Top Online Casinos in Venezuela

The Bolivarian Republic of Venezuela is a country on the northern coast of South America. It consists of a continental landmass and numerous islands that are located in the Caribbean Sea. This country is among the most urbanized in Latin America as a majority of the people live in the cities in the northern part of the country and in the capital – Caracas.

Speaking of its population, it is estimated that Venezuela has a population of around 28 million, according to statistics made in 2019. Venezuela borders the Caribbean Sea and the Atlantic Ocean to the west, Colombia to the west, Brazil to the south, Trinidad and Tobago on the northeast, and Guyana to the east. This is a federal presidential republic that consists of 23 states.

This is a developing country and it is sadly known for struggles with hyperinflation, unemployment, poverty, diseases, crime, and corruption. It is ranked 118th on the Human Development Index. Some of its most developed industries are oil and agriculture. Venezuela is known as the largest exporter of oil. Not only that, but the country has the largest reserves of oil in the world. Venezuela is a member of the UN, OAS, UNASUR, ALBA, Mercosur, LAIA and OEI.

Top Online Casinos in Venezuela
Online casinos in Venezuela
Online casinos in Venezuela

Online casinos in Venezuela

Even though Venezuela faces problems with its economy, poverty, crimes, and corruption, the gambling industry is well regulated here. Venezuela has one of the best regulations for this industry in Latin America.

Land-based casinos need to have a license to operate, which is hard to get. The state holds a monopoly on horse racing betting, greyhound races, and the lottery.

Online gambling does not have any specific regulations, but the state has granted 3 licensees to online operators. However, things are a bit complicated. Only one of these operators has permission to offer gambling services to Venezuelan players.

The other two operators are not even located on the mainland. They are based in Margarita Island and offer their services to foreign players.

Nevertheless, online and land-based gambling remains a popular activity for people. Even though the sites that are licensed by the Venezuelan government do not accept its residents, the players are more than welcome to register and play at offshore sites.

The government will not pursue them or penalize them in any way. As long as the players are of legal age, they can visit online casinos in Venezuela. But, they must be careful because due to the fact that online gambling is not regulated, unlicensed sites, which are potential scam sites, can operate in this region.

Online casinos in Venezuela
History of gambling in Venezuela

History of gambling 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.

History of gambling in Venezuela
Future of online casinos in Venezuela

Future of online casinos in Venezuela

The future of online casinos is hard to predict because Venezuela is currently in a state where it must fix other industries before it can focus on the gambling industry. Due to the 2017 crisis, many sectors were hit badly, and the country is still trying to get back on its feet.

It seems that the government is happy with how gambling is regulated these days. The regulations for land-based operators are very strict, and it is very hard to gain a license. But, it is believed that as soon as Venezuela takes care of its priorities, online gambling will also be legalized and regulated.

After all, the government has handed 3 licenses to online operators in 2015, which means that they are open to the idea of regulating them and providing the players with a better gaming experience.

Future of online casinos in Venezuela
Venezuelan players favorite Games

Venezuelan players favorite Games

Since gambling has become extremely popular in Venezuela, especially in the past 4 years, there are many games that they love to play. Since the lottery is one of the oldest and most regulated games, this is their number 1 pick.

The lottery is available at both land-based facilities and online. Not only that, but the state lottery has exclusive permission to offer its games on mobile devices. The easy access and long history are what makes this game so popular.

Horse racing and sports betting

Next up, we have horse racing betting and sports betting. These two activities are also regulated since way back, especially horse racing betting. Venezuelans wager on these races quite often at both land-based facilities and at online casinos.

Slots

Slot games are the most popular specific type of casino game in this country. These games come in various themes and have simple gameplay. All it takes is to set your desired bet and then spin the wheel. There are two types of slots available for the players – standard and progressive. Both of these types can be found at land-based casinos and online casinos.

The only difference between them is the jackpot. Standard slots have a fixed prize, while the prize at progressive slots keeps increasing as players continue to play the game. The jackpot in progressive slots can typically exceed $1 million.

Game providers

Since online gambling has become pretty popular and Venezuelans are fond of accessing online casinos, they always search for reputable providers as they always guarantee a good gaming experience.

Some of the providers that Venezuelan players search for at online casinos are Yggdrasil, NetEnt, Microgaming, Red Tiger Gaming, iSoftBet, Quickspin and Play’n GO. All of these providers are known for supplying quality games to online casinos which is why Venezuelans are always happy to find them at a certain casino site.

