excess of 10,000 live events monthly
  • Doesn’t take in cryptocurrencies
  • Slow customer support responses, especially when using email

Go to Unibet

Ranking Criteria at a Glance

To develop the best Icelandic bookmakers, we usually consider various parameters. Each of these is aimed at giving you the best possible putting moment. Let’s discuss each of these and see how they contribute to identifying the best betting sites.

  • Usability and Navigational Capabilities of a Website – Different bookmakers have different website structures. To ensure you get the best bookie, we usually select bookies with the most interactive navigational features, fast loading speed and clean outlook.
  • Bonuses and Promotions – All our selections feature bookmakers with the best bonuses and promotions. As expected, our aim is to give you the most attractive bonuses that will add thrill to your online gaming moment.
  • Odds and Markets – The odds determine the size of wins you will take home if things work your way, while the markets are the different ways of staking. All our bookies feature the most significant odds and the most approachable markets.
  • Payment Methods – Before we list down a bookmaker on the list of the best online bookies in Iceland, we check the payment methods the bookie offers its punters. We prefer giving a suggestion of bookmakers with the largest number of payment methods to save you the hustle of looking for an effective payment method.

Betting Industry in Iceland – Things to Know

Like it is with any other country’s betting industry, the Iceland betting industry is unique in its own way. For that reason, let us focus on some significant industry attributes for a better appreciation and knowledge as we place bets here.

  • Currency: Icelandic Krona
  • Population: 366,425
  • Active Players: 249,900
  • Designated Authority: Iceland Financial Services Authority entrenched in the Ministry of Justice
  • Regulated Gambling Products: Sports betting, casino betting, bingo, poker, scratch cards and lottery
  • Types of Operators: Offshore bookmakers, Getsa – State-owned gambling monopolist

Did you know that?

  • The minimum gambling age in Iceland is 18 years.
  • Football betting is the most common type of gambling in Iceland
  • Winnings from gambling are not subject to taxation as gambling is not a profession
  • There are no laws or restrictions on the offshore gambling bookmakers operating in the country

How to Bet Online in Iceland – Quick Steps

Assuming that you went through the list of best online bookies in Iceland and found your choice, we would like to take you through the process of gaming on these sites. The process is simple and doesn’t take much time. In the section below, take note of the steps involved:

  1. After choosing a bookie from one of the four we listed in this review, head straight to the registration button and key in your registration details.
  2. Create an account and proceed to deposit through a method of your choice
  3. Check the gaming section and decide if you want to play sports betting, casino games or another section
  4. Scrutinize the types of markets and pick on the one you would love to bet in
  5. Enter your selection on the bet slip and watch out for the event’s outcome.
  6. It’s always good to compare the odds on the different markets when betting. As an avid bettor, you will always know what the size of the odds indicates.

Iceland Online Betting Scene

Iceland takes a mixed approach in betting firms as there are legalized forms of gambling while others are restricted. In whatever the case, gambling in Iceland involves casino games, slots, sports betting, lottery and bingo. The betting services are offered by both local betting companies and offshore bookmakers.

Under the below sections, we shall establish the truth about the gambling legality in Iceland. This way, we shall get a reliable conclusion of the country’s betting industry.

As per se, betting in Iceland is illegal. But, the government of Iceland has legalized some form of gambling that involve sports betting, lottery and slot halls. But the legalization applies to a few scenarios where the organizing companies are not for profit.

An excellent example of this is the University of Iceland lottery permitted in 1933. The winnings from this lottery were used in running the university. This exemption paved the way for gambling for charity or social causes in Iceland today.


Do bookmakers restrict Icelanders?

Following hard and fast rules and restrictions on casino and sports betting for profit, many opportunistic bookmakers have flocked into the country to offer the punters a chance to enjoy an ample online gaming moment. Therefore, there are no restrictions that these online offshore betting companies place on Icelanders.


Is there any tax on winnings?

Iceland law doesn’t recognize gambling as a profession whatsoever. Therefore, there are no taxes on winnings from online gambling in Iceland.

But, legalized state-owned gambling companies either pay some tax or channel the money to social causes.


What Betting Specials & Offers will Icelanders Enjoy?

