Sports betting is quite popular in Sri Lanka and the state absolutely understands how much it means to the citizens to be able to place sports bets. While gambling is legal, there is still a lack of regulations regarding online sports betting. Be that as it may, Sri Lankans are free to place sports bets whenever they want.
Luckily, there are many foreign sports betting sites in Sri Lanka and the options are vast. Bettors from Sri Lanka can enjoy placing bets on various sports all the while having great odds. But in a sea of options, what sites to choose? Read on to find out the best sports betting sites in Sri Lanka for 2023 and what to expect.
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There are no licensed bettors registered in Sri Lanka. However, betting on sports such as cricket, volleyball, football, tennis, and rugby is very popular. In general, this situation could improve if online betting is legalized. Meanwhile, those interested in sports betting can use the services of unrestricted companies. There is no legal impediment to that.
Modern laws do not allow the operation of online sports betting companies in Sri Lanka. Gamblers and sports enthusiasts can only use the services of unrestricted or foreign sports betting websites. In the online sports betting directory, resources such as Betway, 888Sport, and Karamba are popular and these sites are widely used by sports bettors around the world.
Is Online Sports Betting Legal in Sri Lanka?
Gambling in Sri Lanka is legal. In 2010, a law was passed making all forms of gambling legal in the country. That being said, there is a lack of regulations toward online gambling, sports betting included. Sri Lankan bettors still can access foreign betting sites without any problems.
Although easy, gambling online in Sri Lanka should not be taken lightly, as there are many things that we put at stake: our privacy, bank details, money, and of course, entertainment. There are a few things to keep in mind when choosing the best betting site in Sri Lanka in 2023.
The first step to finding excellent bookmakers is to do a little research online. Players should look for classifications or rankings of the best football, cricket, volleyball, and other sports betting sites in Sri Lanka. This step is essential to give you a first look at the platforms that lead the market.
Every online betting house must present a gaming license. Said document authorizes the company to operate games of chance or bets in a certain jurisdiction. If you play in a house that does not have a license endorsed by a government agency, you may be exposed to any kind of fraud. Also, it is essential that you verify that the page works under data encryption programs or with software that promotes fair and responsible gaming.
Before deciding to place bets online after reviewing the legality and security of the site, you should dig a little deeper. Knowing the trajectory of the bookmaker where you will eventually register never hurts. This way you can find out specific information, such as: how many years this server has been operating, which companies it is associated with, what are the biggest prizes it has awarded along the way, etc.
In addition, you can find news that indicates if it has been involved in controversy or fraud. Also, it is important to know the opinions and experiences of other players with the respective server.
Currently, we can find a wide number of disciplines at sports betting sites in Sri Lanka. Therefore, you should not settle for sites that offer a limited selection. Thanks to the development of communication technologies, we can now place live bets on our favorite sports. Even virtual sports and esports betting have become increasingly popular.
Football bets, of course, can never be missing from the house, just like cricket, basketball, tennis, volleyball, horses, and Formula 1, all of which punters from Sri Lanka love to bet on.
To issue bets online, we previously need a secure payment method to enter and withdraw our money. You should not overlook this aspect if you want to make payments completely anonymously and immediately, without having to provide your bank details. This is especially true in Sri Lanka as people have to access foreign betting sites.
There are many payment networks that can help you top up your betting account in the easiest and safest way. Make sure they are companies with some recognition in the national market and that they are supervised by official entities.
The steps to start betting online in Sri Lanka are really very simple, probably a lot more than you might think when you’re outside of the sports betting scene.
The first thing is to choose the sports betting site in Sri Lanka where you wish to place your bets on – an action that must be studied and analyzed to the fullest. In no way should this part of the process be minimized or underestimated, since a bad choice will inevitably be a problem in the future.
We must be clear that the chosen bookmaker has to meet several requirements of different types. Among the factors worth observing in order not to make a mistake, the following stand out: reliability, security, range of bets, customer service, collection and deposit options and live betting.
Taking into account that we will deliver personal data, credit card numbers, and bank information, for example, it is important to emphasize that it is a financially solid and stable company, capable of providing all the guarantees to its users.
