Even in the midst of a tough economy, we just can’t help it but gamble. Many Venezuelans share the same feeling. Some have actually turned to alternative means of making a living, and gambling happens to be one of the few options available.
But how do you find the best casinos in Venezuela?
We will make it easier for you. Our comprehensive guide here covers everything you need to know about gambling in Venezuela. We’ve provided insights into the best casinos and games to play.
That’s enough chit-chat there, so let’s get the show on the road.
Yes, online casinos are legal in Venezuela. Gambling, in general, has been legal in the country since 1997, when a Presidential decree allowed it.
However, casinos were to only operate in retrofitted five-star hotels. But this doesn’t mean that they weren’t operating before 1997. They were, but under the regulation of local authorities.
It was only in 1997 that a presidential decree moved their regulation and supervision to the state.
So the state established the NCCBHSM(National Commission of Casinos, Bingo Halls and Slot Machines). This body was tasked with monitoring all gambling establishments.
The agency has been using the initial legal framework to regulate casinos. However, they haven’t updated some clauses in the law to accommodate the changing casino landscape.
That is why you won’t find laws governing the operation of offshore online casinos. Players are free to cast their nets and win without regulation.
Best 3 Venezuela casinos reviewed
We know this, right? It is hard to decide which online casinos to trust, especially with no vetting and regulation by the government. But we are casino critics, and we’ve done all the work for you.
In the realm of crypto casinos BC.Game leads in excellence and reputation. The reviews we got from our research painted this casino as an all-around solution for most players. We’re pretty sure it could be your number one choice too.
Here, you will find over 6000 titles of different game genres. These are games sourced from top game providers like Microgaming, NetEnt, and BigTime Gaming.
Slots are the majority here, available in different styles and themes. Table games closely follow with over 100 variations. Poker games are also available in dozens. So the choice here depends on your preferences.
Payments here are in the form of cryptos. They accept up to 9 cryptos, including the most popular ones like Bitcoin and Ethereum.
The transactions, whether deposits or withdrawals, are seamless and instant, as with most cryptos. Why not take advantage of this convenience and play at this casino?
Even better, you don’t have to worry about language barriers. The casino is available in Spanish, alongside several other dialects.
And on licensing, Curacao takes full responsibility. It is not the best option but is a testament to the casino’s commitment to offering a safe gaming environment.
Reviewing the casino customer support, we were impressed by their prompt response. The live chat feature makes it convenient to engage with support while gambling. You can also contact the team via email, and they will address your concerns.
Our next pick for the best Venezuelan casinos is PlayAmo. It was established in 2016 by Dama N.V. Over the years, it has managed to gather a commendable following.
Today, most players regard PlayAmo as one of the best Bitcoin and real money casinos across the globe. We’ve tried and are convinced they are one of the most reliable options for Venezuelan players.
Their portfolio boasts over 3500 titles sourced from top software providers. The slots lead in tally here, with few table games and poker elements. Live dealer games are in the mix too, providing the flexibility you need.
PlayAmo accepts both fiat and crypto payments. You can deposit via options like Payz (popular in Venezuela), Mastercard, Maestro, Visa, and Bitcoin.
However, with withdrawals, the number of viable options is reduced. So you can only withdraw via a handful of payment methods like Visa and Bank transfers. But all in all, you should be able to receive your winnings without unnecessary delay.
PlayAmo is licensed in Curacao albeit its limitations. They often don’t gamble with their players’ safety as they use enhanced infrastructure for security.
Then the last one on our list is Hell Spin Casino. It was established in 2022 by TechOptions Group B.V. Since its inception, the casino has made significant moves in the industry. As such, it has managed to gather a sizable number of followers, cementing its reputation.
Our review starts with its intuitive interface. The layout is simple and easy to navigate, with a dedicated search bar for easy location of games. On the homepage, you can note lists of the most popular games highlighted.
At the core of its game collection, you will find a wide variety of genres to suit every preference. Whether you enjoy playing slots, table games, or poker, you will find them here.
