Venezuela Betting Sites
Online sports betting in Venezuela is popular for many reasons, the main one being a lack of available options for players. With just five live casinos, most players have to travel great distances to bet on sports and even then options are limited.
Offshore online sports betting sites offer you a wide variety of betting options and a broader range of games to bet. If you plan to play at an online sportsbook, make sure only to choose those that are licensed by a major online regulator. Some of those regulators include the U.K. Gambling Commission, the Gambling Supervision Commission in the Isle of Man and the Malta Gaming Authority.
International sportsbooks allow you to place any bet imaginable. Whether you are looking to make straight bets, point spread bets, moneyline bets or multi-game bets, you will be able to do so online.
You’ll find the best odds for sports betting online as well. Everything from standard fractional odds to more exotic betting odds like Malay and Hong Kong odds is available.
If you’re looking to stretch your deposit dollars, take advantage of deposit and welcome bonuses offered by sportsbooks. They often will match your initial deposit up to 100 percent, sometimes more. Learn more about these exclusive offers on the promotions page of your preferred sportsbook.
Is Sports Betting Legal in Venezuela?
Sports betting is legal in Venezuela but only at land-based casinos that are controlled by the Venezuelan government. However, there are only five casinos in the entire country, and a lot of sports betting is done in illegal underground casinos.
Online sports betting is a bit of a legal gray area in Venezuela. While gambling is only permitted in land-based casinos, no laws prohibit online sports betting. As such, many international sportsbooks take Venezuelan players.
At one point, there were at least two state-run online sportsbooks, but both have since gone out of business, probably because they were both deemed disreputable.
If you plan to play at an international sportsbook, make sure a primary online regulator licenses them. The best are those authorized by the U.K. Gambling Commission or the Isle of Man.
What are Popular Sports to Bet on in Venezuela?
Baseball and football are the most popular sports to bet in Venezuela. Baseball gets the lion’s share of bets with a lot of action on Major League Baseball and international competitions involving the Venezuelan national team.
Football is a favorite sport to play in Venezuela, and many like to bet the local professional leagues as well as international leagues such as the English Premier League. International competitions such as the FIFA World Cup generate a lot of interest.
Other sports that receive regular action include basketball, golf and motorsports. International sports leagues such as the NBA, NFL and NHL generate substantial interest. Combat sports such as boxing and MMA attract a lot of bets as well.
Do Bettors Have to Pay Taxes on their Winnings?
All gambling is subject to taxes in Venezuela. Horse racing and lottery winnings are taxed at 16 percent. All other forms of gambling, including sports betting, are taxed at 34 percent.
Since there are no laws in Venezuela about online gambling, one must assume that these taxes even apply to online sports betting. Overseas sportsbooks will not withhold taxes on winnings, so it is up to you to keep records and provide an honest accounting.
We recommend talking to your accountant or tax preparer about gambling taxes to ensure you comply with Venezuelan law.
How to Make a Deposit at a Sportsbook in Venezuela
Due to the lack of laws regarding online gambling in Venezuela, depositing funds on a sportsbook is a simple process. Most sites accept major credit cards as well as debit cards. Some banks may not permit gambling transactions due to gambling only being legal in live casinos. If that is the case, you will have to use an e-wallet or another payment processor.
If you decide to go the route of e-wallets, then we recommend using Skrill or Neteller to make your deposit. These are generally the most widely accepted. In some cases, you may be able to deposit using PayPal.
Other options for payments include the paysafecard and ecoPayz. The paysafecard is a prepaid credit card you load at local businesses and ecoPayz is a virtual credit card that’s accepted by many online gambling sites.
Some sites will also allow you to make direct bank transfers or use eChecks to make your deposit. Note that bank transfers may take up to 48 hours to become available.
Mobile Betting Options
Many sports bettors enjoy the convenience of betting online, and Venezuelan sportsbooks allow you to bet regularly on your smartphones and tablets. When looking for mobile betting options, your best bet is to stick with sportsbooks that offer browser-based betting.
Sportsbooks that are mobile-optimized will allow you to make the same bets with your mobile browser as you can with your PC. These sportsbooks are ideal because they allow the greatest access since all you need is a mobile web browser to place bets.
That’s not to say that mobile apps are not worth using, as they are. However, many standard mobile apps have reduced functionality compared with browser-based betting. They also are typically only available on iOS and Android devices.
If you’re betting on mobile, make sure to check out available promotions for mobile users. Sportsbooks offer exclusive mobile offers to promote mobile betting. Often, these can be used in conjunction with any other welcome or bonus offers presently provided. More information is available on mobile offers in the promotions section of the website.