With the operator selected, it is time to complete the registration, something really very easy that is usually done quite quickly. To begin, logically it will be necessary to indicate names, surnames, nationality, address and postal code, city and country, date of birth, telephone numbers, and email address. For security reasons, it is usual that a copy of the passport or other document that proves identity is also requested.
Finally, you have to choose a username, its respective password, and some secret questions (with their answers) that will be used in case you forget the password or to make money transfers, in addition to the monetary unit that will be used to bet.
Likewise, it will be necessary to check the famous “I have read and accept the terms and conditions”. In that sense, the advice is to read them from beginning to end.
Once the account has been created, what follows is to make the first deposit through one of the possible methods (credit card, bank transfer, or other). Depending on the medium chosen, the money will be available instantly or will have to wait.
If the first happens, we will be ready to play the first slips and debut in the exciting pastime that is sports betting. It is worth making that clear: it is entertainment to pass the time and only for adults.
In case of any doubt, the bookmakers in Sri Lanka have good customer service, and also with detailed sections of frequently asked questions and general provisions, by means of which it is usually possible to solve many problems and inconveniences that may arise when starting this adventure.
We must not lose sight of the fact that, with few exceptions, sports betting gives long-term results, so that self-control and a good betting strategy sustained over time will make up one of the main keys in the search for good results.
There are many sports that are popular in Sri Lanka and bettors love placing bets on them. And while the country does not have huge successes in most sports, the amount of sports bets is surprisingly very high. Among the most popular sports, Sri Lankan bettors love to place bets on:
Undoubtedly the most popular sport in the world. Football, a very popular sport in Europe, Africa, Asia, and the Americas, has a worldwide audience of 3.5 billion. Naturally, Sri Lankan punters love to predict football games’ results.
Cricket, the most popular sport in Sri Lanka, is also the second most-watched sport in Asia. With over 2.5 billion spectators around the world, cricket is the most popular sport in Asia, Australia, and Europe, especially in the United Kingdom.
Hockey is played across Europe, Africa, Asia, and Australia, and has a worldwide audience of over two billion. Placing hockey bets is not possible in every sports betting site in Sri Lanka, therefore the bettors will try their luck with those that do.
Tennis is one of the few solo sports in the world that attracts a large number of spectators in Europe, Asia, and the United States. It has attracted over a billion viewers worldwide and is incredibly popular for sports betting due to its easy guesses.
Volleyball, the national sport of Sri Lanka, attracts a large number of spectators from the Asian region, the US, Australia, and the European region, including Sri Lanka. Needless to say that this sport is incredibly popular to bet on.
Asian, European, and American Table Tennis have become popular all over the world as a solo sport and are increasingly becoming popular in the African region. It has around 850 million viewers worldwide but also many Asian players love to bet on it.
Despite its failure to gain much popularity in Sri Lanka or in many parts of the world, baseball continues to gain immense popularity in the United States and Japan. Be that as it may, many punters in Sri Lanka love to place single bets on baseball games purely for financial reasons. It also has a worldwide audience of over 500 million.
Sri Lanka is one of the few countries in the world where football is not the most popular sport. Sri Lankans love to bet on cricket, horse racing, and volleyball. Of course, there is football as well but in this case, we will go through the most popular types of bets for the above-mentioned sports.
Betting on cricket is similar to betting on other sports. The bettor can place a bet on a result in the match along with other specific markets of the game, using the odds provided by the bookmaker. This is very good news to Sri Lankans as they love cricket nevertheless. Here are the most popular types of bets for cricket:
Simply choose which side will win the match. It can be by intuition, the form, or by the conditions. It’s pretty routine and in the same format as any other sport.
Again, this is pretty routine. Select the batsman who will score the most runs per round or in the game. This can be broken down into three markets: Game Leading Hitter, Team A Leading Hitter, and Team B Leading Hitter.
The same process requires the top pitcher, simply select the pitcher that will knock down the most wickets. This can be broken down into three markets: Game Leading Pitcher, Team A Leading Pitcher, and Team B Leading Pitcher.
This can be for a full lap or a specific period of the match. For example, a player can place a bet on the number of runs he will score in the opening and so on over the 10 wickets. However, it can also be used for the number of runs scored in a particular session. In the shorter formats of cricket, popular markets include the number of runs that can be made when ground restrictions apply in the early stages of the match.
This can follow the same pattern as runs scored, but with runs replaced by wickets. When will the first wicket fall or how many wickets will fall in a period of the game?
