Gambling in Norway runs under a state monopoly that limits players to mediocre options. Despite the fact that locals are generally not restricted from playing online, transactions with international brands are often blocked, making it practically impossible. Until now.
Norwegian Crypto Gambling Sites are the most effective way to escape the bland local market and get instant access to thousands of casino games, more betting markets with higher odds and instant anonymous transactions. Interested in finding the top crypto-friendly sites or just want to know more? Keep reading, as we will explain everything in depth.
The flexibility of crypto payments does not mean that all cryptocurrency gambling sites out there are worthy of your time. Our experienced team has filtered the top brands with valuable crypto gambling bonuses that Norwegian residents can activate. The list is consistently up to date, so you can always find new brands as soon as they launch.
Let’s start by saying that any wagers placed outside of the two licensed operators are technically illegal. Only Norsk Tipping and Norsk Rikstoto hold the Norwegian gambling authority license. What’s more, in June 2021, Norway’s ministry of culture revised the current legislation, trying to further implement restrictions on foreign operators. Regardless of these developments, gambling in Norway can still be done on offshore & international websites.
More specifically, crypto casinos & sportsbooks are arguably the most convenient alternative for Norwegian players. Especially since credit & debit cards have been completely banned for gambling transactions, and bank transfers are highly regulated. Crypto gambling regulations belong in the same grey area as other conventional offshore operators, but most crypto-friendly sites hold relaxed KYC requirements and support payments to & from anonymous crypto wallets. An upgrade even from e-wallets like Skrill & Neteller. Nonetheless, keep in mind the following characteristics before proceeding with any deposit.
Trending Brands in Norway
No of Cryptogambling Sites
Anonymous gambling sites
Provably fair casinos
Instant Withdrawal Sites
Stablecoin gambling sites
Apart from these generic tips, product-specific characteristics apply to casinos and bookmakers. Due to the competitiveness of the local market, Norwegian players are accustomed to first-rate gambling products & services. Do not settle for mediocre ones, just because they are crypto-friendly.
Norwegian crypto gambling facts
Crypto gambling sites that operate in Norway will hold an offshore license or none at all. Despite their low reliability, a Curacao or Costa Rica licensed operator retains a higher level of legitimacy than independent ones.
Prefer websites that support a wide variety of cryptocurrencies. The more options, the more flexible you will be.
Some crypto-friendly brands can display your account’s balance in NOK, as well as offer a fully translated website. Opt for such websites if you prefer a more localized experience.
Which is the best crypto casino in Norway
Norwegian gamblers sure do like their casino action. Data shows that in 2018, 48% of Norway’s millennials gambled, while 58% of them participated in lotteries. Thus, crypto casinos in Norway provide a quality product to attract knowledgeable players. We feature below the top casinos that offer 2,000+ slots from the top providers, multiple crypto bonuses and execute fast payouts.
Welcome bonuses are considered the most important by most players. And crypto casinos in Norway can offer some pretty lucrative deals due to the lower operational costs of cryptocurrency payments. Bonuses of NOK 2,000 are considered banal, as some crypto-friendly brands may offer packages of up to NOK 10,000 or even 5 whole BTC.
Even so, always be wary of the fine print in the bonus t&c’s, as they may hide unfavourable terms. And not only for the first deposit bonus but for every available promotion. To be on the safe side, read our Bitcoin casino reviews, which cover all the relevant details of an online casino. See also our checklist below.
Which are the best crypto Norway betting sites
While bitcoin bookmakers do not offer the same match-up limits as their casino peers, they hold other aces up their sleeve. As we have already mentioned, crypto payment operations translate to fewer third party fees and staffing costs for the brand. For that reason, crypto betting sites in Norway have the possibility to offer higher odds than their traditional counterparts, as well as weekly deposit boosts & free bets, that will activate only with crypto top-ups. Here are the top examples.
How to Correctly Gauge a Crypto Betting Site in Norway
Before jumping into crypto sports betting, consider the following. As a Norwegian, you might want to be able to wager on some of your favourite local sports. There are many crypto gambling sites that provide popular Norwegian winter sports such as speed skating, ice hockey, skiing, ski jumping and biathlon. Of course, regular sports like football and handball should also be a priority.
Inspect both the pre-live and live sections of the sportsbook. See if your favourite markets are available.
