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 2024 here.
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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 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.
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:
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:
A straightforward bet where you pick the team or individual you think will win a particular event or match. It is one of the most common types of bets.
A wager on whether the total number of points or goals scored by both teams will be over or under a specified number set by the bookmaker.
A wager that allows you to cover two out of three possible outcomes in a sports event, reducing your risk but offering lower odds.
A bet focused on the number of goals scored in a match, it can pertain to total goals scored, or goals scored by a specific team.
A bet that gives one team a virtual advantage or disadvantage, leveling the playing field and altering the odds.
Bets placed in real-time as the sports event is taking place, with odds that change dynamically based on the current score and situation.
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.
A bonus that offers a certain number of free bets based on various criteria like deposit amount, betting patterns, or promotional offers.
A bonus that returns a percentage of a bettor's losses over a specified timeframe. This helps mitigate some of the risks associated with losing bets.
A bonus given to existing bettors when they deposit additional funds. Often takes the form of matched bets or enhanced odds for certain events.
A bonus offered to bettors who make large wagers or frequently bet large amounts. This can include better odds, cashback, or exclusive bet offers.
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.
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:
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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