Online Betting in Sri Lanka

Sri Lanka flag

Whether illegal or legal , online betting has been prevalent in most parts of the world, and Sri Lanka is no different. Due to the complex law structure regarding online betting, there has been little development in this industry.

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Online betting in Sri Lanka explained

While there were no clear laws regarding online betting in Sri Lanka, the 2010 law has opened ways for this in the region. Sri Lankans can easily access international betting sites like Betway or Bet365 and place bets on their favorite sports.

There is no proper framework for online betting in Sri Lanka as such, but the authorities do not seem to mind international betting sites accepting its citizens. Recently, the government has increased taxes and licensing fees of land-based casinos, which has led them to increase the entry fees. The biggest gainers of this move have been online betting sites, where registering an account is absolutely free. Punters have been thronging such sites to make the most of free entry as well as promotional offers.

Although the casinos are named Bally's and Bellagio, they bear no relationship to their Western counterparts and are just namesakes. After the end of a decades-long brutal civil war in 2009, the country is now taking steps to boost its economy and infrastructure, and tourism revenues play a huge part in this restructuring.

In 2010, the government passed the Casino Business Act with an overwhelming majority, establishing a proper legal structure regarding casinos, in a bid to attract new foreign investment in the sector. Betting on horse racing, and playing the lottery are considered to be legal too in the country.

And with the dawn of the digital era, Sri Lanka has seen a gradual rise in the popularity of online gaming. Although the internet penetration in Sri Lanka is low compared to its neighbors like India, betting sites in Sri Lanka have flourished. Online betting in Sri Lanka is popular in sports like cricket, rugby, football, and horse racing.

Best betting sites in Sri Lanka

Some of the top betting sites in Sri Lanka include

  1. Betway
  2. Bet365
  3. 10bet
  4. Unibet

Best online betting sites in Sri Lanka

Betway

Betway Site Review

Betway is one of the best known online betting sites in the world. The brand is owned by a company called Rosehall Global. The site was founded in 2006 and holds gambling licenses in multiple countries like the UK, Italy, Spain, Sweden, Ireland, and South Africa. Its international operations in other countries like Sri Lanka and India are conducted under the regulation of the Malta Gaming Authority.

Betway has a huge collection of sports for betting on, including cricket, football, tennis, rugby, greyhound racing, and horse racing. In addition to placing bets on regular daily football and cricket matches, betway allows punters to place wagers on all major domestic and international tournaments and leagues. For football, players can bet on tournaments like the Euro Cup, Premier League, La Liga, Bundesliga, Serie A, and Champions League.

Cricket lovers won’t be disappointed too, as they can bet on all major ICC tournaments, bilateral series’, Ashes, and T20 leagues like the IPL, Big Bash, Pakistan Super League, Mzansi Super league, and the Super Smash League. The site has a blog section wherein players can get cricket betting tips and analysis from expert bloggers.

Once again, you can also place bets on non-sporting events like politics.

While traditionally, betting was carried out on just the results of a game or an event, online betting has led to the creation of thousands of betting markets. Betway allows players to bet on markets like `First goalscorer´, `Both teams Both Halves´, and over/under betting. Betway also allows punters to suggest custom made betting markets under the `Bet Your Way´ promotion.

The site has an excellent in-play betting option, where players can either fully, or partially cash out of ongoing events to ensure returns without having to wait for the event to complete.

The site has a dedicated mobile betting app for its betting site which is available for both Android as well as iOS devices. In addition to sports betting, one can also enjoy the various other brands that betway offers, including Betway casino, Betway poker, and Betway bingo.

The company is associated with many sporting teams like the West Indies cricket team, and the West Ham football team. It is a betting partner at events like Mzansi Super League and the Cheltenham Horse Racing Festival and boasts of the cricketing legend Kevin Pietersen as its brand ambassador.

Unibet

Unibet is a well known Swedish online gambling and sports betting site, which also accepts players from Sri Lanka. It is a part of a larger Kindred group, which also owns many other brands such as Stan James, 32Red, and iGame.

The Unibet site is headquartered in Malta and operates under the license of the Malta Gaming Authority. It began its operations in 1997, and since then, it has won several awards including `Sports betting Operator´, and `Online Poker Operator´ at the EGR Nordics Awards 2020.