What’s more, these games are sourced from renowned and trustworthy software providers worldwide. This ensures a high-quality gaming experience. With over 3500 games in their portfolio, you’ll have plenty of options to choose from and explore.
Hell Spin accepts payments in crypto and fiat. You can use Bitcoin or any other crypto to deposit. Alternatively, conventional and revolutionized payment methods like Visa, Mastercard, Skrill, and Payz will also work great.
The minimum you can deposit and withdraw here is equivalent to €10. Venezuelan Bolivar is not accepted here. As such, local players can place wagers using USD, which is the unofficial Venezuelan currency.
Hell Spin, being crypto-oriented, is licensed by the Curacao e-Gaming Authority. Their customer support is nothing short of excellence. They will respond and address your concerns professionally.
Be free to engage the support via the live chat feature on the website or reach them via email. Any would work great.
Hell Spin only supports 2 languages, English and German.
Choosing the best online casino in Venezuela doesn’t have to be a complicated process. Here is how to go about the whole process.
1
Check the Casino’s Reputation
Any casino site you bump into on your search for the right casino needs a thorough reputation check. In other words, how have they been operating? Are there complaints filed against them by players? How do they treat their players?
2
Read the bonus terms
Now that you have established the casino’s reputation, check the bonus terms. First of all, are the bonus offers realistic? How high or low are their wagering requirements? Consequently, check and evaluate these bonuses and promotions’ impact on your bankroll.
3
Find the game you want
Onto the next metric. Dive into the casino’s games portfolio. There should be a plethora of games to choose from, including your favorites. Your preference should be the only driving factor here. Otherwise, why call it the right casino when your preferences are not covered?
4
Payment Acceptance
You will also need to factor in the payment methods here. Do they accept cryptos? Do they accept conventional payment methods like bank transfers? How is their transaction speed? This and many other questions will go along with choosing the casino of your preference.
5
Make your first deposit
Now congratulations on choosing the right casino. Proceed and register to make your first deposit. Use your preferred payment processor and currency to ease things up. The whole process should be a walk in the park. Then, there you go.
New online casinos in Venezuela
The online gambling industry in Venezuela is currently in its growing stage. As a result, many new casinos are making significant investments to attract local players.
However, due to the lack of regulations, it is not always clear what their intentions are. Some rogue operators may aim to take advantage of unsuspecting citizens. Therefore, you need to be cautious when searching for the right platform to place your bets.
But put aside your worries. Come with us as we explore new online casinos accepting Venezuelans. Check out the list below. And as a matter of fact, we will keep updating it, so keep it close.
The most popular casino games in Venezuela are slots. Not sure why, but perhaps because of their unique and exciting gaming mechanisms.
After all, who wouldn’t love the thrilling adventures presented by slots? Imagine being transported to the ancient world of Pharaohs or the Greeks. That is exactly what you get in video slots.
Even better, you have the opportunity to choose from a wide variety of options and flow with the experience. Whether you prefer themes like horror, zombies, fruits, or even spirituality, the choice is yours.
After consulting several Venezuelan gamblers, it was clear that the following 5 are the most popular slots in the country.
Book of Dead
We start with the Book of Dead slot. It was launched in January 2014 by Play’n GO. At its core, it boasts a grid of 5 reels, 3 rows, and 10 Paylines.
The beauty of it is that you have the freedom to choose how many paylines you wish to play with. And each payline comes at the cost of around 1 penny.
To hit a winning combination here, match at least 3 symbols in the row to either of the 5 reels. The higher the number of active paylines you play with, the higher your pay/reward will be.
You can also use the autoplay feature and let it spin for you. Just customize it to fit your preferences.
For instance, you can set it to automatically play a set number of spins, normally between 10-100. You can also limit it based on your balance, such that the autoplay feature stops when the balance goes up or down.
The variance of this slot is high, so you can expect small wins. Yet, the situation could significantly change if certain special features like Free Spin are triggered. They may force a bigger payout.
