Land-Based Gambling in Iceland: The Ultimate Guide

If you’re looking for a land-based gambling experience in Iceland, you may be surprised by the scarcity of options. Still, there are some honorable mentions, as slot machines are allowed in certain areas of Reykjavik. Read this guide to find out what types of gambling are permitted and where you can find on-site casino experience in Iceland.

What the Law Says

Gambling Laws in Iceland are straightforward. In Iceland, gambling is not permitted. You won't find any traditional casinos on the island. However, certain establishments, such as Háspenna, operate under specific legal restrictions. 

What Forms of Gambling Are Allowed

The forms of gambling allowed in Iceland include slot machines, lotteries, sports betting, and online casinos, each subject to particular rules and conditions.

Criteria for Hosting Slot Machines

Opening a casino in Iceland can be challenging, making Háspenna a rare exception. To be granted a license by the Icelandic Ministry of Justice, establishments must adhere to several criteria:

1. Non-Profit Operation: Gambling establishments must demonstrate that their profits are used for approved charitable or educational purposes.
2. Gambling Experience: Applicants should possess experience in the gambling industry, a factor that further limits the number of potential operators.
3. Designated Locations: Government-approved areas for gambling are restricted to Reykjavík and Keflavík International Airport.

The Ministry of Justice evaluates each application case by case, considering these criteria, financial stability, and other factors. Approved establishments must adhere to additional requirements, including:

• A maximum of 200 slot machines or 10 gaming tables per casino or slot machine hall.
• Strict bans on gambling by minors and advertising for casinos and slot machine halls.

Electronic Gaming Machines (EGMs): Where Can I Play Slot Machines in Iceland

Despite the country's strict gambling regulations, you can find Electronic Gaming Machines (EGMs) in designated entertainment venues.

There are, however, very few places to pick from. It boils up to the already mentioned Háspenna and several hotels. Keep reading to find these locations in Iceland and get essential information about each.

Háspenna Casino, Reykjavik

Owned by the University of Iceland, Háspenna offers traditional machines, from fruit machines to video slots and table games.

Gambling at Iceland Hotels Hotel Slot Machines in Iceland

As mentioned above, hotels are the only alternative to Háspenna. Iceland's strict regulations on gambling have allowed only a few hotels to operate slot machines within their premises. Here are some of the key hotels in Iceland that offer limited form of entertainment:

Hotel Borg, Reykjavík

Hotel Borg is an elegant and iconic Art Deco hotel, ideally positioned in the heart of Reykjavík. Here, apart from the breathtaking views of Icelandic landmarks like the National Cathedral, the Icelandic Parliament, and Austurvöllur Square, guests can enjoy the limited slot machine gaming entertainment.

Radisson Blu Saga Hotel, Reykjavík

Situated in the Reykjavik+s city center, Radisson Blu Saga Hotel offers a modern and upscale experience. Its guests can enjoy limited slot machine gaming within the hotel's premises.

Iceland's approach to gambling is highly regulated, and land-based gambling options are limited. The availability of EGMs is primarily centered around entertainment and social interaction rather than extensive gaming options.

Lottery in Iceland

Operated by the national lottery authority, the country's lottery landscape comprises three lotteries—Íslensk Lottó, Íslensk Viking Lotto, and Íslensk Jackpot Euro. Find out more about these exciting games below.

Íslensk Lottó

Conducted by Íslandsspil, the national lottery authority In Iceland, Íslensk Lottó is a popular weekly lottery draw. Taking place every Saturday night, participants compete for the grand prize by picking 6 numbers from a pool of 1 to 42. Smaller prizes are awarded for matches involving fewer numbers

Overview

• Operator: Íslandsspil, Iceland’s national lottery authority
• Draw Schedule: Every Saturday night
• Ticket Availability: In-store and online
• Jackpot: Starts at ISK 10 million (approx. $75,000 USD), can grow if unclaimed
• Record Jackpot: ISK 1,270,806,970 (approx. $9.8 million USD) in 2021
• Contributions to Icelandic Society: Revenues support education, healthcare, and sports initiatives

How to Play

• Select 6 numbers out of 42 for a chance to win the jackpot
• Smaller prizes for matching fewer numbers
• Odds of hitting the jackpot: 1 in 9,000,000
• Odds of winning any prize: 1 in 10