As with any sporting event, there is a market for the man of the match. Simply choose the player you think will be the man of the match, with the odds available.
Volleyball odds are available in almost all national and international professional competitions around the world, and the outcome of the match is the most common type of bet among fans of the sport in Sri Lanka. However, there are also many direct markets available, as well as other niche bets on singles, such as the popular sets handicap bet, which we will discuss below.
The easiest and most common type of volleyball bet is to predict the outcome of the match. Many people in Sri Lanka prefer to bet on volleyball over other team sports like football as there can only be two outcomes as there is no chance of a draw. In order to maximize winnings from match results betting, many bettors often choose multiple bets such as doubles, trebles, and accumulators, all popular ways of doing it.
The other very popular type of bet in volleyball singles matches involves the sets handicap. Basically, this means that you can bet on a certain team to win a minimum number of sets. You’ll get the best odds on a team winning by three sets (i.e. 3-0 or 4-1), although you can also bet on a team winning by two sets (i.e. 3-1). Again, this is a good way to get more value out of your bet than you would normally get on a single match result bet, though again many people choose multiples.
If you are not convinced which team will win a particular match, or even want to remain neutral while watching it, betting on the total number of sets is a good general interest bet. If you think it will be a very close match, then go for five sets, but if you think one team will beat the other easily, go for three only.
Similarly, betting on the expected total points in a match can also be a good way to get the thrill of a bet while staying impartial about the outcome. Again, if you expect a very close and even game, go for a high number of points, but go for a low number if you think one team will have the advantage.
To get more life out of your bet, you can choose to place a bet on a team to win a certain competition (for example, the Olympics or the Champions League). Obviously, this can make for some very challenging odds for you, especially if you’re not backing the tournament favorite.
You can get odds on all the major indoor volleyball and beach volleyball tournaments around the world, which can bring an extra level of excitement to any tournament you choose to follow and watch.
In horses, as in most sports, we find two main types of bets: simple bets and combined bets. In the simple ones, we will only take into account the participation and result of one horse, while in the combined ones there will be two or more horses involved in the result of our bet.
In total, we have 9 different bets, 4 simple and 5 combinations. Let’s see what they are:
When it comes to the ways that both bookmakers and bettors in Sri Lanka win money, you will have to know about the odds and margins provided by such sports betting sites. If you want to become a successful bettor you must follow the same rule, you must be very careful with your “bankroll” and thus not lose your money to betting portals. Here is how the main bookmakers available in Sri Lanka calculate the margins to continue making profits without taking into account the result of each match.
It is not a secret, there are several ways to denominate the margin – be it the percentage, the cut, or the commission. It is all the same, the part that the betting portals take from each odds. Despite the fact that there are many bookmakers on the market today, they all have one thing in common, they are not risk lovers and all their movements are carefully calculated. They do not establish the odds based on their particular favorite in a certain event, they always seek to establish it in a strategic way that allows them to attract bettors from both sides of the market.
How the bookmakers make money is the margin. This is the percentage of money that bookmakers take away after taking into account both wins and losses in an event. Although it may seem like a small amount, with hundreds of events and bettors a day, the business becomes one of the most profitable.
Let’s see it with an example, we will use as a reference an event that bookmakers consider as “even-money”. In these cases, they consider that the event in question will attract both sides of the market and will attract the attention of bettors at 50%-50%. If, for example, we toss a coin in the air one after the other, the probability of it coming up heads or tails is identical, 50% for each option. Transferring this example to the betting industry, if the different houses did not take their part, their margin, you would be obtaining a return on your investment.
Bookmakers are obviously in the business to make money, which is why they offer odds ranging from 1.85 to 1.99 when it comes to an even-money event. Going back to the coin example, it is likely that we were offered an odds of 1.90 for each of the two options, which means that for every $1 we bet, we will receive on average $0.90. Where does the remaining $0.10 go? Obviously, that is the margin of the sports betting site in Sri Lanka.
Decimal odds are the most widely used format in the betting industry due to its simplicity. In fact, the bettor can easily calculate his potential profit, multiplying the stake – that is, the money wagered – by the decimal quota.
