The Republic of Slovenia, though small, has a flourishing crypto economy. A news report has even declared Slovenia to be one of the ‘most crypto-friendly countries in the world’.
Slovenia is home to several crypto casino sites. These are gambling platforms that allow you to gamble using Bitcoin and other digital currencies.
In this article, we explain the basics of crypto gambling in Slovenia and point to the best crypto casino sites in this country. We have also listed important Slovenian laws affecting this industry. If you are a crypto trader or someone interested in online gambling in Slovenia, this article is for you.
Slovenia’s gambling market
Like many other countries during the pandemic, gambling revenues in Slovenia took a worrying nosedive as casinos and gaming halls had to close their operations. However, in previous years, the gambling industry was enjoying a period of steady growth. The hope for a quick recovery lies in the increasing popularity of online gambling and now Bitcoin casinos.
Before the pandemic, the country had directed its gambling industry toward international tourists. The Slovenian government generated gambling-led revenues from foreign tourists and a ResearchGate report indicates that 75% of gamblers in Slovenia were from Italy, Austria, and China before the onset of the pandemic.
Gambling online in Slovenia
Only land-based gambling operators which have concessions for casinos and classic lottery games can run online gambling sites in Slovenia; currently, there are only two.
Taxes on gambling in Slovenia
Gambling taxes in Slovenia are on the high side. There are many calls for a reduction to attract foreign investment and to keep Slovenians playing in Slovenia. Gambling is VAT-exempt in Slovenia.
However, if a player wins over €300 playing conventional games of chance, they must pay a 15% tax on their winnings. Crypto casinos in Slovenia must withhold this tax amount.
Gambling laws in Slovenia
The Slovenian Gambling Act has clearly explained the meaning of gambling and related terms to avoid any room for confusion. Here are the main points.
- According to this Act, ‘gambling is an economic activity involving games of chance’. The same Act defines ‘games of chance’ as activities where all players get the same chance of winning the prize money offered by the operator.
- The Gambling Act also lists what the various ‘classic games of chance’ are. These games include bingo, lotteries, raffles, and numerical lotteries. This list doesn’t talk about crypto games.
- In addition, this Act also dwells upon ‘special games of chance’, which are played by gamblers against the casino or amongst themselves. The Gambling Act specifies that special games of chance must always be conducted in casinos and involve balls, dice, boards, cards, or slot machines.
- Slovenian law doesn’t differentiate between online games and the ones we discussed above. Online gambling is merely the digital way of offering classic and special games of chance.
History of gambling in Slovenia
This country’s gambling history has seen several twists and turns in the last one hundred years. The earliest official record of gambling in Slovenia dates to 1913 when it was controlled by the Austria-Hungary monarchy. It was the same year that Slovenia’s oldest gambling parlour was built.
Since the monarchy patronized this casino, it flourished and attracted other members of the local communities.
Targeting foreign tourists
In 1943, Slovenia became part of the Republic of Yugoslavia. Three years later, the Yugoslav government allowed bingo and other games of chance to continue but only for ‘humanitarian purposes’. Furthermore, winners could receive prizes, but only one kind.
All this time, Yugoslavia’s borders were open to foreign tourists. The government realized that tourism was a useful source of foreign currency and that tourism revenues could be used for national development. Subsequently, in 1962, the Yugoslav government introduced a basic federal law that allowed cash payouts.
Amending the federal law
In 1965, the Yugoslav government amended the federal law which allowed the republics to grant licenses to ‘working organizations’ in specific fields to organize games of chance.
The same year, Slovenia, which was still part of Yugoslavia, passed its own Gambling Act. This Act, which was based on federal legislation, allowed wagers to be accepted in foreign currency but barred Slovenians from gambling. Any violations of this rule attracted fines, imprisonment, or even expulsion.
Gambling Act of 1965
Slovenia’s Gambling Act of 1965 allowed casinos to open only in tourist destinations. However, to possess a gambling license, tourist destinations had to meet several conditions, such as having 100,000 beds. Another requirement was that destinations must have 200,000 overnight stays by foreign tourists per year. Only two tourist destinations met these requirements.
The first Slovenian casino had already opened in Portoroz in 1964 and the next one opened in 1965, in Bled.
In 1966, the citizens of Nova Gorica, a town near the Italian border, requested the Slovenian authorities to revise the Gambling Act to allow other towns to set up casinos. It took 20 years for this request to be accepted by the authorities.
By the end of 1972, Yugoslavia had 28 land-based casinos, out of which only three were on Slovenian soil.
After independence from Yugoslavia
In 1991, after becoming an independent country, Slovenia allowed its existing casinos to continue operating. Four years later, the country enacted the Slovenia Gambling Act which legalized its casinos. Until then, casinos were known as ‘pavilions for games of chance’.