Calculate the odds offered. Don’t just look at the primary betting options, as most bookies lower the payout in secondary markets. Anything less than 95% is not optimal.
See what betting features are available. Full Cash Out and Live Streaming are essential nowadays, but Partial/Auto Cash Out, Bet-Builder and Edit-Bet really add to the mix.
Let’s move on to the juicy part. You have found the ideal crypto betting site or casino in Norway, but now it's time to top up your account. The first thing to take care of is to start an account at a crypto exchange platform. In Norway, all the popular options like Binance, Kraken and Coinbase are available, so we recommend you stick with the big boys. If you are feeling more patriotic, you can also opt for NBX, a local crypto platform that is also registered with the Financial Supervisory Authority of Norway. Then, just follow the steps below.
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.
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.
Transfer the cryptocurrency amount to your private wallet. Never make direct transactions between crypto exchanges & crypto gambling sites. Crypto exchanges may freeze such accounts.
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.
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.
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.
Hopefully, you will soon score a juicy slot payline or win a high stakes betslip. The payout process is quite easy, as you will just have to type your wallet’s address in the withdrawal option of the cryptocurrency you deposited with. But here comes the crucial question. Do I have to pay taxes on my crypto gambling winnings in Norway?
It is good to mention of few basic pieces of info before we dive into crypto-specific details*. According to the local legislation, Norwegian citizens have to declare winnings made in any other country. This applies to gambling sites as well. Winnings above NOK 10,000 are taxed at a 28% rate. The two locally authorized operators are excepted from this.
However, cryptocurrencies are classified as assets, and not currencies according to the Norwegian Tax Administration (Skatteetaen). So, to be on the safe side, you should also keep track of the value of your crypto capital. An appreciation or depreciation in value constitutes different tax events, depending on when you receive it, and when you exchange it for another currency, whether it is FIAT or crypto. The general guideline is that ‘if you buy, sell, mine, exchange or simply possess a cryptocurrency, you must include it in your tax return’.
Stay under the radar
Nevertheless, anonymous wallets & offshore crypto gambling sites with low KYC requirements are your allies in the simplification of the process above. Remember, once your crypto funds exit the regulated exchange, it is hard (but still possible) to track. Unless you transfer hundreds of thousands of dollars and proceed to conspicuous acts, you will be fine.
But, if you ever transfer back crypto funds to a regulated exchange, in order to cash them out for NOK, then you should report everything. Crypto exchanges are on their way to becoming fully regulated entities, and fiscal authorities keep a close eye on them. They will report any transfer above a certain threshold, so keep that in mind.
Crypto Gambling in other Nordic countries
The concept of anonymous gambling with cryptocurrencies is a topic of high interest for gamblers in neighbouring countries as well. For example, crypto casinos in Sweden allow players to avoid the unfair restriction of no bonuses on local sites. Likewise, Finnish crypto gambling sites go beyond their country’s state monopoly and protect against any possible negative reforms in the wider iGaming scene.
*Remember, this is meant to be a general overview of the current fiscal situation. Contact a tax professional for your financial inquiries, as errors may lead to significant losses & potential fines. We are not financial advisors.
Why should I prefer Norwegian crypto gambling sites
Why should I prefer Norwegian crypto gambling sites
The gambling legislation in Norway is quite strict, and it seems that there are no plans to alleviate it. Perhaps even the opposite. The best bet for Norwegian players currently is decentralised blockchain technology. FIAT transactions are too closely monitored. Cryptocurrencies that can be transacted anonymously & internationally between anonymous wallets, and decentralised gambling platforms appear to be the future. We recommend our Norwegian readers try out our crypto gambling websites, as they will allow you to circumvent any restrictions while providing a top-notch product.
Gambling in Norway is heavily regulated by Norway’s ministry of culture. Officially, only Norsk Tipping & Rikstoto, which are owned by the state can offer gambling products. However, players can opt for other European and offshore online brands, as authorities commonly do not persecute infractions.
As with online betting, you will have to deal with severe restrictions. The only legal online casino is Kong Kasino (operated by Norsk Tipping). The grey alternatives are other European online websites and crypto gambling sites.
It is treaded the same way as any FIAT currency. However, the tax implications are different, as cryptocurrencies in Norway are considered assets and not currencies.
There is not a single best one, as every player has different priorities. Look into our lists and read each brand’s review to get a good idea before you deposit anywhere.
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.