The bookmaker market in Venezuela, despite its limitations, is very popular. The economic situation in Venezuela and the legislation in force caused many operators to move away from the country, however, there are still operators willing to accept Venezuelan players.
Most of them are international bookmakers and offer excellent online betting platforms. Find the best sports betting sites in Venezuela for 2023 here.
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In 2011, a national Gambling Law came into force that declared all forms of gambling legal in all regions. If a national authority grants an operating license for a commercial establishment, it could incur illegality if it does not comply with the procedure established for it; for example, in terms of urban control, since it is the responsibility of the local sphere or when there is no license to carry out economic activities. If the case of a gaming house (bingo or casino) is taken, the approach can be better understood.
The Constitution of the Bolivarian Republic of Venezuela (CRBV, 1999) assigns to the National Power the legislation on lotteries, racetracks, and betting in general, corresponding to the National Assembly to approve the normative texts in reference to these matters, according to the constitutional procedure.
On the other hand, the same Fundamental Charter allows the municipality, within the list of its own income, to tax the activity of legal games and bets. This means that the municipal councils can approve ordinances in this sense without implying interference between both powers.
Now then, since the games and bets generate enrichment that has their origin in the fortuitous gains, this leads to coexistence with the National Power, since it is incumbent upon it to tax them; such is the case of the Income Tax and the Tax Law on Games and Chance (2007).
The Income Tax Law (2007) establishes a tax for games and bets, imposing the obligation on the payer to deliver to the taxpayer, together with the payment of the winnings, a receipt stating the total amount of the winnings, and the detained tax. In the same act, it will deliver to the taxpayer the voucher of the respective withholding; In the same way, those responsible for paying said profits must pay the amount of the withholding to a national fund receiver on the next business day to the day on which the tax was received. The Organic Law of Municipal Public Power (LOPPM, 2010) develops postulates about urban control or local taxation.
Is Online Sports Betting Legal in Venezuela?
Yes, it is totally legal to play or participate in sports betting or any of the services offered by it within Venezuelan territory, as long as they are attached to the laws and jurisdictions that govern it.
In the following section, we must explain the quality criteria of the betting providers in more detail. There are several things that all Venezuelan bettors need to consider before joining a sports betting site in Venezuela. Based on the characteristics, you can easily assess or rate the bookmakers yourself.
Safety comes first in every bookmaker comparison. Sports betting providers that have an existing license are a must. All licenses are available and can also be seen as a security feature. The majority of companies have EU licenses, mainly from the Malta Gaming Authority.
The reputation of the company also includes the business background. There are quite a few online bookmakers backed by listed companies. The additional control function of the financial supervisory authority ensures further confidence.
We don’t want to forget that several top betting providers are also active in the sponsoring area. Clubs and associations are supported. There is almost no football club today that cannot count a bookmaker among its own circle of sponsors.
If you are looking for reputable betting providers to compare, you should also look at player and data protection. Gambling addiction prevention must always come first, before the economic interests of sports betting sites in Venezuela. Player protection usually begins with a self-test on the website. In the lobby, customers can then set the individual bet and deposit limits. The self-selected limits can only be lifted after a waiting period but can be tightened in real-time.
The data protection regulations should be published in detail and transparently on the website for future reference. Everyone should know what is and is not being done with their personal information. Technical data protection is usually guaranteed by bookmakers through high-quality SSL encryption, which ensures the necessary transmission security. Data protection is very often verified externally, for example by TÜV, McAfee or Norton. The checkout areas often carry a PCI security certificate.
The portfolio should contain the right betting opportunities for everyone. If you look at the sports, in Venezuela, the king is of course football, closely followed by baseball. The majority of users play football bets. It is important that as many relevant matches as possible can be found on offer worldwide.
Of course, it starts with the top divisions in Latin America, as well as European leagues, such as English, Italian, German, and Spanish football. Internationally, the games of the national teams as well as the Champions League, the Europa League, and the UEFA Conference League are at the top, including Copa Libertadores. The top betting providers have 80 to 100 countries on the screen for football, from which two to four leagues or competitions are usually offered.
Sports such as tennis, ice hockey, basketball, handball, and volleyball, which are particularly popular at sports betting sites in Venezuela, can be found behind football bets. It is also important here that all known leagues can be found in the portfolio.