RTP here is above average – 96.21%. Further, you can win a maximum of x5000 of your wager, which is quite reasonable.
Consequently, you can expect to be transported to the mythical underworld of Ancient Egypt. This is an adventure where you will encounter Anubis and Osiris.
Our next pick for the most popular slots is Gates of Olympus. Its theme revolves around ancient mythology, just like its predecessor, Book of the Dead. However, in this case, Gates of Olympus focuses on ancient Greek religion.
As per the theme, the slot tells the story of the god of Sky and thunder. He reigns over Mount Olympus and its gods. There are precious metals like gold and marble, which dominate the imagery.
Gates of Olympus is set on a grid of 6 reels and 5 rows. The total paylines here are 20.
The game is highly volatile, with various bonus features like Tumble, which can double your winnings. Of course, free bonus rounds are also available to boost your chances of winning.
Multipliers here extend to 500x your wager. And if, for instance, things fall under your grace, you can get close to Zeus. When done, you’ll hit a multiplier of up to 5,000x.
You can see it is quite a good slot that can pay you handsomely. The RTP here is 96.5% which is within the average. So you can always expect a fair return on your wagers.
Another popular slot in Venezuela is Big Bass Splash. It is the fourth addition to the Big Bass Splash family. Its predecessors, Big Bass Bonanza, Megaways, and Christmas, have constantly rocked the market.
So the expectations for this slot were high during its release. Every slot lover wanted to know what new they would add to the fourth edition of their famous Big Bass series.
That Fishing float you are used to in the other series will be replaced with Monster Truck. The monster truck is commonly used by fishermen in America to haul out their work tools.
So no need to worry about its connection with fishing. There is also a notable alteration of scenery with a soothing soundtrack in the background.
This series’s most notable and high-paying symbols are the monster truck, fishing rod, fish, and dragonfly. Other counterparts are Jack, Ace, Queen, King, and Ten.
Like other slots, to hit a winning combination, you must match at least three symbols to the reel, left to right. The minimum amount per spin here is£/€ 0.10. On the other end, the maximum bet per spin £/€250. So it is quite an accommodative slot.
Notable special features in Big Bass Splash include free spins, wilds, autoplay and multipliers. All these can possibly double your payouts and increase your bankroll. What about the RTP? Well, it’s slightly above average – 96.71%.
Then our last pick is Sweet Bonanza, a slot game set on a grid of 6 reels and 5 rows. It was released in 2019 and resonated well with many slot lovers.
However, unlike the other slots where you must land 3 symbols on reels to win, here you will need to land at least 8. And no, not in specific reels. You can go anywhere on the reels.
Even better, when you land a winning combo, the tumble feature comes into play. It removes the symbols and replaces them with new ones, creating the opportunity for more wins.
This process continues repeatedly until you no longer form a winning combination. Essentially, it acts as a mechanism to reward you with free spins and potentially double your payouts.
In the event that you trigger the Free Spins feature, you will be awarded up to 10 free spins. There is also an Ante bet feature that can double your stake. Precisely, the chances of you winning here are greatly increased.
The RTP here is 96.48%, slightly above average. So a fair return of your winnings is possible. But you can only win up to x21100 your stake.
Yes, slots take centre stage in terms of popularity in Venezuela. But we cannot write off the following games.
Table games
These are the classic games like blackjack, roulette, and baccarat. They are available in different variations, and the best online casinos in Venezuela have them in plenty. They are popular among the locals.
Poker
This is another popular game of chance in Venezuela. Poker machines have been in existence alongside casinos since 1997. So it is no surprise poker is still popular among locals. Online poker has just fueled the whole experience with no regulation.
Bingo
We also have bingo, popular among locals. There have been many bingo halls in mainland Venezuela. However, the high taxes imposed on operators has forced them to close. But this hasn’t affected players’ love for the game. They have resorted to playing bingo online to quench their thirst. And it seems to be unfolding quite well.
