Europe has become a hotbed for online sports betting over recent years, home to the world’s largest online bookmakers and a promising legal climate for internet sports betting, Europe’s online betting market continues to grow year after year.
Depending on your country and gambling laws you may want to stick with your own country’s state run betting sites for legal and tax reasons. Once again, it is important to research your local internet gambling laws to get the most of your sports betting bankroll. State run bookmakers are a safe bet due to the strict regulation by the government and in most cases insurance is provided to keep funds secure.
In addition to security, law, and tax benefits be sure that the European online bookmaker you choose offers the events and bonuses you desire. In most cases almost all sports will be offered however, shopping for bonuses can be a different story. Many sites will offer deposit promotions or much larger bonuses than others and if you have a limited bankroll, searching for free bets and big bonuses can help start your sports betting career.
Online sports betting continues to explode across Europe as companies aggressively target new markets trying to grow their businesses. The growth in the market will only help European sports bettors, who will benefit more and more from competition in the industry.
Neteller and MoneyBookers are the most popular options for European citizens. Both are trusted international e-wallets and can be used for depositing and withdrawing. Credit cards are also an option for most Europeans and are probably the fastest way to get money online. Bank wires or bank transfers may also be an option at many European bookmakers. Most European online bookmakers will offer many if not all of these deposit options, making the process of betting sports online accessible to all citizens.
Laws pertaining to online sports betting are very different depending on the country the gambler resides in. Let’s take a look at the legal climate in Europe’s most populous countries.
The United Kingdom: Online sports betting is legal in the United Kingdom. Citizens do not pay any taxes on winnings from online sports betting or any other forms of gambling in the UK.
France: Sports betting online is legal in France, once a state run monopoly France has only recently opened its door to outside providers. EU pressure forced this change and France licensed some of the world’s larger online bookmakers to offer their services to French citizens. Betting exchanges are still illegal in France, despite other forms of online sports betting being legal. French recreational players do not pay taxes on online sports betting winnings. However, those who fill as a professional sports bettor or gambler will be subject to taxes.
Italy: Similar to France, Italy has a state run internet gaming monopoly that finally opened its doors after EU pressure. Online sports betting is legal and Italian citizens pay no tax on their winnings.
Germany: Online sports betting in Germany is legal. While is was illegal in the past, the country has reformed their gambling offering and has introduced a more regulated landscape. There is a 5% tax on all bets in Germany, but choosing the correct bookmaker will mean that they absorb all the tax.
Sweden and Norway: Online sports betting is legal in Sweden and Norway. Both Scandinavian countries have state run bookmakers and do not allow outside online gaming operators to accept their citizens as customers. Scandinavians have a special incentive to bet on sites based in the EU, as they pay no taxes on winnings. Any amount won outside the EU is subject to a 30% tax.
Spain: Online sports betting and gambling is now legal in Spain, Spanish citizens can look forward to a 10% to 30% tax on online gambling winnings depending upon the type of wagering.
Greece: Online sports betting and gambling, is also freshly legalized in Greece. Greek citizens will pay a flat 10% tax on all online gambling winnings.
Denmark: Denmark is also opening its state run monopoly on internet gaming, liberalizing its internet gambling sector to allow outside operators. The downside for Danes is that a shocking 45% tax will be levied on internet gambling winnings.
In addition, many other European countries are beginning to regulate and offer online sports betting and other forms of internet gambling to their citizens. Check your local laws and regulations for legality and tax information.
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