Which Are the Best Online Betting Sites in Venezuela?
Venezuela is one of the few South American countries that offer a regulated market. As expected, many of the worlds top bookmakers in Venezuela provide a safe destination for sports betting. However, the best betting sites in Venezuela are limited, therefore summaries for the top 6 bookmakers are provided below. But before that, you can read some interesting facts about online gambling in Venezuela.
- Population: A country located off the northern coast of South America, Venezuela has 23 states and a total landmass of 916,445 km2. Based on the most recent census data, the number of people living within its borders is 28.44 million.
- Active players: While gambling has been legal in Venezuela since 1997, its regulator does not release data on active players. However, based on estimations and its population favouring gambling to supplement income, over 40% are believed to actively place bets with legal, illegal and offshore betting sites. That means the active players are around 3.65 million.
- Currency: The official currency in Venezuela is the Venezuelan Bolívar (VEB). It has been the national currency since 1879 and is ranked as the worlds second lowest valued currency.
- Regulated gambling products: The Venezuelan gambling market currently has multiple regulated gambling products. These include sports betting, fantasy sports, casino games, lottery, bingo, and slot machines.
- Operator types: There are two main operators in Venezuela, land-based and offshore foreign operators. Both land-based and offshore operators are required to be licensed by the state, but due to limited licensing, most online operators are permitted to operate without restrictions.
- Designated authority: The National Commission for Casinos, Bingo Halls, and Slot Machines is the designated authority responsible for overseeing gaming in Venezuela. It is also responsible for issuing licenses, regulating and ensuring.
- Status: The status of gambling in Venezuela is rather complicated as the country continues to face steep inflation and employment instability. This has seen a rise in the number of people turning to gambling activities as a hope to increase income. Historically, this is resultant on a lack of enforcement against illegal betting houses, which the government seems content to turn a blind eye.
Top Rated Bookmakers in Venezuela
Regarded as one of the best Venezuelan bookmakers, 22Bet is known for its finely tuned sportsbook and casino. Owned by TechSolutions Group N.V., the company features high odds and guaranteed payouts on successful bets. That has led to the bookie developing long-term relationships with its customers. More importantly, it has seen the continued development of its sports betting platform through the implementation of player-friendly features.
However, what really sets 22Bet apart is its individual approach to every player. The high level of professionalism is a welcome sight, and with confidentiality and security, it makes it casino even more attractive. In this respect, 22Bet includes bingo, esports, live dealer games and a substantial library of slots.
- Huge selection of events
- Excellent variety of player-intuitive features
- Large results and statistical database
- Live streaming is not an available feature
1xBet has developed itself into one of the worlds most successful online bookmakers. Established in 2007, it operates in over 60 countries and includes coverage for some of the worlds most popular events. The road to glory was fueled by 1xBet delivering the best odds, and likewise the best betting features. Many of those features are considered the best in the industry, with in-play, live streaming being the two most predominant.
Along with the features offered to sports punters, the 1xBet casino is arguably one of the best online. It includes thousands of options for slots, table games, and progressive jackpot games. However, as valuable as that is, the options for bingo, poker, live casino and virtual sports is just as impressive.
- Superior cover for international sports markets
- Excellent variety of cryptocurrency payment options
- Numerous player-friendly features
- Website can be challenging to navigate
The name Bet365 is synonymous with quality, and its reputation for excellence and integrity speaks for itself. With more than 20 years of experience, few other bookmakers have amassed a loyal following like Bet365. A major contribution to their success is their professionally presented interface and the large variety of sports covered.
In addition, Bet365’s ability to introduce new features makes it one of the worlds top international bookies. That has resulted in the company adding complementary options such as bingo, poker, and a live casino. It has also resulted in an increase of Venezuela-friendly mobile solutions, payment methods and support options.
- Superb coverage for more than 28 markets
- Competitive features and betting odds
- Online casino, poker, and live casino games
- Some features are unavailable in Venezuela
Another of the top betting sites in Venezuela, LeoVegas is best known as a casino provider and less for their sportsbook. However, by bookmaking standards, LeoVegas checks the right boxes and is more than capable of competing in the big leagues. Featuring over 30 sports types, the focus towards live betting is evident. Along with a variety of upcoming events, LeoVegas offers odds on international events like the Premier League.
While the sportsbook has several player-minded features, the best of those is focused on the weekly live offers. These afford punters the opportunity to maximise results through a series of exclusive promotions. Coupled with the loyalty program offered by LeoVegas and their casino punting opportunities, punters have the best of both worlds.
- Over 30 international sports markets
- Competitive live betting odds
- Offers Venezuelan-friendly payment methods
- Live streaming is not available
One of the few bookmarks to have survived since opening in 1997, Marathonbet is a licensed Venezuelan bookmaker. As a licensed Venezuelan bookmaker, Marathonbet brings together the best in pre-match and live betting. The sportsbook comes equipped with almost 30 sport types and offers a navigationally-friendly layout.