Additional Details

• Inception: Established in 1952
• Draw Time: Every Saturday night at 20:00 CET
• Number Selection: Choose 6 numbers from 1 to 49
• Prize Tiers: Offers 9 different prize levels, with the jackpot going to the player who matches all 6 numbers

Íslensk Viking Lotto

In Iceland, Íslensk Viking Lotto is a bi-weekly lottery operated by Íslandsspil. Held every Wednesday and Saturday evening, this game offers participants a chance to select 6 numbers from 1 to 48 and 1 number from 1 to 5 to vie for the jackpot. Smaller prizes are also up for grabs for those who match fewer numbers.

Overview

• Operator: Íslandsspil, Iceland’s national lottery authority
• Draw Schedule: Every Wednesday and Saturday evening
• Ticket Availability: In-store and online
• Jackpot: Starts at ISK 10 million (approx. $75,000 USD), can increase over time
• Record Jackpot: ISK 2,150,156,645 (approx. $17.1 million USD) in 2022
• Contributions to Icelandic Society: Supports education, health care, and sports initiatives

How to Play

• Select 6 numbers from 1 to 48 and 1 number from 1 to 5 to compete for the jackpot
• Smaller prizes for matching fewer numbers
• Odds of hitting the jackpot: 1 in 13,983,816
• Odds of winning any prize: 1 in 10

Additional Details

• Inception: Introduced in 2012
• Draw Time: Every Wednesday and Saturday at 20:00 CET
• Number Selection: Choose 7 numbers from 1 to 49
• Prize Tiers: Features 10 prize categories, with the jackpot awarded to the player matching all 7 numbers
• Odds: Chances of winning the jackpot are 1 in 13,983,816, and the chances of winning any prize are 1 in 10

Íslensk Jackpot Euro

Íslensk Jackpot Euro, another lottery game operated by Íslandsspil, promises excitement every Tuesday and Friday evening. Players need to select 5 numbers from 1 to 50 and 2 Lucky Stars from 1 to 12 for a shot at the jackpot. Smaller prizes are also available for those with partial matches.

Overview

• Operator: Íslandsspil, the national lottery of Iceland
• Draw Schedule: Every Tuesday and Friday evening
• Ticket Availability: In-store and online
• Jackpot: Guaranteed minimum of €1 million (about $1.1 million USD), can grow over time
• Record Jackpot: €23,549,028 (about $25.9 million USD) in 2022
• Contributions to Icelandic Society: Supports education, health care, and sports initiatives

How to Play

• Select 5 numbers from 1 to 50 and 2 Lucky Stars from 1 to 12 to aim for the jackpot
• Smaller prizes for matching fewer numbers
• Odds of hitting the jackpot: 1 in 95,344,200
• Odds of winning any prize: 1 in 14

Additional Details

• Inception: Launched in 2016
• Draw Time: Every Friday at 20:00 CET
• Number Selection: Choose 5 numbers from 1 to 50 and 2 Lucky Stars from 1 to 12
• Prize Tiers: Offers 13 prize categories, with the jackpot going to the player matching all 5 numbers and both Lucky Stars
• Odds: Chances of winning the jackpot are 1 in 95,344,200, and the chances of winning any prize are 1 in 14

Last but not least: Sports Betting in Iceland

In Iceland, sports betting is available through various platforms. Here's where you can engage in sports betting in Iceland:

1. Online Sports Betting Websites: Several online sports betting websites offer a wide range of sports betting options for Icelandic residents. These websites allow you to place bets on various sports events from the comfort of your own home. Some popular international online sports betting platforms may accept Icelandic players.
2. Betting Shops: Some betting shops and physical betting establishments in Iceland provide the opportunity to place sports bets in person. These shops typically offer a variety of sports and events for betting. Háspenna, mentioned earlier, is an example of a gambling establishment in Iceland that offers sports betting, complementing other forms of gambling.

Conclusion

While Iceland is not a gambling paradise, it certainly offers a unique experience combining the historical charm of Reykjavik with slot hall gaming. If you want to know more about online and offline gambling options for Iceland players, as well as regulations and licensing, read this comprehensive guide about online casinos in Iceland.