As the Icelanders enjoy gambling with international bookmakers operating in the country, they get a chance to enjoy several offers. The offers come in different forms and types, and the most common include the following:

  • Deposit bonuses
    A deposit bonus is offered to a punter after crediting their account with money. The bonus is usually a portion of the deposit you make, but the amount will not exceed a certain amount.
    Deposit bonuses are given as a welcome bonus or an offer for the existing customers.
  • No deposit bonuses
    If you happen to join the top bookmakers in Iceland, you will have the chance to enjoy no deposit bonuses. A no deposit bonus is given even when you don’t deposit any qualifying amount. Though rare, it is one of the most profitable offers you can scoop from a bookmaker.
  • Compensation bonuses
    Nobody joins a casino with a motive of losing but winning. But odds might work against you at times, and losses happen. If that happens, some bookmakers will compensate for your losses in a cashback offer. Although you will not receive all the amount lost, you will receive back some amount.
  • Loyalty and VIP programme
    Most of the best betting sites in Iceland will have special clubs for the most loyal punters. Under these clubs, there are certain rewards and privileges to enjoy. Examples include free spins, free bets, invitations to exclusive events and others.

What are the most Popular Sports Bets in Iceland?

The most popular sports to bet in Iceland include the following:

  • Football
  • Golf
  • Handball
  • Basketball
  • Badminton
  • Athletics
  • Horse racing
  • Tennis
  • Greyhounds
  • Cricket
  • Boxing

As you consider the best sites for betting in Iceland, please ensure the bookie you choose offers you complimentary services like live betting, cash out, live streaming and size of odds.


Online Casinos in Iceland

Online casinos in Iceland are also top-rated. Although many punters in the country are avid football bettors, there are still casino enthusiasts who prefer playing online slot games, casino table games, bingo and poker titles.

Since online casinos are not legal in Iceland, all those operating in the country are international bookmakers. Since the government doesn’t have issues with them, they are many in number.


Currency & Payments

Although gambling in Iceland is illegal, the government doesn’t limit the currency used in gambling. Therefore, punters can use the Iceland Krona on any payment method to enjoy their online gaming thrill.

Below are some of the payment methods that you can use on the best betting sites in Iceland:

  • Bank cards: You can deposit and withdraw through Visa, MasterCard or Maestro.
  • Electronic Wallets: You can also deposit and withdraw through e-wallets like PayPal, Neteller and Skrill.

Other payment methods include bank transfers and debit cards like visa electron.


Mobile Apps for Punting

It has now become a necessity to check if a bookie offers special mobile applications or mobile means of punting. This is due to the convenience that comes with mobile betting. It doesn’t matter whether you are in the office, traveling, or having a nice coffee date with your new catch! All you need is a phone, and that’s it.

Due to this new development in gaming, all the best sites for betting in Iceland offer either a dedicated app or a mobile betting website. A good example is an app developed by Nordicbet, 22bet, and Unibet. FortuneJack hasn’t been left behind as well.


Top Bookie in Iceland

Being experts in analyzing bookmakers for the best, Silentbet won’t miss a pick for bettors in Iceland. This pick is non-other than the mighty FortuneJack!

FortuneJack is a modern online bookmaker with significant influence. The bookmaker treats its clients to satisfaction thanks to its different gaming sections, including a sportsbook, casino, dice, and live casino. Moreover, it is a well-known crypto platform that offers above-industry odds, fast processing of payments and gives the players a chance for cashing out.

  • High-odds bookies
  • Excellent support
  • Secure crypto payments
Live Betting
Casino
Cashout
Live Casino
E-Sports
Virtual Sports

The Bottom Line

Gambling is illegal in Iceland. But there is no specific regulation that arrests offshore bookmakers in the country. Consequently, hundreds of betting sites serve players from Iceland, which necessitates a careful selection process. With this guide and a few top recommendations from the experts at Silentbet, you can easily find a nice place to spend your leisure time.


FAQs

Are winnings in Iceland taxed?

No, winnings in Iceland are not taxed. Thus, the amount you win is solely yours, and you can decide what to do with the amount.

How do I know the best Icelandic bookmakers?

To know the top bookmakers in Iceland, you need to read through this guide and join one of our four top recommendations for Iceland.

Can I be imprisoned for gambling in Iceland?

No, you can’t be imprisoned for gambling in Iceland. This is due to a provision of the 2016 ruling in the European Union court.

When will gambling be legalized in Iceland?

Sorry, but we aren’t sure as of now. But there is no pressure from the government on the offshore bookmakers that are operational in large numbers. Therefore, punters have good places to spend their leisure time online.


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