Crypto Online Casinos in Latvia

Crypto Online Casinos in Latvia

Crypto Online Casinos in Latvia

Online gambling has long been legal in Latvia (since 2006). Τhere are many locally licensed casinos accepting crypto deposits. However, they offer limited gambling products, and any winnings above €3,000 are taxed.

This is where crypto online casinos come into play in Latvia. As offshore entities, they are not regulated by the country’s licensing body, but they are not illegal either. And apart from tax-free winnings, which is ideal for high rollers, they offer unparalleled privacy and lightning-fast transactions. The benefits don’t end here, though, so keep reading.

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Legit Latvian Crypto Gambling Sites

Crypto gambling in Latvia is ideal in more ways than one. Firstly, Latvians will have access to bonuses worth considerably more than those found in conventional casinos. While Latvian-licensed sites tend to feature a couple of hundred games, crypto sites can support thousands from dozens of software developers. These, coupled with immediate transaction times, anonymity, and higher withdrawal limits, all make crypto gambling at the following casino sites worthwhile:

Casino
Rating
Min Deposit
Rollover
Bonus Code
% Percentage
Amount
#1
Vave Bonus
4.4/5
star star star star star
Cashback
$20
B x 40
NO CODE
100% Bonus Up To1 BTC
#2
Coins.Game Bonus
4.2/5
star star star star star
Deposit Bonus
$10
N/A
NO CODE
180% Bonus Up To$20,000
#3
BetPanda Bonus
4.3/5
star star star star star
Deposit Bonus
$10
x80
NO CODE
100% Bonus Up To1 BTC
#4
Duelbits Bonus
4.2/5
star star star star star
Rakeback
$10
special-rules
Special Rules
Exclusive Offer
NO CODE
Bonus Up To10% Rakeback +500FS
#5
Coinplay Bonus
4.2/5
star star star star star
Deposit Bonus
20 USDT
x40
NO CODE
100% Bonus Up To5,000 USDT
#6
Jackbit Bonus
4.1/5
star star star star star
Deposit Bonus
€50
x1
WELCOME
copy-icon
Bonus Up To100 FS
#7
22bet Bonus
4.2/5
star star star star star
Deposit Bonus
€1
B x 50
Exclusive Offer
CRYPTOTV
copy-icon
100% Bonus Up To€300
#8
Stake Bonus
4.4/5
star star star star star
Rakeback
$1
special-rules
Special Rules
Exclusive Offer
CRYPTOTV
copy-icon
Bonus Up To10% Rakeback
#9
Gamdom Bonus
4.0/5
star star star star star
Rakeback
$1
special-rules
Special Rules
NO CODE
Bonus Up To15% Rakeback
#10
Sportsbet.io Bonus
4.1/5
star star star star star
Daily Rewards
$1
special-rules
Special Rules
NO CODE
Bonus Up ToDaily Rewards
#11
BC.Game Bonus
4.3/5
star star star star star
Deposit Bonus
$30
special-rules
Special Rules
Exclusive Offer
NO CODE
120% Bonus Up To$20,000
#12
Kineko Bonus
4.1/5
star star star star star
Deposit Bonus
$20
B x 35
NO CODE
100% Bonus Up To$100 + 200FS
#13
Rocketpot Bonus
4.0/5
star star star star star
Deposit Bonus
$25
x35
NO CODE
100% Bonus Up To$5,000
#14
Mystake Bonus
4.2/5
star star star star star
Deposit Bonus
$20
x30
NO CODE
170% Bonus Up To$1,000
#15
Goldenbet Bonus
4.1/5
star star star star star
Deposit Bonus
$20
x35 in Slots
NO CODE
100% Bonus Up To$500
Bookmaker
Rating
Min odds
Min Deposit
Rollover
Bonus Code
% Percentage
Amount
#1
Vave Bonus
4.4/5
star star star star star
Cashback
2.00
$20
B X 5 (Doubles)
NO CODE
100% Bonus Up To1 BTC
#2
Coins.Game Bonus
4.2/5
star star star star star
Deposit Bonus
N/A
$10
N/A
NO CODE
180% Bonus Up To$20,000
#3
BetPanda Bonus
4.3/5
star star star star star
Deposit Bonus
-
$10
x80
NO CODE
100% Bonus Up To1 BTC
#4
Duelbits Bonus
4.2/5
star star star star star
Freebet
1.50
$10
B X 5
NO CODE
100% Bonus Up To$100
#5
Coinplay Bonus
4.2/5
star star star star star
Deposit Bonus
1.60
20 USDT
x40
NO CODE
100% Bonus Up To5,000 USDT
#6
Jackbit Bonus
4.1/5
star star star star star
Freebet
1.30/selection (trebles)
€20
special-rules
Special Rules
NO CODE
100% Bonus Up To€100
#7
22bet Bonus
4.2/5
star star star star star
Deposit Bonus
1.40/selection (Trebles)
€1
Β x 5
Exclusive Offer
NO CODE
100% Bonus Up To€122
#8
Stake Bonus
4.4/5
star star star star star
Rakeback
-
$1
special-rules
Special Rules
Exclusive Offer
NO CODE
Bonus Up To10% Rakeback
#9
Gamdom Bonus
4.0/5
star star star star star
Rakeback
$1
special-rules
Special Rules
NO CODE
Bonus Up To15% Rakeback
#10
Sportsbet.io Bonus
4.1/5
star star star star star
Daily Rewards
-
$1
special-rules
Special Rules
-
copy-icon
Bonus Up ToDaily Odds Boost
#11
BC.Game Bonus
4.3/5
star star star star star
Deposit Bonus
-
$30
special-rules
Special Rules
Exclusive Offer
NO CODE
120% Bonus Up To$20,000
#12
Kineko Bonus
4.1/5
star star star star star
Deposit Bonus
1.50
$20
D x 10
NO CODE
100% Bonus Up To$150
#13
Rocketpot Bonus
4.0/5
star star star star star
Deposit Bonus
-
$25
x35
-
copy-icon
100% Bonus Up To$5,000
#14
Mystake Bonus
4.2/5
star star star star star
Deposit Bonus
1.40/selection
$20
x10 in Doubles
NO CODE
100% Bonus Up To$500
#15
Goldenbet Bonus
4.1/5
star star star star star
Deposit Bonus
1.4/selection
$20
x10 in Trebles
NO CODE
100% Bonus Up To$500
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Top-Rated Crypto Betting Sites in Latvia