However, it is not just the breadth of the range of bets that is important. The depth is just as important. All known betting markets should be playable. The best betting providers have several hundred betting options per match to choose from in the relevant football leagues.
The betting features ensure your flexibility when betting. There are even online betting providers where you can change bets placed afterward. You can add new games, delete specific encounters or adjust the stake.
The bet builders are very appealing. You can combine several markets in a game into an individual combination bet. There are even some sports betting sites where the Bet Builder feature can be extended to multiple games.
A very important function that no good sports betting provider should be without is the cash-out. You can buy back your betting slips early in order to a) collect your winnings or b) minimize your losses. The more frequently the cash out is offered by the bookmaker, the better.
It is relevant that you also find an extensive variety of bets live in Venezuela, both in terms of breadth and depth. Best bookmakers can almost project a mirror image of the pre-match offers live. Football and tennis stand out even more clearly from the live betting programs.
It is also relevant that the providers work live with scoreboards from which you can read the statistics of the current game. The information is important to make a quick live betting analysis.
Some sports betting sites in Venezuela then add that certain something with the live streams. You can watch top-class sports from all over the world live, for free, of course. You see events that are not available on free TV in this country. For example, we think of football matches from Europe.
The top odds are the basic requirement for successful sports betting. It’s no secret that long-term betting success only comes about if you constantly bet on the best odds on the market. The differences in the betting provider comparison may not be that big at first glance, but overall they are. Beginners in particular have problems recognizing the odds key of the betting provider.
On average, the best sports betting sites in Venezuela should work with odds of 93 to 94 percent. In the case of important sporting events, such as World Cup bets or tennis Grand Slam tournaments, the betting odds key must be significantly higher. The top providers, especially in the most important football leagues, have constant payout rates of between 96 and 97 percent to offer these days. Conversely, it is important that the odds key in marginal sports does not drop extremely. 90 percent can be considered the minimum line of seriousness.
Online sports betting offers lots of perks in comparison with traditional bookmakers. So it’s no wonder that more and more betting fans want to register with the bookmaker online. One of such perks is the constant bonuses offered by online sports betting sites in Venezuela. Before you can use any of this, however, you have to register with a bookmaker. Here is how you can register quickly and smoothly.
The best sports betting sites in Venezuela value a simple registration process. To start with that, you need to go to their official website. Whether you want to complete your registration via the mobile app or prefer to use your computer is entirely up to you. This is how the registration process usually works.
Usually in the top right corner of the webpage, the green “Register Now” button will clearly be distinguishable from the menu. If you click on this button, a new window will open with the registration form.
Now fill out all the necessary information in the registration form truthfully. The correctness of your information is particularly necessary for a smooth payout process of your winnings later.
As usual, you still have to confirm the general terms and conditions. You do this by ticking the box. You can also register directly for the newsletter and will always receive the latest offers and promotions by email. However, this option is only optional and you can change your choice at any time after registration. Finally, all you have to do is confirm that you are not acting on behalf of a third party. You can also do this by ticking the box.
After successful registration, you will usually be automatically forwarded to deposit your first credit. There you can choose between a number of well-known payment providers such as PayPal, Visa, Mastercard, Neteller, etc. Pay particular attention to the different conditions of the providers so that you can find the most convenient one for you. But first, you should confirm your account with the email sent to you. But be careful, because the betting bonus may only be calculated on your first deposit, so you should think carefully about how much you want to deposit.
As soon as you have carried out all of the steps indicated, your registration is complete and you automatically qualify for the betting bonus for new customers and can start implementing it step by step.
As said, it is important that if you are going to bet at a bookmaker, it offers you a large number of sports, leagues, and events. The list of sports, at a minimum, must exceed 20 of them. It should include the most popular disciplines in Venezuela, and we want to show you some of these rules:
Football is another sport that Venezuelan gamblers really like, especially when it comes to the Vinotinto matches. Football lovers like to bet on national team matches corresponding to FIFA dates, but also on the major European leagues. And of course, national football must also be part of the available betting offer.
Some of the most popular competitions to bet on football that are present in the bookmakers are:
In general, it is important that the sports betting site in Venezuela you are going to choose offers you all this variety and much more. Not just conventional sports, the idea is to have a varied offer with a lot of sports available.
