Bermuda Gambling Sites and Taxes
Bermuda has been a top tourist destination for many years.
Measuring in at just over 20 square miles and boasting a population of approximately 64,000 people, this sunny island in the Atlantic is ranked 9th in population density.
Bermuda is host to about 650,000 visitors each year with the majority of those tourists being American, which is almost the same situation as in Panama’s case.
Up until very recently, visitors and locals have not been able to enjoy casino games.
In 2014, the government introduced the Casino Gaming Act which legalized gambling with the exception of poker.
The Bermuda Casino Gaming Commission started accepting applications for casino licenses but the number of casinos is limited to 3.
These establishments must be operated as part of hotels. This change should bring employment as well as much-needed revenues to the area.
While most forms of wagering have traditionally been illegal, a few brick and mortar sportsbooks have legally operated here for many years as have bingo halls.
Due to the fact that there have been no gambling licenses issued to Bermudan online gambling sites, there are no legal online betting operations based in Bermuda.
Top 10 Gambling Sites for Bermuda in 24 April 2024 – Updated List
What are the Best Bermuda Gambling Sites and Promotions?
Despite Bermuda’s gambling legislation, residents who choose to gamble at online casinos are not prosecuted. International gambling companies that offer their services to Bermudan players are also not prosecuted and their websites are not blocked. The gambling market in Bermuda may be rather small but there is no shortage of gambling sites that offer their services to residents.
Some of these offer excellent sign up bonuses as well. Betsson, Sportingbet, and SBObet are a few of the other brands that are popular with Bermudan players. Some of the biggest gambling bonuses for Bermuda internet gamblers are found at Play Grand Casino.
This casino offers casino bonuses up to €10,000 and $10,000 respectively. These bonuses and many more that are available to Bermudan punters are found on Gamblingjudge.com’s promotions section.
How Regulated is the Bermuda Gambling Market?
With the exception of sports betting and bingo, gambling has traditionally been illegal. Even cruise ships that entered Bermudan waters were required to suspend casino operations onboard. With the introduction of the Casino Gaming Act of 2016, the future of legal and regulated gambling in Bermuda looked brighter.
We do know that despite the past prohibition on betting, Bermuda’s online gambling community and the biggest betting companies that serve them have not been interfered with. This non-enforcement is likely to continue.
In 2018 The Bermuda Casino Gaming Commission published the Casino Gaming Regulations 2018, designed to guarantee games are fair, honest and played with “security and integrity” as well as “sound operational and financial controls” in casinos.
Is Gambling Legal in Bermuda? What is the Legal Age?
For years, Bermuda gambling laws have allowed sportsbooks and bingo halls to operate, and still, is online bingo fixed? In 2014, the passing of the Casino Gaming Act essentially legalized gambling there. The law allows for three casinos to operate. The legal betting age in Bermuda is 18. Due to the small number of gambling licenses available, it is unlikely that we will see legal betting sites basing themselves here.
Does Bermuda Tax Gambling Winnings?
Gambling winnings are not taxed in Bermuda. The new gambling laws have provisions for taxing operators. This new tax revenue stream will bolster the government’s coffers and was one of the main reasons for legalizing wagering in Bermuda.
What Currencies and Payment Method do Bermudan Players Generally Use?
The Bermudan Dollar is the official currency of Bermuda although the American Dollar is also widely accepted and others like the Mexican peso. For Bermudan customers making online deposits and withdrawals at internet-based casinos, major credit/debit cards like Visa and Mastercard are popular methods as are prepaid credit cards.
EWallets are common options and most online casinos accept Skrill and Neteller as well as WebMoney instant banking and bank wire transfers. Bermudan online players are urged to check with their internet casino to find out what payment options are available.