Venezuela Sports Betting Sites
Sports betting is popular in Venezuela. Locals place bets on their favorite sports daily. Football is the most popular sport here, with horse racing following closely.
Interestingly, sports betting here is monopoly centered. It is run by regional lotteries under the state’s authority.
You will have to pay taxes on your winnings, and the markets are few. As such, if you need more functionality in your sports betting, perhaps you try offshore bookmakers.
Most offshore sportsbooks offer you the best odds and a wide range of markets. Precisely you have all the flexibility you need and, of course, no regulation. But you have to keep in mind the potential risks associated with unregulated sports betting sites in Venezuela.
Want to have a sneak peek at these online sportsbooks? Below are some.
Most popular casino payment methods in Venezuela
With payment methods, there is no reinventing the wheel. They are the same payment methods you will expect to find in most Latin American and Caribbean states.
However, some are more prevalent in certain regions than others. For example, e-wallets are the most popular in Venezuela. Considering the recent boom of online casino betting, they are the most popular processors among players.
But there are others, as we will see below.
Payz
This is the number one popular e-wallet in Venezuela. It was popularly known as ecoPayz, but not anymore.
Payz gives locals the flexibility to transact with casinos instantly at low charges. Given that it accommodates over 40 currencies, locals don’t have to go through the currency conversion hassle.
You can even link your bank accounts and transfer funds as you like.
Skrill comes second in Venezuela, especially for players depositing and withdrawing funds from their offshore casino accounts. It is great for players looking for a quick way to access their funds.
With their mobile app, you have all the flexibility you need. You can easily make your casino deposits and pay your bills online.
Besides, getting started with Skrill is easy. There are no complicated approval processes. Once cleared, you can link your bank account, and you’re good to go.
PayPal
This e-wallet is still garnering traction among locals since it uses dollars – the unofficial currency of Venezuela. You can link PayPal to your bank accounts and complete transactions in local currency.
But beware of the high transaction costs.
Bank Cards – Visa/Mastercard
Card payments are popular everywhere across the globe. So in Venezuela, you can still use Visa or Mastercards to make online casino deposits and withdrawals.
The convenience is great, and so is the security. Not to forget their versatility that extends to paying bills and doing shopping.
As per estimation, in 2021, 10.3% of Venezuelans owned crypto tokens. So it shouldn’t surprise you when you see Bitcoin here as a popular casino payment method.
Venezuelans use crypto to place their bets in crypto-oriented casinos. They love the conveniences and anonymity associated with cryptos. Consequently, using crypto is quite understandable, considering the country’s hyperinflation.
We cannot disregard traditional payment methods as they continue to be popular in Venezuela. Many locals prefer using bank transfers due to their perceived safety and reliability. With this method, you can be assured that your money is safe, regardless of how long it takes
Gambling Regulator in Venezuela
All gambling activities in Venezuela are regulated by Comisión Nacional de Casinos, Salas de Bingo, y Máquinas Traganíqueles (National Commission for Casinos, Bingo Halls and Slot Machines). It is a subsidiary of the Ministry of Finance.
As aforementioned, it was founded in 1997 by a presidential decree seeking to officially legalize gambling in Venezuela. This was in the hope that the government would generate revenue to support the economy.
The regulator is mandated to issue and cancel licenses of all gambling entities. But it doesn’t cover online gambling establishments.
Here is the criteria they use when issuing licenses;
They will check if your company is joint stock – it is their basic requirement for application for a license.
They will check and ensure your company is focused on running the casino – also on their requirements.
Then finally, the limit of foreign capital will be capped at 80%.
They will still also check on your operational capital reserve. You must have operational liquidity of 200,000 tax units to be granted the license.
Similarly, your company should have a minimum investment of 300,000 tax units. They just want to be sure you are in a better position to run the casino without inconveniences.
Licenses are only valid for 10 years, after which they will need to be renewed.
Your casino will also need to be located in a designated area marked as a tourism zone by the central government. Say, inside a 5-star hotel.
