What You Need to Know in 2021

What You Need to Know in 2021

by Manish Singh

The betting market in Austria is regulated by the Bundesministerium fur Finanzen, also known as the BMF. Its status is currently that of a grey market. In a grey market, a licensing system is in place but investors from abroad can come and showcase their services without having to obtain a proper license from the BMF.

Austrian bookmakers are slowly starting to compete with the bigger international companies in the market. Here are some of the new betting sites that you can check out in Austria: Neo.bet, established in 2018, HC’s on NBA, Euroleague, and SpinSports.

The main currency used by Austrian betting sites is Euros. Moreover, gambling, lotteries, and casinos are heavily regulated by the government. In contrast, Austrian sportsbooks are much more flexible. Even if you bet on foreign betting sites, you will be able to do so without facing any legal actions.

If you’d like to read more expert guides on bookmaking, check out our guest writer, Kate Richardson’s profile by clicking here.

Here are the top 3 betting sites in Austria that you need to check out if you are looking to start betting:

1. 22bet

You can expect a 100% bonus up to €122 when you sign up with 22bet for the first time. With 22bet you will gain access to over 1000 events to choose from, among several categories. In addition, you also gain access to 24/7 customer service for all your needs when it comes to online betting.

2. N1 Bet

A great offer you’ll receive with N1 Bet is €10 in free bets. There are no country restrictions with N1 Bet, and gain access to 40+ sports to place bets on. You also have high odds on secondary bets.

3. Sportaza

With Sportaza, you gain access to a 100% bonus worth €200. Much like N1, there are very few country restrictions. Also, you will be able to bet on 35+ sports including the top football and basketball leagues.

The best part about betting in Austria

Austrian betting sites are particularly famous for their football bets. The German and Austrian Bundesliga, Erste Liga and Regional League attract the most attention. Winter sports are very popular in Austria and many bettors gamble on winter sports such as skiing or ice hockey.

Is Sports Betting Legal in Austria?

Sports betting and gambling are completely legal in Austria, although gambling and lottery are heavily regulated. On the other hand, sports betting provides access to a vast array of sports betting websites from Austria or abroad.

Is Betting on Foreign Betting Sites Safe?

The Austrian government does not apply any restrictive measures on betting. You can enjoy international betting sites just as safely as Austrian betting sites.

Are My Winnings Taxed?

Most people betting in Austria worry about whether or not they will have to pay taxes on their total winnings. The reason behind this is that it significantly reduces the share of their profits. Fortunately for the punters, only operators have to pay a 2% tax on all the stakes that they register. You, as a punter, will not have to pay any tax on your winnings. This applies to sports betting as well as gambling, lotteries, and casinos.

Bookmaking in Austria

Betting on sports has become extremely common and nowadays people are willing to stake a lot of money on bets. Among the sports on which people bet, Football occupies an eminent place. In fact, football has a lion’s share of the overall betting industry, and it’s no different in Austria.

To legally operate as a bookmaker in Austria, local companies will have to apply for a license from the Bundesministerium fur Finanzen, which is the ministry of finance in the country. However, this gaming license only allows them to serve local customers while being a local company. If a foreign company wants to set itself up in Austria and appeal to the local audience, it will have to go through a rather challenging.

three person pointing the silver laptop computer

The main reason behind such restrictions is the ads targeting Austrian players. The court of justice interfered with these stringent laws targeting foreign betting companies in 2014. This mainly applied to casino operators at the time but is now expected to stretch to the rest of the gambling industry as well.

International betting sites that accept players from Austria

While Austria has a lot of betting sites and companies for a country of small size, a lot of people prefer betting on international sites. The main reason behind this is that they gain access to better odds, the bonuses are more attractive and the betting markets are more diverse. They also do not face any legal actions when they play on international betting sites either.

Plus, there is the range of options on offer.  Various platforms offer different odds before and during a game of Football. This mean that you can get the best out of betting by making sure you get the best odds each time you bet.

Some of the best international betting sites that have expanded to Austria Βet365 Austria, 22Bet or Betfair Österreich. These sites have a very generous bonus for new players, and also offer very competitive odds for sports.

How to Bet Online in Austria?

To bet online in Austria, you need to first set up a betting account. It is a very brief process and won’t take you longer than 10 minutes at best. Once you have set up and authenticated your account, you need to top it up. Some of the most popular payment methods when it comes to online betting are

  • Sofort Kredit Österreich
  • Neteller, Skrill
  • EPS
  • PayPal
  • Giropay

Once you have topped up your account with a sufficient balance, you are all set to place your first bet.

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