This Act also differentiated between classic and casino gambling. This legislation specifies that those over 18 can’t take part in casino gambling. However, there is no age bar for other forms of gambling.
In 2012, Slovenia framed its gambling laws by the ‘Zakon o igrah na sreč’Act, which remains the pivot of all gambling regulation.
Slovenian Draft Gambling Act
The Slovenian parliament is considering an amendment to the existing Gambling Act. The proposed legislation has the following measures.
All public concessions and licenses will be granted through public tendering. Currently, the government awards licenses at its discretion.
The draft legislation also aims to increase the number of organizers of the classic games of chance. Currently, there are only two promoters of these games — The Lottery of Slovenia, and the Sports Lottery. Between them, these arrangers hold 20 concessions for different games of chance. According to the proposed legislation, there could be five organizers in the future.
Furthermore, the draft Gambling Act also does away with the provision that new concessionaires must be joint venture partners with the existing players. Applicants for concessions for special games of chance needn’t be based in Slovenia either. However, all promoters of classic games of chance must have a physical presence.
Banking with crypto casinos in Slovenia
Crypto users can send and receive funds from crypto casino sites via BTC and other cryptocurrencies. Several Slovenian crypto casinos have also partnered with Sofort, Neteller, and PayPal.
You can also use bank transfers to fund Bitcoin casinos, in which case the transaction time is up to three business days. However, we recommend e-wallets as the best payment option because deposit and withdrawal times don’t exceed 24 hours.
Players can fund crypto casinos in Slovenia with local credit and debit cards like Activa and Karanta.
Popular online crypto games in Slovenia
Slovenians like playing online slots, crypto games, table games, jackpots, and live dealer games on Bitcoin casinos. Furthermore, all these games come from leading igaming providers in the world, such as NetEnt, Yggdrassil, Microgaming, and Evolution Gaming.
A few top titles that are popular in Slovenian bitcoin casinos are Gates of Olympus, The Wild Wings of Phoenix, Lightning Roulette, and others.
Safety of crypto casinos in Slovenia
Player and payment safety and security are paramount for Bitcoin casinos in Slovenia. As explained earlier, Slovenian-based crypto casino sites must have licenses from the local regulator. Many online gambling platforms, which accept BTC, also encrypt their data and keep your payments safe using blockchain technology. What’s more, crypto casinos in Slovenia encourage responsible gambling.
The best crypto casinos in Slovenia provide 24/7 customer support in the form of Live Chat, via email, or on the phone. These crypto casino sites have detailed FAQ sections that cover topics like deposits and withdrawals, game rules, and account verification. Customers can receive customer support from bitcoin casinos in English, Italian, Austrian and Slovene.
The benefit of playing on Bitcoin casinos in Slovenia
Users can also enjoy all the benefits of Bitcoin and other cryptos gambling on crypto casino sites. Apart from being able to play and win using your preferred digital currency, here are the main positive points.
- An increased level of security means you don’t need to worry about identity theft or your bank or card details being stolen.
- Faster transaction times on withdrawals and deposits.
- Most crypto casinos in Slovenia are ‘provably fair’. The use of blockchain ensures transparency and fairness.
Gambling revenues in Slovenia
Data from the Slovenian government shows that the country’s gambling revenues declined in recent years. Casinos and gambling parlor revenues fell by 52% as the number of visitors fell by an average of 55%.
The same data shows that Slovenia’s gross gambling revenues went down 42% from 2019 to 2020 to EUR 188 million.
In 2020, Slovenia’s concession fees were more than €69 million. While casinos and gambling parlors accounted for €24 million and 19 million, respectively, the two lotteries contributed €26 million.
For many crypto investors, the belief is that coins like Bitcoin and Ethereum will be the future dominant currencies, this is no different in Slovenia. With recent world events and the likes of billionaires such as Elon musk championing alt coins, it’s easy to see why the popularity of cryptocurrencies continues to rise. The possibility of traditional fiat currencies collapsing may seem far-fetched, but with Slovenia’s recent history of instability etched in the mind of many, investing in crypto could be a wise choice.
If you have some unanswered questions, you may find them here. This section contains answers on topics that haven’t been covered in the main article.
How do I register with crypto casinos in Slovenia?
Click the Register button on the homepage and enter your name, email address, phone number, and password. In the next stage, connect your payment gateway to the crypto casino, and make a deposit. You are now a member of your crypto casino.
What is the punishment for running unauthorized crypto casinos in Slovenia?
Unlicenced crypto casino sites are blocked by the regulatory body. The Slovenian government also blocks all payments to and from these unauthorized gambling sites. Any person who violates this rule can be imprisoned for up to eight years.
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