Here are other designated duties of the regulator;
They will monitor and ensure strict compliance with rules and regulations regarding gambling. Any deviation from the rules will often result in punishment and fines and, if worse, revoking of the license.
They will also ensure timely payment of taxes to the government. Even better, they will ensure casinos devise their regulations to protect players. For instance, each casino will need to;
Outline a detailed explanation of the rules in their games. The rules are to be written in Venezuela’s official language.
Record and analyze results for players.
Examine the mathematical expectation for each party involved.
Have a minimum requirement of 80% programmed theoretical value for slot machines.
Consequently, a national Inspection will often be done. So, there will be a crackdown on all gambling machines not meeting fairness standards. This is aimed at weeding out rogue operators and protecting gamblers.
Venezuela-specific Gambling restrictions
Nothing much here on Venezuela-Specific gambling restrictions. Only the basic ones, like you need to be 18 years old to participate in gambling.
However, initially, there was a set jurisdiction on the maximum amount you could wager on sports. Hyperinflation changed everything.
You couldn’t exceed VEF 1000 when betting on your favorite sports. But with the infamous hyperinflation, this amount was drastically reduced to a small fraction equivalent to USD.
So the restriction had to be altered before more harm could be done to the overall legal sports betting industry.
Gambling taxes in Venezuela
Taxes on winnings are inevitable in third-world countries like Venezuela. You must share the little you get in your wagers with the government. You will have to pay a withholding tax of 34%. Quite huge, right? But you have no other option. Perhaps you try offshore gambling, which has no regulation. Even better, you are paid in USD, which is more valuable than the Venezuelan bolivar.
However, the 34% tax rate does not apply to horse racing and lottery winnings. It seems that these activities are somewhat state-owned, and many citizens engage in them.
The 34% tax on casino winnings may be a government measure aimed primarily at taxing tourists. So the tax rate on winnings from horse races and lottery is as low as 16%.
Now, in the case of land-based casinos, the government always keeps them in check with taxes. Casinos are mandated to a 10% cut off on their gross revenue. Bingo halls, on the other hand, are subject to a 12% tax on their profits. That is, after paying the winners.
Operators, in their case, are entitled to a monthly royalty payment of 10 tax units on slot machines. This is besides another 40 tax units on each casino table.
History of Gambling in Venezuela
Gambling history in Venezuela is not diverse as it is in most Latin American states. Before official legalization in 1997, gambling was still popular among locals. The gambling establishments at this time were authorized and regulated by local authorities.
However, the whole activity was ruled by corruption, with rogue operators finding their way inside. So some sought of filtration was necessary to weed out the rogue operators.
In 1997, the government intervened and legalized gambling in an effort to cleanse the industry. As such, all casinos were to be licensed by the National Commission for Casinos, Bingo Halls, and Slot Machines.
They were also to operate under the board’s jurisdiction and supervision. The result, you ask, was an immediate sprout of the many land-based casinos targeting tourists. Citizens also got in the mix, which didn’t sit well with Hugo Chavez 1998, who had just ascended to power.
So to regulate the whole matrix, he hiked casino taxes, and many operators were forced out of business. The number of casinos reduced significantly until Nicolas Maduro came into power (2013) and overturned the decision.
The aftermath saw a slow resurgence of casinos, but it wasn’t long before the infamous 2014 Venezuelan hyperinflation severely impacted them. The surviving casinos faced further turmoil during the 2020 Covid-19 pandemic, resulting in the collapse of many establishments.
Presently, there are only five active land-based casinos in Venezuela. Of Course, other casinos could operate illegally, which is the case in most unstable countries. But whichever the case, most Venezuelans today rely on offshore gambling sites to play casino games.
Land-based gambling in Venezuela
Land-based casinos in Venezuela have operated since 1997, when they were officially legalized. They all operate under licensing from the NCCBHSM, – the agency responsible for monitoring their operation.
Per the gambling law, they must be in 5-star hotels across designated tourist centers. So in most cases, they are all target tourists visiting Venezuela.