Venezuela is a country that loves baseball without limits, and the passion for this sport is disproportionate, surpassing the rest. Baseball is lived with great emotion in this country, as in very few, so, in a bookmaker, never a miss. Some of the baseball competitions that you can follow on the sports betting sites in Venezuela are:
In addition to baseball, Venezuela has a very rich equestrian culture and horse bettors are at the forefront of the sector. National races are very popular with bettors, as are the more popular American races.
Although mainstream sports have been the betting center of attraction for many years, times have changed. eSports have emerged as one of the main alternatives for gamblers and in a short time they have taken over the top places in the sector.
The fun of betting on esports is huge and requires technical knowledge of each video game, as well as being informed about the teams participating in a match, their patterns of play, tactics, strengths, weaknesses, and more.
Bookmakers have been progressively expanding their repertoire of electronic sports, allowing bets to be made in a more and more varied way. Over time, new titles and new competitions are added to the catalog of the best bookmakers in Venezuela.
Betting has greatly influenced the fact that eSports have become a trend worldwide. For this reason, a good bookmaker must present an adequate offer for this discipline, including the most outstanding categories, such as:
The video games on the list above are among the most developed in the eSports industry in terms of betting. You will be able to get events of these categories on many betting sites, the difference lies in the variety offered.
League of Legends is probably one of the most popular titles among Venezuelan bettors. It is a multiplayer role-playing game whose dynamic implies a high level of concentration and very good strategies. Of course, when talking about video games in Venezuela it is impossible to do so without mentioning the Counter Strike global offensive. The new game of the famous Valve saga has conquered the bets because it evokes the times when Counter-Strike reigned as the favorite in Internet cafes throughout Venezuela.
The important thing is to have the opportunity to seal your bet in the way you see fit. Whatever sport you are going to bet on, no matter how many your bookmaker offers, you will need plenty of options to choose from. In Venezuela, it is very common to find local bookmakers that focus on offering many leagues, only with basic markets. Proof of this, is the famous parlays, combined bets that can be executed from physical betting points. This modality has been overwhelmed by online betting houses whose offer is usually wider.
Venezuelan bettors have a great interest in a variety of markets. It really is much easier to achieve your goals when you have more options to do so. Also, if you like to have fun while gambling, maybe It will seem very boring to you to have to do it in very basic markets.
Football is the most dynamic sport and it is the one with the most markets in bookmakers in Venezuela. For something to qualify as excellent, it must offer at least a large part of the following options:
However, it must be said that the most popular sport in Venezuela is baseball and it is where the variety of options is best valued. Good sports betting sites in Venezuela understand it that way and that is why you will find different markets to bet on. The most popular ones that cannot be missed when betting on baseball are:
In short, a good bookmaker should offer you everything you need to bet on different sports without letting you get bored.
Live betting is one of the products that has most captivated online gamblers in Venezuela. Actually, this modality has managed to gain the preference of many users around the world. This type of bet involves a very interesting dynamic that allows you to add excitement to your favorite games.
A good live betting service must not only allow you the basics of it but must transcend these borders. A good number of sports are essential – not only football but also tennis or baseball available.
In addition to what has been said, it is important that a live betting system allows you to check multiple markets to make the best decision. It should be light and show updates quickly, in order not to complicate your life when betting. This can be an inconvenience due to the speed of the internet in Venezuela, but there are systems that adapt very well.
Of course, something that can be essential to bet live is live streaming, a service that every bookmaker should seek to provide you. Truly, nothing compares to being able to watch your favorite match broadcasts while betting, especially from Venezuela, where there are few alternatives when it comes to match broadcasting. Quality live streaming is decisive in choosing a bookmaker and has been one of the strongest criteria in recent times. To define it as excellent service, we can expect it to have the following characteristics:
How the bookmaker calculates their margin has often been asked when it comes to online sports betting. Sports betting info must make it clear that sports betting advisors must also answer the question of how online sports betting can give betting providers a reasonable profit.
The betting provider’s margin is basically calculated in such a way that a small profit remains with the betting provider, regardless of the result of the game on which a bet can be placed. This is only possible if the sum of all deposits is higher than the sum of all withdrawals. However, it should be noted that the betting odds can change in the longer periods before the start of the sporting event if new information relevant to the bet becomes known. For example, the injury of a key player can cause the assessment of the probability of a win for the affected team to deteriorate.
