Online Gambling in Venezuela

Last Modified on 12/17/2018

Find the Best Bookmakers in Venezuela

The Bolivarian Republic of Venezuela, widely known as Venezuela, is one of the South American countries with the fastest growing number of gamblers. Venezuelan punters can bet on sporting events through local and foreign bookmakers in Venezuela, while the licensing regime for gambling companies is quite restrictive.

Venezuela’s bettors tend to look for foreign online bookmakers as they usually offer better odds than the local ones. You should know that more than 450 online bookmakers welcome bettors from Venezuela and over 90 of them are offering their services in Spanish, the official language in Venezuela.

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Is Betting Legal in Venezuela?

Venezuela punters are legally allowed to place bets only through licensed sportsbooks that operate in the five local casinos across the country. Only two gambling operators have been granted licenses to operate online in Venezuela. The local authority that governs all gambling activities is the Comision Nacional de Casino y Salas de Bingos.

As sportsbooks in Venezuela offer less advantageous odds compared to their foreign counterparts, many Venezuelan punters are using the services of foreign-based online bookmakers in Venezuela. There are no reports of gamblers being prosecuted for placing wagers with foreign online bookmakers in Venezuela, so it is considered safe to bet online in Venezuela.


Betting Sites in Venezuela

Online gambling is gaining popularity in Venezuela as the local sportsbooks cannot offer competitive odds and Venezuelans seek to complemented their falling income through winnings from sports betting.

International bookmakers offer services to Venezuelan bettors by covering virtually any sport and any league available. A good number of reputable bookmakers are targeting punters from Venezuela by offering their services in Spanish.

You can find numerous online betting sites that also cover Venezuela sports events as well as a growing number of mobile betting sites that accept online bets from Venezuela. These new betting services usually offer additional benefits when you sign up or deposit funds with them for the first time.


Betting Bonuses for Venezuela Gamblers

Many online bookmakers offer deposit and welcome bonuses to bettors from Venezuela. You can get sign-up bonuses, risk free bets upon first deposit as well as bonuses by mobile betting services.

Some sportsbooks will match 100% of the amount of your first deposit. Others may offer even more lucrative betting bonuses. Check with each bookmaker to find specific bonuses for Venezuela gamblers or first time users.

Various betting promotions are available on a regular basis with some sportsbooks offering specific promotions for Venezuelan gamblers only.


Sports to Bet in Venezuela

The most popular bets the Venezuela sportsbooks are accepting include baseball and football bets. Baseball and football are by far the most popular sports in Venezuela. Other popular sports are basketball, golf and motor sports. Combat sports and martial arts are traditionally very popular across South America and Venezuela is not an exception.

In fact, you can bet on any sport or sporting event in Venezuela as long as you place your wagers online. Sportsbooks that offer odds for Venezuelans cover international sports leagues such as the MLB, NBA, NHL and NFL. Bets on all major football leagues are available as well as on competitions such as the Copa Libertadores and the Champions League.


Payment Methods for Betting in Venezuela

Venezuela bookmakers are accepting major credit and debit cards as well as electronic bank transfers to deposit money. You should be aware that some banks might not permit you to transfer money for gambling in Venezuela as only the local casinos are allowed to accept sports bets. Thus, you may prefer to use a VISA or MasterCard to deposit money for sports betting in Venezuela.

These restrictions on gambling are the reason for many Venezuelan gamblers to prefer e-wallets to deposit funds for wagering. Popular online payment methods include services such as Neteller, Skrill and PayPal. Prepaid cards are another option to deposit money for gambling in Venezuela with Paysafecard being one of the popular ones.


Do I Pay Taxes on Gambling Winnings in Venezuela

Venezuela is collecting taxes on winnings from any betting activities. Winnings from horse racing and lottery are subject to a 16-percent tax. You pay tax equal to 34 percent of your winnings from sports betting.

Foreign online bookmakers, however, do not apply these taxes to the winnings by Venezuelan bettors. It is up to you to decide whether to declare your winnings from sports betting and respectively pay taxes on them.


Best Betting Sites for Venezuelan Gamblers

As betting at foreign sportsbooks is not illegal in Venezuela and since local bookmakers offer poorer odds compared to international sportsbooks, you may decide to explore offshore bookmakers while betting in Venezuela.

As we said, you can find many advantageous offers and bonuses for Venezuelan punters. We advise you to select among bookmakers that are licensed by the leading gambling jurisdictions and avoid obscure online sportsbooks. This way you will get protection against fraudulent odds and your winnings will be protected as well.

Many world-leading sportsbooks are targeting bettors from Venezuela, so you have plenty of choices for online betting in Venezuela. Check which bookmakers are offering the best odds and the highest welcome and deposit bonuses for Venezuela gamblers. You can also sign up with more than one mobile or online bookmaker that is offering promotions to bettors from Venezuela.