These gaming establishments are all mandated to pay a tax of 20% of their gross revenue. This has forced many out of business.
There were many initiatives, but the number has kept on reducing. As of today, only 5 legal hotel-based casinos are operating in Venezuela. Their condition is almost out of hand, with old and rusty gaming equipment not resonating well with many players. Yet they seem to be scraping by.
80% of these brick-and-mortar casinos are located near the Venezuelan capital Caracas. Others are around the Caribbean island of Isla la Margarita. There are also bingo and lottery halls.
Venezuela Gambling Addiction Help
In third-world countries, citizens often turn to gambling to make ends meet. That is the case with Venezuela. No laws regulate online gambling, making it easily accessible to the public.
So residents can gamble at their convenience. It is their de facto source of income, which is quite understandable considering their unstable economic condition. With many people making gambling their profession, addiction is inevitable.
As such, in Venezuela, the number of problem gamblers keeps rising. And this is of great concern considering the devastating nature of gambling addiction.
Yes, we can cast shades on the regulator. But they have done their best, especially on land-based entities.
They have set strict regulatory measures that have long promoted responsible gambling. But the concern remains with online gambling, which is beyond their jurisdiction.
So precisely, you are on your own when gambling online. You need to constantly keep your gambling habits in check. Look out for signs like;
You are preoccupied with gambling.
You are always looking to gamble with high stakes, perhaps to recover losses.
Restlessness or irritability when attempting to reduce gambling.
You are using gambling as an escape route- A way of coping with life’s challenges.
If any of the above signs become prevalent to you, reach out to Gordon Moody via email; at [email protected] for help.
Did you know?
No laws govern online gambling in Venezuela.
Illegal gambling is a vibrant industry in Venezuela.
FAQs
Yes, it is legal. Basically, there is no framework to regulate online casinos in Venezuela. The government is yet to address the sprouting of online casinos. You can, therefore, confidently play at your favorite offshore casino without much concern.
Gambling in Venezuela is regulated by NCCBHSM, an agency established via a presidential decree in 1997.
NCCBHSM licenses, regulates, and oversees the operation of all land-based casinos in the country. They have no say over online gambling, which many civilians prefer nowadays over their state-operated bingos and lotteries.
Yes, taxes are inevitable in Venezuela. This is especially true if you are gambling in state-owned land-based gambling establishments like lotteries and bingo halls.
Land-based casinos located in hotels are not an exemption either. You will have to pay taxes on your winnings.
Slots are the most adored casino game in Venezuela. Players love their amazing gaming mechanisms. Table games and other games of chance like bingo and poker follow suit.
Yes, they can. That was the government’s objective when they legalized gambling in 1997. They put all casinos in 5-star hotels, where tourists would reside and place their wagers. So yes, as a tourist, you can play bingo, slot machines, and the lottery in Venezuela.
We cannot quantify the number of people who gamble in Venezuela. However, many gamble online to bypass the government’s harsh taxes on winnings.
Final verdict
Overall, the gambling landscape in Venezuela gradually shifts towards online gambling. The presence of casinos within hotels is diminishing. This is possibly due to the unstable nature of the industry or other factors at play.
This transformation signifies an intriguing turn in the gambling sector.
However, bingo and lotteries seem to still be popular across mainland Venezuela. Citizens love gambling at their dedicated halls while interacting with real dealers. That is why we think they are going nowhere and their relevance will keep increasing.
The boom of online gambling will eventually rule the market. And perhaps the government will devise a way of regulating it.
For now, Nicolas Maduro reiterated that he has no business with casinos. This perhaps means he may think of it later, and there is no way he will lower the casino taxes.
Ultimately, as you place your wagers on the above-mentioned casinos, be sure to practice responsible gambling. Remember, it is a free market without regulation, so all the responsibility rests upon you.
Stan is the one that founded CorrectCasinos.com back in 2018. He is really passionate about fair-play in online casinos, transparency and responsible gaming.