As a multi-jurisdictional operator, punters have the option to punt on virtuals, esports, live dealer and casino games. Along with favourable odds and access to results, bettors can avail a wide range of statistics, services and mobile apps. All are well-laid out in an easy-to-navigate format and include multiple promotional opportunities.
- Multiple betting options
- Favourable betting odds
- Venezuelan-friendly payment methods
- Does not offer a welcome bonus for the sportsbook
As an operator who proudly accepts players from Venezuela, SpinSports is well on its way to becoming a player-preferred destination. Initially known for their sportsbook, the addition of SpinSports has resulted in coverage for over 18 markets. One of its most appealing qualities is its superiorly designed interface. This allows punters to navigate to scheduled sporting events rapidly, view the latest odds and post bets. Likewise, the inclusion of Spin Specials and features such as mobile compatibility and early cash outs make it a top contender.
However, the addition of in-play betting, live casino betting and a substantially populated casino adds to the value delivered at SpinSports. Casino-minded bettors will be enticed by a large selection of casino games and an even larger selection of video slot. Moreover, they will find all sports and casino games to be mobile compatible and promotionally generous.
- Large number of weekly fixtures
- Excellent variety of casino games
- Generous sign up bonuses
- Does not cryptocurrency payment methods
Important Things to Know About Betting Sites in Venezuela
There are many important things to know about betting sites in Venezuela. For the most part, the majority of Venezuelan gambling sites offer a fantastic alternative to traditional gambling establishments. However, there is some information that will help Venezuelan’s who are new to betting online.
- Betting Environment
The Venezuelan government has made it clear it supports regulated gaming, as evident by its legalisation of multiple forms of betting. While there remain problems relating to illegal gaming houses, the betting environment in Venezuela is favourable.
Competition will always be a reality in any regulated market, and Venezuela is no different. With land-based gaming, the competition can be quite aggressive but limited due to financial resources. Online competition is the stronger of the two and is the better option for Venezuela punters.
The overwhelming majority of operators, with the exception of licensed land-based operators, in Venezuela are located offshore. While there are many land-based operators, most are local and less professional than established online betting companies.
- Active Players
As previously stated, the Venezuelan government does not release active player data. Unfortunately, data relating to active players is only an estimation based on current social behaviour studies. In this respect, 40% of the population is estimated to regularly engage in gambling related activities.
- Key info for Venezuelan Players
The main information Venezuelan players need to focus on is to ensure they are punting with licensed bookies. As the illegal gambling industry is substantial, Venezuelan’s who punt with licensed and regulated online bookies are protected.
- Gambling Taxes and Players Safety
In a country that regularly experiences corruption and economic instability, gambling taxes are a much-needed source of income. Resultantly, gambling winnings in the country are taxed at a rate of 34%, while lottery taxes are 16%.
Sports Betting in Venezuela: An Overview – How We Choose the Best Betting Sites
With gambling being legal in Venezuela since 1997, choosing the best betting sites can be challenging at the best of times. However, we get the job done by using a proven system to evaluate and filter out less favourable betting sites. This process is something we have fine-tuned over the years and includes the following:
- Investigating the bookmakers’ reputation
- Evaluating the betting markets
- Reviewing and comparing their odds
- Verifying what betting features are offered
- Look closely at their alternative gaming options
- Testing and rating their customer service
- Evaluating their banking options
- Test and assess their mobile options
What Kind of Odds Format is Used in Venezuela?
Such as it is in the rest of the world, Venezuela bookmakers favour the three most common odds formats, decimal, fractional and American. However, depending on the bookies international appeal, it may accommodate other odds formats, such as Indonesian and Hong Kong.
Available Betting Markets in Most Venezuelan Bookmakers
Since bookmakers attract a wide audience with diversifying interests, Venezuelan’s enjoy a liberal selection of betting markets. Generally, bettors will have access to hundreds of markets and the option for dozens of prop bets. This is especially prevalent when punting on the nations favourite sport, football.
Ultimately, the favourable laws in Venezuela force the best sites for betting in Venezuela to focus on the user experience. Most betting sites will accomplish that by implementing menus and other call to action controls. This lets users focus on the entertainment value by being able to place bets efficiently while simultaneously viewing results unabated.
Bonuses and Promotions for Venezuelan Bettors
Bonuses and promotions are one of the first opportunities bookies have to make an impression on prospective players. Considering they are constantly facing stiff competition, these often focus on free bets and new player offers.
Similarly, it is also the one opportunity bookmakers have to retain a customers interest. By offering a variety of promotions, the customer experience is enhanced, as is the potential profits for customer and bookie. As such, they will identify offers via a promotion page so you can customize your experience based on the promos available.