A betting odd reflects the subjective probability of a sports betting site in Venezuela. For example, if the probability of the football match between Brazil and Germany is to be estimated, then the betting provider sets the odds in such a way that as many potential bettors as possible are motivated to bet on a winner or a draw (after the normal playing time), while at the same time betting on it ensure that there is a profit for the house. This sports betting information is also announced in order to create sufficient transparency.
Let’s start with the match between Brazil and Germany. Since this is actually a home game for the Brazilians and they have a higher level of play overall, one can assume that their chances of winning are significantly better (forgetting about the 7-1 debacle a few years ago). The bettors will also appreciate this. Therefore, the subjective probability of a Brazilian win of 70 percent can be assumed. 10 percent are conceivable for a tie after the regular playing time, leaving only 20 percent for a German win. The betting odds are now calculated using the following formula: 1 divided by the probability of occurrence multiplied by 100. This creates odds of:
And this is how the bookmaker makes a profit – with an equal distribution of the stakes, no profit could be made with these odds, so the odds have to be changed. The solution to this problem is to change the probabilities for the individual game outcomes and achieve an overall probability greater than 100 percent. A margin of 10 to 20 percent is quite justified, so you go and set the probability for Brazil to win at 80 percent, for a draw to 15 percent, and for Germany to win at 25 percent. This results in the following odds, which in any case lead to a profit for the betting provider:
However, the sports betting site in Venezuela must ensure that there is sufficient motivation for betting. Online sports betting advisors quickly realize that this could become a problem for the winner Brazil because such a small chance of winning is rather unattractive for players. An increase in the odds for this game outcome can only be compensated by reducing the odds for other game outcomes in order to leave the betting provider a sufficient margin for sports betting.
Currently, many sports betting sites in Venezuela offer their existing and new customers various types of bonuses. Through such promotions, the best bookmakers try to attract new players and retain existing ones due to the huge competition in the gambling market.
Despite the variety of bonus offers, in fact, they are all divided into three types: free bet bonus, cash registration bonus, and refunds. In any case, each of the types of bonus offered has its own unique characteristics that we would like to look at in more detail.
As we have already mentioned, these conditions can be completely different and depend on the specific bookmaker. Often you will have to wager the amount of the free bet several times (2-5) and on events with at least predetermined odds by the bookmaker. Only then will you be able to qualify for a free bet.
The free bet itself works as follows: you place your free bet on a specific result and wait for the event to end. If your bet loses, you have absolutely nothing to lose. In case of a win – you get the net winnings from the bet (not including the size of the free bet itself).
Put simply, if you bet $20 on the 2.0 result, you will receive not $40 (as with a regular bet) but $20 if you win.
As for the cash bonus for registration, a sports betting site can offer a promotion in the form of a certain percentage of the first deposit. It can be 50%, but not more than $40, or even 100%, and up to $300 (it all depends on the bookmaker).
As you can see, bettors also have to sweat a lot to take advantage of this bonus, i.e. a number of conditions must be met. One of these requirements is usually wagering the bonus amount x times, often on events with a minimum odds of 2.0.
In addition to the cash bonus, there is also a so-called reload bonus. Actually, it is similar to the aforementioned bonus offer, with the difference that it is provided by bookmakers to fund your account another time.
Bettors often lose a lot of their bets. Some sports betting sites in Venezuela make sure that such losses do not or do not cause their customers to permanently leave. If you can find such a betting site, chances are they are offering you a loss bonus on your bet.
Usually, this bonus is offered as a percentage of the loss. The idea is to stay motivated and bring back a smile on your face if possible. The risk of such a bonus is minimal, and if you are a regular player, you can take advantage of them a lot, especially during special events.
If you are a high roller player with a big bankroll or have the opportunity to place big bets, the bookmaker can offer you a high roller bonus. Usually, this is a percentage of the deposit amount and can be a large amount that helps increase your bankroll by almost 50%. For example, many sports betting sites offer a high 50% deposit bonus.
Match Bonus offers are typically the most lucrative of all bonus prizes. Only a few betting sites offer match bonuses as their main offer. Increasingly, bookmakers use match bonuses as a special promotion during important sporting events.
When it’s time to replenish your sports betting bankroll, take advantage of solid reload bonuses if offered. In many cases, the percentage reload bonus will be the same or slightly less than the signup bonus.
