Best Online Casinos - Iceland

In Iceland, online gambling has been prohibited for years. Or, should we say, while the industry appeared in the 2000s and evolved through the past two decades, with many European countries embracing it, in Iceland, it was never legalized. At the same time, players are welcome to register in international gambling lobbies and don’t have to be afraid to be prosecuted for doing so.

Gambling has a rocky history in Iceland. It was banned in the country in the 1920s, then re-introduced in the 1930s, only to be declared against the law once again a short while later. In the 90s, certain forms of wagering returned — these being lottery and sports betting, both regulated by the Financial Services Authority.

As we were writing this review, we heard that new bills were being developed. The intention of the country’s legislators is to finally embrace what online gambling offers, to develop a clear system of licensing and regulations, and to create a healthy and rapidly growing local market.

Statistics say that Icelanders are very fond of online casinos. In fact, per year, residents of the country contribute up to 5.6 billion Euros in gross gambling wins to international platforms. Out of the types of content, betting remains the most popular, followed by casino games. Iceland places 12th on the list of top 30 nations spending cash on online games. On average, an adult in the reviewed country spends up to 361 EUR per year.

The local currency of Iceland, Icelandic krona, is available in only 1% of online operators in our database that accept players from the country. This is less than 5 brands, including Bet365 and 1xSlots.

Alternatively, to ISK, we recommend Icelanders explore online operators accepting Euros. Popular and trustworthy platforms like Casoo, Guts, and CasinoLuck accept it, as well as 600+ other great brands. Plus, there is always an option to use crypto, be it Bitcoins, Dogecoins, Litecoins, or others. To mention a few out of great crypto-friendly places to bet and win, there is BitStarz and 1xBet.

When it comes to recommended payment methods, two of the most popular are Visa and MasterCard available across lots of lobbies, including an award-winning library of Leo Vegas. We can also recommend two e-wallets — Skrill and Neteller, available on 550+ websites.

In terms of payouts, e-wallets work much faster. Via verified accounts, you can expect wins to land in an account within 24 hours or less after they were claimed. With cards, it may take up to 3 workdays. The local banks won’t block financial transactions to and from casinos. Plus, gambling wins in Iceland are not subject to taxes. 

Icelanders are accepted in European regulated lobbies that host all the popular content, including new and older and established releases by Microgaming, Net Entertainment, Play’n Go, and Yggdrasil Gaming. This eliminates a big problem that many other niche markets like Australia and the USA have — players from these countries are limited to a selection of around 10 software developers. Iceland currently has no studios of its own that produce games. 

Players from the reviewed country truly enjoy slot machines. Classic reeled adventures are massively popular but Viking-themed slots are an even bigger hit. Our database has 100+ great releases, including Troll Hunters by Play’n GO, Vikings Go Wild by Yggdrasil Gaming, and Viking Clash by Push Gaming.

What’s really great about slot machines available to Iceland is that there are so many great bonus features to choose from. The list includes free spins, Wild variations, bonus rounds, Megaways reels, multipliers, and avalanche or tumbling reels. Payouts in such non-progressive games may vary from anywhere between 1,000x to 100,000x the initial stake.

Those of our readers from Iceland into live games can enjoy an assortment of live roulette, live blackjack releases, gameshows, table pokers, and baccarat. Plus, there are games unique to the European market, such as Andar Bahar and Teen Patti.