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Monaco Gambling Laws

Monaco is a small city-state situated on the Mediterranean and bordered by France.

Measuring in at just 2.02 square kilometers in size, it is the second smallest country in the world and with a population of about 38,000 residents; it is the most densely populated country in the world.

Monaco has a reputation for being a playground for the rich and famous and it is estimated that 30% of the population are millionaires.

The country is considered a tax haven and residents do not pay income tax. It is also very well-known for its upscale casinos that cater to the world’s most affluent individuals.

Top 10 Gambling Sites for Monaco [2021] – Updated List

Rank
Casino
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1
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Rating 9.99 out of 10
2
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Rating 9.90 out of 10
3
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Rating 9.81 out of 10
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N/A
Yes
Rating 9.78 out of 10
5
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Rating 9.72 out of 10
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Yes
Rating 9.63 out of 10
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8
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9
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Yes
Rating 9.35 out of 10
10
100% up to €500 + 200 Free Spins
Yes
Rating 9.30 out of 10

The Most Famous Casino in Monaco

Le Grand Casino de Monte Carlo is perhaps the most famous casino on Earth. It was the brainchild of Princess Caroline who saw an opulent casino as a way of getting Monaco out of a financial slump. The first Monacan casino was opened in 1856 but changed locations several times before ending up at its current location and opening for business in 1863.

The casino underwent a series of renovations, upgrades, and name changes but one thing remains the same to this day; the venue is an architectural wonder that caters to the upper class. Today, there are 5 casinos in Monaco and gambling is as popular as ever.

Gambling for Citizens of Monaco

One catch in Monacan gambling laws is that locals are barred from playing at these establishments. Identification is checked at the door and locals will be turned away. This doesn’t mean that Monacans can’t enjoy casino gaming. Monacan gambling laws currently do not address internet gaming and many of the world’s best international gambling companies accept bets from Monacan online casino players.

What are the Best Gambling Sites and Promotions for Monaco?

There have been rumors that France may expand its gambling jurisdiction into Monaco which would have a very deep impact on the gaming industry. However, this is rumor and there have been no concrete plans unveiled.

For the time being, there are no online gaming sites operating out of this tiny country and Monacan online casino fans are free to enjoy their favorite casino games at the highest-rated online casinos in the world. They are also able to cash in on some very attractive bonuses. It is a cinch to collect $50 in casino gambling bonuses at 5 Dimes as well as the €50 bonuses available at BetAtHome.

You don’t need to wear a suit and tie to cash in on the €100 casino bonus packages at BetWorld or Interwetten and you don’t need to be a millionaire to get your hands on the €200 bonuses that await you at Casino CruiseWilliam Hill50Stars, and Carnival Casino. Make sure to check out the promotions section at Gamblingjudge.com and get yourself any number of great bonuses from the best online gaming sites in the world.

Gambling Tax and Legal Landscape of Monaco Gambling

Monaco’s gambling market is largely unregulated. While land-based casinos are regulated and overseen by the Gambling Authority, nothing else is regulated. Poker, bingo, and sports betting are not regulated and there is no lottery.

Internet gaming is unregulated but Monacans are more or less free to gamble online with foreign operators. This could all change is France expands their gambling jurisdiction into Monaco but this is still at the rumor stage.

Gambling in Monaco is legal but it is restricted to non-residents. Identification must be produced in order to enter a gambling establishment here. Online gambling in Monaco is not mentioned in Monacan gambling laws and Monacan players appear to be free to gamble at foreign online gambling sites without any fear. The legal gambling age in Monaco is 18.

The total absence of direct taxation is the main principle behind Monaco’s fiscal system. There are no taxes on gambling winnings in Monaco. In fact, with the exceptions of a VAT and a few other taxes that apply to a few select people, there are no taxes. Companies do pay taxes on profits.

What Currencies and Payment Methods do Monacan Players Generally Use?

Monaco is not officially part of the EU but they do adhere to certain EU policies. The official currency here is the Euro and it is accepted throughout the country. The majority of Monacans looking to make a financial transaction with an online gaming site use credit cards. Ewallet bookmakers and betting sites (i.e Neteller and Skrill) are also widely accepted while prepaid options like Entropay are as well. Bank transfer bookmakers and betting sites are also quite popular methods too.

To sum it up, we recommend using the following bookmakers payment methods for gambling in Monaco:

No matter which option you pick, we recommend sticking with Euro bookmakers and betting sites in order to avoid exchange fees. Also, remember that we have gambling sites by country list too if you ever want to gamble outside of Monaco.

Why can't Monaco's Citizens Play in Casinos?

Further Information

To explain this, we need to go back to 1856. Prince Charles, who ruled the country from 1856 to 1899, prohibited local citizens from gambling to avoid excessive debts. After him, Princess Caroline continued the same ban. Both monarchs wanted to prevent casinos from exploiting local citizens. But they were also aware that casinos were important to the local economy: they, therefore, banned citizens from using them but allowed casinos in Monaco to operate. Today, this ban is strictly regulated by the Gambling Authority, and other than betting on horse races, Monaco citizens are not allowed to gamble.

Will Monaco Gambling Laws Change in the Future?

We answered the is gambling legal in Monaco question above: Now you have learned everything you need to know about the Monaco gambling laws. Therefore, we can talk about the future of gambling laws in this country. To tell the truth, we do not expect any significant change in this regard. Monaco strictly regulates land-based casinos and does not regulate (other than banning them) online casinos. There is no reason for this to change because there is no demand for it. Citizens of Monaco can play at online casinos without any restrictions, so there is no pressure on the government to change the law. Operators, on the other hand, are not interested in moving their business to Monaco because there is no reason fir it: They are perfectly happy in offshore islands where they pay low taxes. Therefore, we do not expect the Monaco’s gambling laws to change in any way in the near future, as there is no demand. But if you want to learn more about this field, read our 2021 updated guide about the top 5 offshore sportsbooks.

Pros & Cons of Gambling Laws in Monaco

PROS

  • Citizens can still use online casinos
  • There is no tax for gambling winnings
  • All payment options can be used for online gambling

CONS

  • Online casinos are prohibited
  • Citizens cannot use land-based casinos

FAQ About Monaco’s Gambling Laws

Like many other European countries, you need to be at least 18 years old to enter the casinos in Monaco.

Other than “proper attire”, there is no specific dress code. You cannot wear shorts or sports shoes. However, you also don't have to wear a tuxedo like James Bond.

We do not expect gambling laws in Monaco to change anytime soon: As explained above, there is no demand for it.

It is as safe as it can be. Land-based casinos are strictly regulated by the government, and you can still use offshore operators (online casinos).

No. According to Monaco gambling laws, all casino or bet winnings are tax-free. Note that this only applies to players: Operators still need to pay taxes.

We Picked the Best Online Casinos for Monaco Citizens

We told you everything you need to know about Monaco gambling laws: It is time to start playing. We already picked the best casino sites for citizens of Monaco, so all you need to do is choosing one & registering today. Make sure to claim your welcome bonus too: You can start playing with a cash bankroll or dozens of free spins. If there is a change in gambling laws in Monaco, we will let you know. Good luck out there!

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