Live Betting, Live Streaming & Cash Out Features
One of the best Venezuela betting tips punters can follow is to take advantage of the opportunities from live betting. This is one of the better ways to punt, not only for the entertainment value but for the increased odds potential. As often is the case, an increasingly large number of bookies incorporate live streaming into their live betting platforms. It is also common they’ll make available the option for early cash out to further enhance the options punters can avail.
Online Casinos in Venezuela
Online casinos in Venezuela are legal and the best option for punters who prefer casino gaming. By far, they offer a far greater level of regulatory oversight, accountability and selection of games. In addition to the above, online casinos offer Venezuelans superior payouts when compared to land-based gaming. This is one of the attractions of punting with an online casino, and likewise, regulations ensure their deposits are safe. As such, whether playing table games, slots, poker, bingo or scratchcards, the entertainment value is second to none.
Available Methods for Withdrawals and Deposits To Punters In Venezuela
Like other South American markets, Venezuelan punters have various payment methods they can choose from when depositing or withdrawing. Generally, they will include a selection of debit cards, credit cards, e-wallet and cryptocurrency methods. The easiest way to determine the available methods is by viewing each bookmaker’s payment options.
However, it is important to understand that not every operator will include cryptocurrencies. Likewise, the minimum transaction amounts will vary from operator to operator, as will processing times. That said, they generally are reasonable and consistent with other jurisdictions.
Mobile Betting and Betting Apps
Mobile betting is always at the forefront of technology and is one many Venezuelan punters prefer for punting. The flexibility and availability of betting apps and mobile compatible websites make the process of betting uncomplicated. More importantly, it offers a safe and reliable point of access that is customizable for both Android and iOS users. Most betting sites offer mobile betting sites or apps, and some include options for both.
Safety and Security
Safety and security are always prevalent when punting with online sportsbooks or casinos. It is the basic minimum requirement for licensing and is paramount for punters to feel safe with the information they share. As such, betting sites employ a variety of measures such as encryption, secure socket layering, and firewalls, to name a few. These provide more than adequate protection, and moreso, they prevent unwanted access to personal information.
Is the Customer Support Good Enough for Venezuelan Players?
Customer service for Venezuelan players is identical to the type of support received by any other players. For most, the options will include access to frequently asked questions, live, email and telephone support. The quality is uncompromised as most sites offer experienced customer support in Spanish.
Is sports betting legal in Venezuela?
Yes, there are no laws prohibiting sports betting, thereby making sports betting legal in Venezuela.
Can you bet online in Venezuela?
Yes, you are welcome to bet online in Venezuela. This includes online casinos, sportsbooks, fantasy sports sites and others.
What are the best online bookmakers?
In our opinion, the best online bookers are licensed, reputable, and owned by established betting companies like 1xBet or Bet365.
What is the best sports betting site in Venezuela?
The best sports betting site in Venezuela based on player feedback is 22Bet.
Do Venezuelan betting sites accept Petro cryptocurrency?
Yes, some Venezuelan betting sites accept Preto cryptocurrency. If accepted, it will be shown under the list of available payment methods.
Which is the best bookmaker for punting on football?
Based on the number of events covered, the best bookie for punting on football is Bet365. In addition, Bet365 offers some of the best odds for local and international football matches.
What are the most popular sports in Venezuela?
The most popular sports in Venezuela are football, basketball and baseball.
Will I have to pay taxes on winnings?
Yes, Venezuelans are taxed at a rate of 16% for horse racing and lottery winnings and 34% if winnings are resultant from playing casino games.
Venezuela is home to 14 gambling establishments in 13 different cities. The largest with over 330 slot machines, 28 table games and 9 poker games is the Crowne Plaza Maruma Hotel & Casino.
While the Venezuelan government legalized gambling, it only issues licenses for dog racing, horse racing, bingo halls and the national lottery. Even though Spanish is the national language in Venezuela, most gambling establishments offer English speaking dealers.
Are There Any Restrictions for Venezuelan Players?
Due to the climate and nature of gambling in Venezuela, players tend not to experience many restrictions. For the most part, they can play unrestricted without fear of being denied access to the type of games they want to play. Furthermore, with the flexibility afforded in terms of payment options, they can punt with confidence winnings will be paid promptly.
Considering Venezuela’s gambling laws are unrestrictive, it is surprising the country struggles with controlling the illegal gambling industry. The good news for Venezuelans, though, is that the legal options outweigh the bad. In this respect, the options are excellent and provide accountability for both land and online betting. However, the better of the two is online betting sites such as Bet365, 22Bet or 1xBet. Neither are influenced by political motives or associated with criminal organizations and for Venezuelan’s, that is invaluable.