Top-rated Online gambling sites in Venezuela

Venezuela's history of gambling is very young. These activities were legalized in 1997. Before that, only casinos that had local licenses were free to operate and offer their services to the people. Ever since they were legalized, players became extremely fond of this activity.

Increasing number of players

Throughout the years, the number of players kept increasing. In 2015, Venezuela even issued 3 licenses to online operators, even though this activity is not strictly regulated by the law.

The tricky thing with these operators was that only one was actually allowed to offer its services to Venezuelan players. The other two operators - Casino Bar and CasinoOnAir, were located on Margarita Island. But, since they were disreputable, both of them were out of business shortly after being established.

Economic crisis

In 2017, Venezuela was hit by a massive economic crisis that raised the crime rate, poverty, unemployment, corruption, and caused massive inflation in the region. While many other industries were falling apart, gambling, especially online gambling started to boom. Players were searching for alternative ways to make money, and they were more than willing to risk and gamble a lot of money at these sites.

Due to the fact that gambling at offshore sites was not regulated by the government, players were able to access various online casinos without facing any penalties. The government did not pursue these players in any way.

Gambling nowadays in Venezuela

These days, land-based gambling may have some restrictions, but these restrictions are not too drastic and players can enjoy these facilities whenever they want. Furthermore, online casinos remain in the law’s gray area which is why players are more than welcome to access these sites and play the latest casino games.

But, due to the fact that the government does not have any systems that are able to block unlicensed sites, these operators are known to operate in the area. That is why the players are very careful when accessing casino sites and check the chosen online casino before they engage with it.

Land-based casinos are legal and are strictly regulated in Venezuela. They must possess a license in order to operate and these licenses are very hard to get. Not only that, but there are several other restrictions when it comes to operating them.

Casinos must be located in tourist areas and within hotel resorts. The license lasts 10 years and each casino must have 200 rooms. The taxes for these facilities are also pretty high and are among the most challenging in the area. Land-based casinos must pay a 20% tax on their revenues.

In order to obtain a license, the operator must fulfil these requirements: the company must operate as a joint-stock company, the company's activities are to run a casino or a gambling hall, and the share of foreign capital must not exceed 80%.

The state holds a monopoly on the market when it comes to horse racing betting, greyhound races, and the lottery. The lottery even has exclusive permission to offer mobile games to the residents in the country.

As for online casinos, they remain unregulated. In 2015, the state provided 3 operators with licenses, but 2 of them were out of business pretty fast. Players face no penalties if they access online casinos, but they must be careful as the state does not block any unlicensed sites. The legal age for gambling in Venezuela is 18.

Regulation laws and authorities

There are numerous laws and authorities that regulate gambling in the country. The National Commission for Casinos, Bingo Halls and Slot Machines is the main regulator in the country and this regulatory body is in charge of overseeing and controlling all gambling-related activities in the country. This authority is a highly decentralized body under the wind of the Ministry of Finance.

As for the law that regulates gambling in Venezuela, there are several of them:

• Venezuela Control Act of Casinos, Bingo Halls and Slot Machines
• The Law against Organized Crime and Financing of Terrorism
• Tax Law on Gaming Activity
• The Regulation of Casinos, Bingo and Slot Machine Law
• Internal Regulation for National Commission for Casinos, Bingo Halls and Slot Machines
  It goes without saying that land-based gambling is regulated better than most of the countries in Latin America. But, since online gambling is not regulated, there are no specific laws and regulations that apply to these activities.

Hence, when players visit online casinos, they need to rely on international regulatory bodies to indicate to them whether a site is reliable, legal, and trustworthy. So, they always search for online casinos that are licensed by regulatory bodies like the Malta Gaming Authority or the UK Gambling Commission.

Since sports betting and horse racing betting are among the most popular games in Venezuela, all bonuses related to betting are welcomed. These include sports welcome bonuses, cashbacks, Free Bets, etc. The more rewarding the bonuses are, the happier the player will be.

The next preferred bonus is the casino welcome bonus. As stated earlier, Venezuelans are extremely fond of online gambling and many of them are registering at online casinos.

After registering, they are thrilled to see that they have been rewarded with a welcome package. In most cases, welcome packages include match deposit bonuses and Free Spins, which they can use on the most popular specific casino game in Venezuela – slots.

Free Spins as a separate bonus also deserves a mention. This bonus is featured at many online casinos and it is adored by Venezuelans. With Free Spins, players can play certain slot games for real money rewards without having to deposit anything. The winnings can be withdrawn once they meet the wagering requirements.

How to claim Venezuela online casino bonuses

The first general condition to claim all these bonuses is Venezuelan players must be registered at a certain online casino. Sports and casino welcome bonuses can only be claimed once the player makes his or her first deposit at the online casino. It is also worth mentioning that welcome packages can only be claimed once.

Free Bets and Free Spins are often rewarded if a player just logs in on a specific day, but players must keep in mind that they are limited. Free Bets can often be used on selected competitions and categories, while Free Spins can only be used on a handful of games selected by the online casino.

In some cases, players might even have to enter bonus codes and/or contact Support. To be sure, it is best to check the Promotions tab and read the Terms and Conditions of the chosen online casino.

Are you interested in exploring the world of online casinos in Venezuela? If so, you'll need to familiarize yourself with the Venezuelan Bolívar (VES), the primary currency used in online gaming.

Starting out as a beginner in online gaming can be challenging, but we're here to help. We've curated a list of the top online casinos that accept the Venezuelan Bolívar (VES), providing you with a wide range of gaming options, generous bonuses, and exceptional customer support.

It's important to note that responsible play is crucial when embarking on your online gaming journey. Although gaming can be entertaining, it's essential to maintain control and a clear head while enjoying it. Always set your own limits, exercise prudence, and savor every gaming session as a responsible and enjoyable pastime.

Venezuela boasts a vibrant online gaming landscape that caters to diverse tastes and preferences. Whether you enjoy slots, table games, live dealer interactions, or sports betting, Venezuela's online casinos have you covered. The beauty of using the Venezuelan Bolívar (VES) is that you can easily conduct transactions in your local currency, making your online gaming journey even more convenient.

So, without further ado, delve into the captivating world of online casinos in Venezuela and immerse yourself in the excitement of using your local currency.