In addition to the above bonuses, there may be a special promotion on the bookmakers’ websites, which is usually assigned to some event, the start of a large tournament, etc. As part of such a promotion, bookmakers often organize various competitions (for the best forecast, the highest chance of winning, and so on).
In addition, some bookmakers have so-called Bonus points that are awarded for bets placed and can then be exchanged for valuable prizes or money.
The Venezuelan economy is not going through its best moment, the local currency has been constantly devalued, and keeping assets in it in the medium or long term represents a considerable loss of capital. For this reason, betting users highly value the possibility of betting in dollars.
The use of foreign currency in Venezuela is very common, it is them that set the trend in the costs of each product or service. The same thing happens in betting, a large part of bettors has migrated to currency betting, and this divides the public in two. However, whatever currency you use to bet, the main thing is to have a variety of payment methods to make your deposits and collections. The more options you have, the easier it will be for you, so a good bookmaker should take this into account. The most popular payment options in local currency are:
Local bookmakers usually work with the different national banks, although Mobile Payment has changed this to allow payments to be made instantly between any of the entities in the Venezuelan banking network. If you prefer to bet in dollars to prevent your money from being devalued while you are making profits with your bets, we recommend you look at some of the most popular payment methods:
Added to all this, many bookmakers will allow you the option to bet on cryptocurrencies such as BTC, ETH, and LTC, among others. This has greatly revolutionized the payment culture in Venezuela when it comes to bookmakers.
✅ Credit or Debit Cards – All bookmakers accept this method because it is one of the most traditional for those who enjoy placing bets online. You can use VISA and MASTERCARD cards and generally, also American Express, although the latter sometimes has some limitations.
✅ PayPal – Paypal is the largest among the bookmaker deposit methods. It has more than 150 million active accounts and operates in more than 200 countries. Its history, security, and ease of use have made it one of the favorites for millions of users who carry out transactions on the Internet.
✅ Cryptocurrencies – Cryptocurrencies are a new and recent payment method in our history, however, they have positioned themselves as a safe and profitable form of payment for both the user and the bookmaker.
✅ Skrill – Skrill is a money transfer system that also offers prepaid cards, well known in the online gambling sector. Most of the sports betting sites in Venezuela offer this method.
✅ Neteller – Neteller deals with online accounts where you can make payments, deposits, transfers and more. In Latin America, you can use Neteller to place bets online on many websites.
What Is the Best Payment Option for Venezuelan Players?
Punters from Venezuela can freely access various sports betting sites available in the region, therefore can use any payment method present. And while credit cards are always a great option, e-wallets have proven to be quite reliable when it comes to transferring money abroad.
Absolutely. Venezuela does not have a law that regulates or prohibits online gambling, so these are neither illegal nor does it have regulatory control within the legislation by the Caribbean country. However, when choosing an online betting house from Venezuela, make sure that it has licenses that guarantee fair and legal gaming.
Finding a reliable and licensed bookmaker in Venezuela is a necessary part of having a safe betting experience.
Each bookmaker has different terms and conditions for operating, including deposit limits. Be that as it may, most bookmakers in Venezuela offer great minimum and maximum limits that suit everybody’s needs.
Winnings from lotteries and horse racing bets are taxed at 16%, but all other gambling winnings are taxed at 34%.
Each bookmaker and banking method provide different money withdrawal processing speeds. These can take from one day to one week, depending on both.
Certainly, it will be the one that has a license that makes it legal and reliable, in addition to having promotions that help increase your profits. In this article, you have some luxury recommendations if you want to place your sports bets from Venezuela with the best operators. So take advantage of any of them and play big.
There are dozens of sports offered by bookmakers. All sports have the potential to give you chances to increase your money when placing your sports bets online from Venezuela. However, for you to have better chances of winning, start with a sport that you know completely, this way it will be easier to predict the possible results because you know its rules and the leagues that are debuting.
Baseball and football are the kings of sports betting in Venezuela. Baseball is the most popular sport and therefore the favorite but football offers lots of options that bettors love to exploit.
Free bets are incredibly popular among bettors but not many bookmakers will provide free bets to their users. The reason is simple – they are free. Still, when encountering such offers, it is recommended to use them.
Welcome bonuses are exclusive to new players who register at the bookie for the first time. By completing the registration process, the bonus will be available to be claimed.
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