It is important to understand that this method tells us what our gross earnings would be. Let’s take an example: if a player bets 5 dollars in favor of Sri Lanka at odds of 1.7, his gross profit would be 8.5 dollars. This does not reflect the actual (or net) profit because it includes the initial stake. To calculate the net profit, it is necessary to subtract the money wagered. In our example, the net profit would be 3.5 dollars.
There are different types of bonuses that sports betting sites in Sri Lanka offer to their bettors. Below we will explain the main characteristics of the most popular ones.
No deposit betting bonuses are those for which a prior deposit is not required by the Sri Lankan user. These sports betting bonuses grant the clients of the operators that offer them favorable conditions to place their bets. They are mainly used to attract new customers to the bookmaker.
They usually offer cross-promotions with casino games. In other words, a no deposit bonus for sports betting will surely bring you free spins for casino games. This is not all, since in most sports betting sites in Sri Lanka, these types of best bookmaker bonuses are not compatible with other bonuses or promotions.
The welcome bonus is another of the betting house bonuses that you can find in the Sri Lankan operators. This is the extra amount that bookmakers offer us for playing in them. It can be reflected in the amount they offer, or with the additional percentage.
If you want to benefit from this type of sports betting welcome bonus, you will normally have to make a minimum first deposit. In addition, it will also be necessary to comply with the rollover, which is the essential requirement to be able to withdraw the winnings obtained with the bonus. For example, if you deposit 100,000 rupees for the first time, the bookmaker will give you an additional 100,000 to place bets (100% matching bonus). The percentage can go lower, for example, 50%, or higher (200%), although rarely.
Free betting bonuses are those that grant an amount of money in the user’s account to be able to invest in a bet. However, we cannot forget that it will be necessary to meet a series of requirements in order to release the promotion and make use of that free bet. In free bets bonuses, the amount of it will be deducted from the winnings obtained.
Below we will explain the requirements to which the bonuses are subject and what each of them consists of.
In the different sports betting sites in Sri Lanka, there are different types of sports betting bonuses: they can be bonuses without deposit, bonuses with free bets, also bonuses in which they offer you a percentage of the amount you have deposited, etc. Likewise, the amount of the same can vary a lot from one operator to another. Thus, the best betting house bonuses offer attractive conditions to their users. Sometimes this will allow the number of your bets to be increased according to the type of bonus you select.
The minimum odds of sports betting bonuses in Sri Lanka are other requirements that you must meet in order to benefit from any of them. In order to release the bonus, depending on the operator, the number of your bets must be equal to or greater than a certain amount.
Better known as rollover, the wagering requirement is the “commitment” of wagering that the bonus has. Thus, in order to release the bonus, the requirement to bet will mark the number of times that the deposited amount has to be wagered. This must be met when wagering to convert a bonus amount into cash for withdrawal.
Another point to take into account is the validity period of the bonus. Bonuses offered by sports betting sites in Sri Lanka usually have a fixed duration. This means that during the time that the offer is active, we can benefit from its conditions. Once that period is over, the bonus will no longer be active, and users will have to wait for a new one to take effect.
NOTE: Let’s take an example: In a bookmaker, you will get a 100% bonus after making your first deposit. To do this, you must have previously registered and have your account verified. So, you have decided to make a deposit of 100,000. This means that with this sports betting welcome bonus, a total of 200,000 should be available on your account. If the rollover of the bonus is 10 times the amount of the bonus, you would have to wager 10 x 100,000 to clear the bonus.
In order to place sports bets in Sri Lanka, it is necessary to have some money on the betting account. To deposit money (and withdraw as well), players need to select one of many money transfer options. In Sri Lanka, there are plenty of options to choose from and we can categorize them into – Bank transfers, e-wallets, and cryptocurrencies.
✅ Credit or Debit Cards – All bookmakers accept this method because it is one of the most traditional for those who enjoy placing bets online in Sri Lanka. You can use VISA and MASTERCARD cards.
In favor: they are 100% secure transfers and you should not be afraid that your money can be stolen. The bookmakers are “PCI-DSS compliant” and this means that their transactions with credit and debit cards are completely secure.
Against: on some occasions, your transaction will go through the so-called “secure terminal” and you will need to insert a coordinate code provided by your bank, or a code that you will receive on your cell phone, so it can be done a little slower the deposit process. For withdrawals, it can take up to 7 days for the money to arrive in your account.