It isn’t just Latvian casino fans who can get a slice of the action. Bitcoin betting in Latvia is also possible, with crypto sportsbooks giving you a broader array of markets and selections and generally higher odds than you’d see in Fiat bookmakers. Throw in the faster withdrawal times and higher withdrawal limits mentioned earlier, and it’s very lucrative to play at any of the following Latvian crypto-betting sites:

Bookmaker
Rating
Crypto Coins
Highlights
% Percentage
Amount
#1
Vave
4.4/5
star star star star star
Cashback
Bitcoin logo
Ethereum logo
USDT logo
check-icon
Over 8 Coins
check-icon
Up To 96%+ Odds
check-icon
Over 1,000 Daily Live Events
check-icon
4+ Fiat To Crypto Gateways
100% Bonus Up To1 BTC
#2
Coins.Game
4.2/5
star star star star star
Deposit Bonus
Bitcoin logo
Ethereum logo
USDT logo
check-icon
15+ Popular Cryptos
check-icon
97% Odds In Top Leagues
check-icon
No KYC Required
check-icon
Easy Signup
180% Bonus Up To$20,000
#3
BetPanda
4.3/5
star star star star star
Deposit Bonus
Bitcoin logo
Ethereum logo
USDT logo
check-icon
Over 10 Coins
check-icon
Livestreaming
check-icon
40,000+ Monthly Pre-game Events
check-icon
Bitcoin Lightning Accepted
100% Bonus Up To1 BTC
How to pick the ideal crypto bookie?

Scrutinise the sportsbook and check if it offers the sports and markets you like to bet on. For example, you might want to wager on specific specials in ice hockey or basketball, which might not be there. And check the odds, too, as they might not be ideal.

When searching for a good bookmaker, look for features such as responsive customer service, a variety of sports and betting markets, a secure cashier system, and a promotions page with worthwhile offers. Always calculate any wagering requirements before accepting a bonus.

To determine the Bitcoin bookmakers with the top payouts for matches, compare the odds of a given event across platforms; however, this strategy is both time-consuming and requires basic knowledge of the game.

Vave Logo
Casino
Vave
4.4/5
star star star star star
YEAR EST
2022
check-icon
Over 8 Coins
check-icon
70+ Providers
check-icon
Over 700 Bonus Buy Games
check-icon
4+ Fiat to Crypto Gateways
Pragmatic Play Pragmatic Play
No Limit City No Limit City
NetEnt NetEnt
100% Bonus Up To 1 BTC
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Crypto Gambling in Latvia – How to Deposit

For starters, you are going to need a crypto wallet and an exchange to buy, sell or trade cryptos. Just shy of ten exchanges are popular with cryptocurrency users in Latvia. Chief amongst these is Binance, with Kraken not far behind.

You can purchase cryptos using the euro or other cryptocurrencies. Exchanges operating legally in Latvia are monitored, so these offer less anonymity than, say, less established exchanges. Of course, there is an inherent risk involved with those, so we’d always recommend the former. Having acquired cryptocurrency in your wallet, you can head to the casino or sportsbook’s cashier page to deposit according to the on-screen instructions found there.

