Sports betting needs no introduction. The fun and excitement surrounding the game become more intense when you bet. After all, you wish to win with the teams! And, if you are Irish, you are one of the happiest souls on earth. Wondering why? Well, that’s because Ireland has one of the most liberal betting laws.
Under the betting amendment act 2015, it is legal to bet through both online and offline modes. However, these are not without their share of terms and conditions.
Let us have a look at 10 rules that you must know before betting in Ireland:
- Age: Age is the foremost rule that you must follow if you are Irish and wish to bet. You must be 18 years or older. Any bet placed by an underage is invalid. It goes against the Irish Gambling Act. Not only you will lose your money but will also be unable to formally register a complaint.
- Regulatory authorities: Betting in Ireland is regulated by the revenue commissioners. They are the license issuing authority. So, before you invest your money in any betting site or bookmaker, make sure that they are registered with the regulatory authorities.
There is no such separate department called the betting department or betting regulatory body. If any site or person claims to have registered with them, then be cautious. They are fraudsters. Never fall for their trap.
- License: A betting bookmaker must have the license issued by the revenue commissioner. It is issued for both online and offline betting. 3 types of betting licenses are issued: retail betting license, remote betting license, and intermediary license for remote betting. So, always make sure that the person or platform through which you are betting, holds a valid license.
For example, if you are betting through an online mode, check that the platform holds a license for remote betting or remote betting through an intermediary license. If it holds a license for retail betting, then the platform is a fraud. You may end up in legal trouble here.
No overseas betting firm can offer its services to Irish citizens without having the remote betting through an intermediary license. Also, if they cheat or turn out to be fraud, you cannot even register a formal complaint with the betting authorities.
- Minimum betting amount: Many bookmakers advertise that they allow you to bet at the lowest limits. Just beware of the fraud here. You must know that licensed bookmakers cannot accept a bet lesser than €0.06. Never even try to indulge in a betting activity where the minimum bid is lower than this amount.
- The validity of the license: Betting licenses in Ireland have an expiration date. They are valid only up to 24 months. After that, they become void. So, if you bet, always check the validity of the license. Simply because the bookmaker or website advertised that it holds a license does not mean that it would be valid. So, to ensure the validity of your bet, double-check with the validity of the license.
- Creating the account: This is always the first step in betting. You must open a real sportsbook account. Fund it through your credit card, debit card, or online money transfer. Keep your sportsbook wallet recharged before placing the bet. Otherwise, your bet may be declared void.
Always open the betting account with reputed platforms. If you prefer the offline way, ensure that the bookie has a strong reputation. If you want to bet online, you can do it through https://www.olbg.com/ie/bookmakers.
- Follow sports-specific rules: Betting covers a wide array of sports. It could be baseball, horse race, dog race, casino, and so on. With numerous tournaments and league matches going on around the world, the betting conditions keep on changing.
It could be as minute as the change in the minimum betting amount or could be the change in the withdrawal method of the winning amount. If you keep yourself updated, it will make betting easier and more fun.
- Paying taxes: Betting while being Irish has its share of perks and benefits. With gambling being legalized, players need not pay any tax on the winning amount. On the other hand, bookies do have to shell out 2.5-40% of the winning amount to the tax authorities.
So, always keep in mind that your winnings are not taxed, whether you got it through an offline or online gateway. If anyone tries to charge something on the pretext of tax, report it to the authorities.
- Casinos are illegal: Yes! You read it right. In a country of no tax over gambling wins, casinos are illegal. Only private clubs are allowed to have a limited number of people betting in casinos. There are no land-based casinos in Ireland.
You may use the online ones. Unless you are registered with a private licensed club, never head to shady casinos. It will only mean losing your money.
- Be cautious with your bank details: Always bet through reputed betting platforms. If you are betting online, you need to be extra cautious about your bank details. Never do transactions unless the payment gateway is SSL encrypted.
The easiest way to know this is by checking if the URL to the payment gateway has HTTPS://. Also, most web browsers show a red flag if the interface seems fishy. Being attentive will help you stay away from scams.
The Final Say
Betting runs in Irish blood. In a country where it traces its prevalence in society, you must know the basic rules. It will help you in enjoying the game more while being in line with the legal provisions. This guide hopes to bring your attention to the lesser-known but important facets of betting.
If you have recently moved to Ireland or taken her citizenship, you will find it extremely helpful. Most punters, these days, prefer the online platform. It has its share of benefits like ease of access, attractive offers, instant withdrawal of winning amounts in a bank account, and enhanced cybersecurity.