✅ E-Wallets – It is already very common to find bookmakers in Sri Lanka that allow deposits through e-wallets. This is because they have several benefits compared to users’ bank accounts. Its objective is exactly the same as that of a card (either credit or debit), that is, the purchase of goods and services. However, there is a fundamental difference.
When you use the card, you access your account number directly, but with the e-wallet, the payment is made through an intermediary. This intermediary can be an app or another page. This page would already have your data preloaded and you could make the payment directly.
Advantages of E-Wallets
Disadvantages of E-Wallets
There is a large number of electronic wallets that you can use to place bets on your favorite sportsbooks. Now we show you the most popular:
✅ Cryptocurrencies – These are digital assets and are used in value exchanges. This way we find a currency that does not depend on any bank or institution. It means that it is decentralized. Therefore, no government entity in the world has control over it.
These use a cryptographic system. With which transactions are secured and their creation is controlled. In this way, by remaining limited, its value can increase according to its use. The first virtual currency that appeared was bitcoin, in 2009. It is considered the forerunner of many, due to the appearance of others in the following years.
When placing your bets with bitcoin you find a very strong and decentralized encryption system. This is known as the blockchain and is responsible for keeping the information safe and an infallible record. Also, transfers with cryptocurrencies are lightning-fast and there are no fees included.
This cryptocurrency with which you can bet with bitcoin in your bookmaker came about as a response to a crisis, such as the decision to print bills without control. They were measures taken in order to save the banks. Thanks to that you can now use it freely in your bets with bitcoin in your favorite houses in Sri Lanka.
What Is the Best Payment Option for Sri Lankan Players?
When all is summed up, cryptocurrencies are the best in all aspects except one - they are still not as widespread as the other options, both in sports betting sites in Sri Lanka and among bettors. Those who deal with crypto will benefit a lot when they find a bookmaker that accepts such currencies. On the other hand, e-wallets are widespread and offer great services but at a small cost. Credit cards are also safe and widespread but they take way too long to withdraw money.
At the beginning of the previous decade, Sri Lanka legalized all forms of gambling.
Gamblers from Sri Lanka are widely accepted and gambling online can be as safe as possible. All that is necessary is to find a safe gambling house.
Like all forms of gambling, sports betting is safe in Sri Lanka. There are many bookmakers available to Sri Lankans, most of which are quite reputable and in business for a long time. However, there are always unsafe betting sites. It is important to check for a license before creating an account and paying money.
The minimum and maximum deposit and withdrawal limits will be set by the bookmaker of choice in Sri Lanka. Oftentimes, the banking method will influence these limits as well. Before choosing a sports betting site in Sri Lanka, it would be wise to compare the limits and go with the site that best suits your needs. Be that as it may, all sites will offer suitable limits to everyone.
There are no taxes to be paid in Sri Lanka for online sports betting. The state takes 15% of annual turnover from gambling houses, as well as $2.2M per license.
Usually, sports betting sites will transfer the funds immediately from the winning slip into your account. Then it will all depend on your preferred banking method. Cryptocurrencies are the fastest and take several minutes, e-wallets take a few hours (up to 24h), while credit and debit cards and bank transfers take days (up to 7 days).
There are many great sports betting sites in Sri Lanka and choosing one is impossible. Instead, players will find a sports betting site to be the best if it suits their needs – safe, secure, great odds, great selection of sports and markets, suitable payment options, etc.
A huge offer of sports is available to Sri Lankan bettors – they can choose from football, basketball, tennis, volleyball, cricket, martial arts, eSports, and many more.
Cricket is arguably the most popular sport with Sri Lankan bettors. It is the most popular sport in the country and, naturally, many will bet on it. Volleyball and football are also quite popular.
A bookmaker in Sri Lanka will set the odds, represented in decimal numbers, and players will multiply such odds with the money invested. For example, odds of 1.5 x 100,000 rupees = 150,000 rupees of winning (100,000 invested + 50,000 from the win).
Some bookmakers in Sri Lanka will offer free bets as part of bonuses and promotions to their new and existing players. These are quite popular among players and should be collected whenever possible.
In order to collect the sign-up or welcome bonus, it is needed to create a betting account. Upon registration, the company will award you a certain bonus that can be used for further betting.
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