Step-By-Step Process
Crypto Online Casinos in Latvia
Crypto Online Casinos in Latvia
Step-By-Step Process
1
Start an account at a crypto exchange. Fund it via debit card, bank transfer or any other local option. Acquire the cryptocurrency that you are going to use as a gambling bankroll.
2
If you are not in a hurry, limit orders hold fewer fees than market orders. Sometimes, it is better to acquire the proprietary coin of the exchange first, as trading pairs with them cost less.
3
Transfer the cryptocurrency amount to your private wallet. Never make direct transactions between crypto exchanges & crypto gambling sites. Crypto exchanges may freeze such accounts.
4
Head over to the gambling site’s cashier section. Click on the relevant crypto method. The wallet’s address will appear. Copy the address and paste it into your wallet’s send function. QR code scans are commonly available too.
5
If a brand does not support crypto-only wallets, watch out for the exchange rate. Any spread above 1% of the current market rate is too much.
6
After a few seconds or minutes, your deposit will settle. This depends on the cryptocurrency and the number of block confirmations required by the operator.

Earlier, we touched on Latvia’s laws regarding the taxation of cryptocurrencies. Let’s look at that in more detail in the section below.

Gambling Tax for Crypto in Latvia

Latvia is a country that splits its rules when it comes to taxation. Firstly, any winnings you acquire worth the equivalent (or less) than €3,000 are tax-free. If you win more than this figure when betting, then you’re required to declare that as part of your declaration, making it liable to be subject to income tax of up to 23%. This is the rule when it comes to Latvian-licensed crypto casinos and sportsbooks, at least.

One of the primary reasons why Latvia regulates cryptocurrencies and permits its state-licensed sites to accept crypto deposits is so that it can tax profits made on them. At least they are blunt about it. The Latvian Finance Ministry taxes any profit made from cryptocurrencies as a capital gains tax, so expect a 20% duty on anything you make.

This is still smaller than the flat income tax rate on winnings and substantially less than the 32% applied to crypto profit in nearby Poland and other EU member states. It is worth noting that financial transactions (and cryptocurrencies profits are deemed that) are exempt from VAT.

It is also worth pointing out that you’re only liable to pay tax on cryptocurrencies when you sell them for profit. Keeping them in your wallet (and not trading them) means that you can avoid paying taxes on them – for the time being. If you maintain a low profile, all your winnings will be tax-free.

Remain Anonymous

There is a rumour that Latvian ISPs may report you if they detect activity on unregistered gambling sites. However, we have not been able to confirm them. But even then, it will be difficult for the authorities to detect crypto transactions.

However, to be 100% safe, you can utilise a VPN service, but check beforehand if the gambling site you are about to register with is VPN-friendly.

Do Other Countries Accept Gambling with Crypto?

If we take a quick look at the neighbouring countries, we can see that things don’t change much. Nonetheless, cryptocurrencies seem to breathe new life into these markets. Crypto gambling sites in Lithuania started trending after the restricting regulation left players with only a handful of brands to choose from.

Conversely, crypto online casinos in Estonia raised the bar for locals, as they combined less vetting KYC procedures with a high-quality casino and sports betting product. The grey approach held by the neighbours plays a significant role in this.

Our Final Verdict on Crypto Gambling Sites in Latvia
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Our Final Verdict on Crypto Gambling Sites in Latvia

Despite having a solid regulated online gambling scene, the tax on winnings above €3,000 is a deal-breaker for many high rollers. And even if you are a recreational player and never surpass this threshold, crypto gambling sites available for Latvian residents offer much more than tax-free winnings.

Thousands of slots from all the big-name studios, regular promotions for every type of player, and sports markets that can reach up to 98%+ are valid enough reasons to try out our recommendations. We guarantee that you will not be disappointed.

FAQs

Yes. The Latvian Lotteries and Gambling Supervisory Inspection started licensing online casinos in 2006. Even crypto casinos which aren’t licensed by that authority can still operate in a grey zone, and it is perfectly legal for you to play at those sites.

That depends on who you ask. Some will say that Latvian-licensed crypto casinos are better suited because they are state-sanctioned. However, there are many Latvians who prefer offshore sites, as they are less hamstrung by strict regulation and offer arguably better services and features.

In theory, yes. They should be subject to the flat 23% tax rate used for income tax. However, that law is only for Latvian-licensed sites, so you could argue that the smaller 20% crypto capital gains tax will generally take priority instead.

Bitcoin and Ethereum are the main ones. It is worth noting that state-licensed sites accept far fewer cryptos than Latvian sportsbooks and casinos based offshore.

Cryptogambling.tv is the first site to fully empower crypto iGaming brands. Decentralized digital currencies are the answer to the restrictions that gamblers face worldwide. Your funds, your rules. At the same time, we accept no compromises, and promote only legitimate websites. Trust our expertise, become an avid crypto gambler and maximize your bankroll’s value.
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