The site has a huge number of sports to bet on, including cricket, football, tennis, and horse racing, popular tournaments like the NFL, NBA, Premier League, and La Liga. You can also bet on non-sporting events like politics and reality shows.

The site uses SSL encryption for the safety of user data. It supports payment options in multiple ways, including Neteller, Skrill, Credit/Debit cards, and bank transfers. The site is PCI DSS compliant, which means you can share your card data without the fear of it being misused.

10bet

The site has been in operation since 2003 and holds a gambling license from the Malta Gaming Authority, where it is headquartered. In addition to that, it also holds gaming licenses in multiple countries including UK, Ireland, and Sweden.

The website has over 50 different sports to choose from, and punters can bet on more than 2000 different markets, including single bets, double bets, as well as accumulator bets. The website also accepts Asian handicap bets.

The website offers a unique `Bet calculator´ feature, which is available on both, its website as well as mobile apps. Here, punters can enter details like type of multiple bets, stake amount, and odds, and can instantly calculate the potential winnings. The best part is that the feature is free to use.

The website is laid out simply and is pretty easy to use, even for first-time users. It also features an excellent in-play betting section, and the site regularly comes up with innovative features to please its customers.

888sport

Another global sports betting giant that accepts players from Sri Lanka is 888 Holdings. The company launched a dedicated sports betting site in 2008 and holds multiple gaming licenses including the Malta Gaming Authority, UK Gambling Commission, and a remote license from Gibraltar.

The website has a huge range of sports to bet on and provides some of the best betting odds in the industry.

Punters can place pre-match or live bets on ongoing games, from its desktop site, mobile site, or dedicated betting apps. There are features like the `Cash out´ option or `Bet calculator´ which players can access anytime.

The website offers a huge range of payment options, including mobile wallets, prepaid cards, bank transfers, credit/debit cards, and is also PayPal certified.

Cricket betting in Sri Lanka

Cricket has enjoyed a lot of popularity in Sri Lanka, especially after the famous World Cup win of 1996. Given its popularity, it is obvious that it is one of the most sought after sport to bet on in the country.

Today, thanks to betting sites, Lankan fans can not only bet on the results of a cricket match but also on various other markets like runs in a PowerPlay, method of dismissal, runs in an over, top scorer of the match, man of the match, etc. With so many betting websites offering live betting options, the possibilities of betting markets are endless.

Today, cricketing betting odds is available all year round, thanks to various cricketing leagues. While the IPL and Big Bash enjoy the greatest popularity, online betting sites also accept bets on other leagues like the Caribbean Premier League, Super Smash, and Mzansi Super League. The Sri Lankan Premier League and the most recent Lanka Premier League also has a steady fan following among punters.

Many dedicated websites on the internet regularly put out cricket betting tips which can greatly help punters keep up to date with the latest developments, and also the ongoing odds for various markets.

Bet365

Bet365 Site Review

Bet365 was founded in the UK in the year 2000 and currently employs more than 5000 employees. The site is regulated by the Malta Gaming Authority and is used by more than 53 million players across the globe.

The site has a huge selection of sports to bet on. They are a mix of popular sports like cricket, football, tennis, horse racing, greyhounds, and basketball, as well as niche sports like darts.

The number of matches available to bet on in sports like football is huge and includes all popular FIFA tournaments and European leagues. Many division 2 tournaments from countries like Qatar, Syria, and Iran, and leagues from India like the Indian Super League are also available for betting.

Cricket fans can bet on all major T20 leagues, women’s leagues, bilateral series, ICC tournaments, test matches, ODIs, and regional matches.

The site has betting markets for international lottos like the EuroMillions, the Irish lottery, and the Spanish lottery to name a few, where punters can place bets on markets like `First number drawn´, `First drawn Odd/Even´ etc.

On bet365, you get great flexibility in the types of bets that you can place, including single bets, and accumulator bets. There is a bet builder option, wherein you can bundle up to 6 different selections in a single bet on games like football, tennis, and basketball. Players have the option to cash out of certain bets, and can also edit their bets after they have been placed, in case they change their minds.