Bitcoin games

Bitcoin games have become somewhat popular in the past few years, but the penetration rate of these games is not too big in Venezuela. To access these games, players need to make a deposit with Bitcoin. The good thing about these games is that they offer quite a unique gameplay and thus, are interesting to play.

But, since not many Venezuelans can afford to get their hands on Bitcoins, these games are not as popular as the aforementioned ones.

Venezuelan players favorite Games
Most preferred casino bonus in Venezuela

Most preferred casino bonus in Venezuela

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 these 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.

Most preferred casino bonus in Venezuela
Payment methods in Venezuela

Payment methods in Venezuela

Credit and debit cards are accepted at pretty much every online casino and they are the most popular payment method for Venezuelans.

Statistics have shown that one of every 5 people in Venezuela owns a credit card, which is why this is the most commonly chosen payment method at online casinos. Additionally, VISA and MasterCard are extremely secure and provide the players with relatively fast transactions.

The second most preferred payment method is PayPal. This e-wallet is known for its security and similar to credit and debit cards, it is accepted at numerous online casinos.

In many cases, PayPal may even provide the players with instant withdrawals, which is not the case with credit cards. But, due to the fact that online casinos are known to charge fees for PayPal, users prefer credit cards.

Other e-wallets that deserve a mention are Trustly and Apple Pay.

Less popular methods in Venezuela

Since Bitcoin games have started to breach on Venezuelan market to some extent, this cryptocurrency deserves a mention as it can be used by some players. Bitcoin holds numerous advantages over regular payment methods.

First of all, all transactions are instant with this cryptocurrency. Since users are even provided with a certain level of anonymity, deposits and withdrawals with Bitcoin are very secure.

Finally, fees are never charged to people that use Bitcoin as a payment method. When using Bitcoin, players also gain access to Bitcoin games, which cannot be played if the player deposits with regular methods.

Neteller and Skrill can also be used, but these two methods come with fees on withdrawals in most cases. Not only that, but many casinos do not consider them eligible for claiming bonuses, which is why they are not used too often.

Payment methods in Venezuela

FAQ

Everything you need to know about casinos

Are online casinos legal in Venezuela?

As of 2021, online casinos are not regulated in Venezuela. That means that players can access offshore sites, register, and play their games without facing any repercussions. The government is pretty lenient towards this activity and will not punish the players that access online casinos.

Can online operators get a license in Venezuela?

So far, only 3 operators have gained licenses for online gambling in Venezuela. Only one of them is able to offer online casino games to Venezuelan players. The other two were based on one of the islands in the country, but they were closed shortly after being established. These days, no law states that online operators can get a license in Venezuela.

What are the most popular games for Venezuelan players?

The most popular casino games for Venezuelan players are horse racing betting, sports betting, the lottery, and slot games. Many Venezuelans either go to land-based facilities or register at online casinos to gain access to all these categories.

Which game providers do players often search for at online casinos?

Venezuelans search for providers like Quickspin, Play’n GO, Microgaming, NetEnt, and Yggdrasil when visiting an online casino. All of these providers are reputable brands and are synonymous with a good gaming experience.

What is the legal age for gambling in Venezuela?

The legal age for gambling in Venezuela is 18. When players reach adolescence, they can access online casinos and go to land-based casinos.

Can credit cards be used as a payment method at online casinos in Venezuela?

Yes, credit cards can be used as a payment method at online casinos in Venezuela. Not only that, but credit/debit cards are the most popular and most preferred method to deposit and withdraw money since they are secure and provide relatively fast transactions.

Who regulates gambling in this country?

Land-based gambling in Venezuela is regulated by the National Commission for Casinos, Bingo Halls and Slot Machines. Since online casinos are not regulated in the country, nobody oversees online activities.

Are fees applied when making a withdrawal?

In most cases, online casinos do not charge fees for withdrawals. However, policies vary from one casino site to another, which is why it is worth checking whether the chosen site applies them. The best way to do that is to check the banking page of the chosen site.

What are the most preferred bonuses in Venezuela?

The most preferred bonuses in Venezuela are all bonuses related to horse racing betting and sports betting. Casino welcome packages and Free Spins also deserve a mention since they are often used on slots – one of the most popular casino games for Venezuelan players.

Are Bitcoin games available to Venezuelan players?

Bitcoin games are featured at some online casinos. Venezuelans have grown fond of these games in the recent period, but the interest is not too big as not many Venezuelans can get their hands on this cryptocurrency.