Top Casinos and Best Banking Options for Norwegian Players

Norwegian people like to gamble, but, unfortunately, there have been situations in the past in which the passion for gambling had got the best of them. For this reason, the authorities resorted to imposing very strict measures and regulations in the field of gambling. Currently, most types of gambling are illegal in the territory of Norway. Only two companies have permission from the government to offer gambling services to the country’s residents, Norsk Rikstoto and Norsk Tipping.

The Norsk Risktoto is in charge of monitoring and regulating pari-mutuel betting, aka horse racing. This also includes accepting horse race wagers over the internet. Norsk Tipping is the national lottery. The Gaming Act of 1992 gave Norsk Tipping a monopoly-like control over the country’s lottery and sports betting operations, which was later followed by also adding the exclusive right to host online poker websites.

Three legal acts were introduced in Norway in the 20th century and these further clarified the exceptions from the strict ban on gambling. These were the Totalisator Act of 1927, the Gaming Act of 1992 and the Lottery Act of 1995. There is also a supervising body in Norway for all legally present gambling operations including lotteries, slot machines, horse race betting and sports betting, raffles, bingo and online gambling – the Norwegian Gaming Authority.

Lotteri-og Stiftelsestilsynet announced newly proposed regulatory reforms in 2020. The Norwegian government said it would impose stricter sanctions against unlicensed gambling operators and affiliates which promote them.

A new Gaming Scheme Act unifies the Lottery Act, the Totalisator Act, and the Gaming Scheme Act. The new regulation that replaces these three existing acts was introduced to the Norwegian parliament in June 2021 and was processed by the Family and Cultural Affairs Committee. Although the Gambling Act consolidates the rules from the previous three acts, it also delivers a few additional regulations.

Norwegian gamblers who win some cash while enjoying their favorite form of entertainment can expect to have their winnings taxed in some cases. Gains exceeding 10,000 NOK obtained from games of chance, competitions or lotteries are considered incidental and represent taxable income. They are subject to a 28% tax.

However, if you have won while playing lotteries provided by state-owned operators such as Norsk Tipping or Norsk Rikstoto, your winnings will be exempt from taxation. The same goes for those held to contribute to a humanitarian cause or socially beneficial aim.

Winnings at games provided by operators from other European Economic Area countries may also be exempt from taxation if their gambling services are comparable to those legally available in Norway and can be publicly monitored. However, it is important to note that winnings obtained from activities provided by commercial gambling operators in the EEA are not comparable to those legally offered in Norway. Therefore, they will not be exempt from tax.

Professional gamblers in Norway may face another approach regarding taxation. The winnings they score may be considered income they have earned through self-employment. Therefore, they will be taxed as a tradesperson, meaning they can deduct costs made while participating in this activity.

Not only do these sites boast trustworthy licenses, they also employ high levels of online security measures known as SSL (Secure Socket Layer) encryption technology to prevent fraudulent activity. Your personal details and your bankroll will always be in safe hands if you don’t stray away from high-rated online casinos.

We are aware that a lot of shady operators are running fraudulent casino websites to cash in on the trend or emerging online casinos in the Norwegian market. That being said, we will continue to fight this with the help of you, our Norwegian readers. Hopefully, after reading our reviews and observations, you will obtain the skills and experience needed to recognise fraudulent casino websites. Remember, legitimate casinos are usually granted a license by the Government of Gibraltar, Malta Gaming Authority, the Curacao Internet Gaming Association, Kahnawake Gaming Commission or Alderney Gambling Control Commission.

Luckily, all the casino sites we’ve encountered that welcome Norwegian players accept NOK currency. This is considered a major advantage, given the fact you will not be required to pay a currency conversion fee or opt for playing in another currency. Other than complicating your payments, the exchange process will bring additional charges, something that is always good to avoid when playing casino games online. Top Norwegian online casinos will make it a point to offer their services to Norwegians in their local currency, the Norwegian Krone. Make the most of it and enjoy depositing in your domestic currency.

Espen Jørstad is the first Norwegian to win the top poker prize at the WSOP Main Event. In 2022, Jørstad took home $10 million and a gold bracelet at the $10,000 Main Event held in Las Vegas. His total live earnings are $10,630,521 at the moment of writing.

Another famous gambler from Norway is Felix Vincent Stephensen, a semi-professional poker player. His specialty is an online Pot Limit Omaha cash game, where he plays at stakes of $25 and $50. Stephensen’s total live earnings in November 2022 are $5,850,349. He currently lives in London, England, since it is believed that his WSOP winnings would be subject to a 50% tax if he returns home.

Annette Obrestad is a Norwegian poker player and YouTuber. She rose to fame as the youngest winner of a WSOP bracelet. Along with $1,000,000 in cash, Obrestad won the bracelet at the £10,000 No Limit Hold’Em Event at the 2007 World Series of Poker Europe. Her total live earnings are $3,942,233 in 2022.