Bet365 probably has the best live streaming of games among all the online betting sites. Punters can enjoy thousands of live games each year, on the go on dedicated apps for iOS as well as Android devices, complete with in-game statistics and analysis, which greatly enhance the live betting experience.

Bet365 has a dedicated casino section too, where players can enjoy casino games like roulette, baccarat, blackjack, etc. in a `live´ casino, complete with HD streaming and professional croupiers, dealing cards, and spinning wheels in real time.

How to choose best betting site in Sri Lanka

There are lots of choice of sites that offer betting but it is important to choose the best. Before choosing your betting site one should always look for:

  • Welcome offers
  • Customer Service
  • Payment / with drawl method
  • Reliability/ Trust
  • Sports and leagues they offer
  • Payout and odds

In our opinion Betway and Best365 are the best sites for betting in Sri Lanka.

How to bet

Online betting is a simple and rather straightforward process. All you need is a computer or a mobile device, and a stable internet connection.

  • Creating an account: The first thing that you will need to do is register an account with any of the good and reputed betting sites. Most sites will ask you to enter personal details like full name, address, contact details including e-mail id and a valid mobile number. Be sure to enter all the details correctly, in order to avoid any problems during withdrawals. You may also be asked to enter your choice of user name and password, as well as the preferred currency.
  • Making a deposit: Once your account is created, you will need to make a deposit using any of the available methods on the website. Most sites accept Neteller, Skrill, AstroPay prepaid cards, transfers via debit/credit cards, and bank wires. Do remember that your withdrawals will be routed via the same method that you used to make the deposit. So choose the deposit method accordingly. Also, at this stage, do not forget to take the advantage of various welcome bonuses offered by the sites.
  • Start betting: Once the amount is deposited in your betting account, which is instantly in most cases, you can start placing bets by selecting your favorite sport. Select the market you want to bet on, the type of bet you want to place, and enter the stake amount. These details will be entered in your bet slip. Confirm the details and your bet is placed.

How to deposit on betting sites in Sri Lanka

Below, you can find the most common and prefered methods provided by the best betting sites in Sri Lanka. As you can see, together with the classic VISA and Master card, punters can choose from various eWallets like Srill and Netwllwr, Bitcoin payments are also possible:

  • Visa
  • Master card
  • Maestro
  • Entropay
  • Neteller
  • Paysafe
  • Paypal
  • bitcoin
  • Bank Transfer

Paypal betting in Sri Lanka

To avoid unnecessary risks, punters often use the paypal services in Sri Lanka. That is one of the most reliable systems for online payments. Besides being extremely safe and customer-orientated, the service also ensures fast and often costless transactions. Luckily, the PayPal betting is allowed in Sri Lanka.

You can make your deposit and withdrawal with paypal within no time after you have created your paypal wallet. Creation of payplay account might take 2-3 days as you have to verify your personal and bank details but once its done you can easily deposit money using paypal.

Sri Lanka betting FAQ

Sadly, none of the betting sites in Sri Lanka accept LKR as a deposit or withdrawal currency. You can however make deposits in other currencies like USD, GBP, Euro, and even Indian Rupees on most websites. Deposits made via bank transfers or cards will be directly converted to your chosen currency at market rates plus a conversion fee. You can also use international wallets like Neteller and Skrill to make payments. But be sure to enter the same currency on your ewallet and betting account to avoid additional charges.

Yes, online betting in Sri Lanka is absolutely safe, provided that you are dealing with a reputed website. All the websites detailed here are regulated by reputed gaming authorities like the MGA and UKGC. Before creating an account and depositing money with any website, it is always advisable to conduct proper research regarding the authenticity of such sites.

Betting websites use safety systems like SSL encryption in order to keep the personal as well as financial data of their users safe.

Yes, betting websites do pay you with real money. Being regulated by gaming authorities means that they are bound to pay out the winnings as advertised, or else they risk paying huge penalties, or in some severe cases, even suspension of their licenses.

As mentioned earlier, the laws in Sri Lanka are pretty loose in terms of implementation, and there are no cases or convictions for online sports betting. However, if you wish to keep your betting activities discreet, it is advisable to use e-wallets like Neteller and Skrill to carry out transactions. Not only are they fast, safe, and easy to use, but they will also help you avoid entry of betting site transactions in your bank or credit card statements.

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