Most Popular Bookies in Sri Lanka

Sports play a big role in Sri Lanka with cricket undoubtedly the most popular, especially the international matches. Sri Lankans are also big fans of rugby and horse racing with football becoming increasingly popular. These sports are where most Sri Lankans place their bets in a wide range of markets.

Best Odds for Sri Lankan Players

Sri Lankan sites mostly use decimal odds which makes calculating potential wins very easy. Players should remember that the better the odds, the better chance a player has of winning, and it is important to seek out the best odds from the best bookmakers.

Odds can change, so timing could be a crucial strategy to gain the most from a bet. Players may discover that some sites are more consistent in offering better odds than others, but it is always good to shop around for the best odds to get the best returns.

By far the most prolific number of matches and tournaments played in Sri Lanka are from the sport of cricket. Cricket is extremely popular and is played at all levels from recreational to professional leagues. Sri Lankan teams play in a plethora of domestic and international competitions, having hosted the Cricket World Cup and Asian Cup many times.

Sri Lanka is a full member of the International Cricket Council (ICC) and as such they participate in test cricket with 11 other countries. They also take part in the T20 World Cup and hosted it in 2012.

The 2 major domestic cricketing events are the Premier Trophy and the Premier Limited Overs Tournament. The Premier Trophy is a first class cricket competition with 11 players on each team, playing 2 innings each, over a 1-3 day period.

The Premier Limited Overs Tournament began in 1988 involving 20 teams that battle it out with a maximum of 50 overs per team. The final 8 play on a knockout basis until there is a winner. This is probably the most exciting of all kinds of cricket as it takes place in one day.

Sri Lankans need to know the best payment options to bet in/from Sri Lanka. As most online sites do not accept Sri Lankan rupees, deposits can be converted to USD, EUR or GBP, but fees will be involved no matter which payment method is chosen. There are quite a few payment options available including bank transfers, credit/debit card payments, a number of e-wallets and bitcoin.

The most popular are MasterCard, Visa, Neteller, Skrill, PayPal, Sticpay, Ecopayz and Paysafe. Bank transfers or credit/debit card payments are completely okay as there are no restrictions to betting online in Sri Lanka, so players need not worry about these transactions showing up on their accounts.

Card transactions are very secure, but withdrawal times are quite long, taking anywhere up to 7 days to withdraw cash after a win. E-wallets are extremely popular in Sri Lanka just like the rest of the world, and they have a number of advantages.

Apart from being widely accepted, e-wallets help to keep players' identities anonymous which could be a very useful thing if the Sri Lankan government were to suddenly change their attitude towards online betting. Bitcoins are also a potential payment option, but not many sites offer this method. Transactions using bitcoins are free and very secure because of the blockchain technology that also keeps a record of all transactions.

After the end of the civil war in 2009, the government saw the betting industry as a potential source of revenue through both foreign investment and the tourism it would generate. With these ends in mind, the Sri Lankan government passed a law in 2010 that effectively set up a regulatory framework for betting shops and casinos.

Due to the sparse internet access in Sri Lanka, there have been no attempts to regulate betting online as it is not that widespread at the moment. These lack of restrictions have meant that Sri Lankans have freely played with their favorite, foreign online bookie.

Land-based bookmakers are legal in Sri Lanka as long as they have a government issued license. All land-based betting was made legal in 2010, but this law did not include regulating online betting.

For this reason, there are no legally licensed online bookmakers in Sri Lanka simply because it is not included in the 2010 act. However, Sri Lankans can easily access offshore sites and are not prosecuted for doing so. Bettors at the land-based betting shops need to be 18 years old to play, and any winnings are taxed at a rate of 14 per cent.

Betting Legislation in Sri Lanka

There has been a long history of betting in Sri Lanka, especially on horse racing, and the first legislation was about how much tax should be paid by on-course bookmakers. Another important piece of legislation was passed in 1988 that also dealt with the amount of tax that bookmakers should pay.

This act has been amended 6 times, with each amendment increasing the levy on the betting industry. The real game changer was the 2010 when all forms of land-based betting was made legal and subject to certain regulations. This law, however, did not aim to regulate online betting but in practice it seems to be tolerated by the government.

Is online betting legal in Sri Lanka?

The 2010 act that legalized betting in Sri Lanka did not mention anything to do with online betting. Therefore, there are no regulations or restrictions on this kind of betting. Sri Lankan players are free to bet online and have not been penalized for doing so.

Is it safe to bet online in Sri Lanka?

As always, betting online is totally safe as long as players pick reputable sites that are licensed by recognized licensing authorities. Sites need to be checked carefully before opening an account with the site.

Do I have to pay tax on my online winnings?

No tax is due in Sri Lanka on winnings from an online betting site. This is in contrast to the 15% tax due in land-based establishments.

Will I actually receive my winnings from an online betting site?

Payments will be made if the site played on is licensed by a reputable authority.

How long does it take to receive winnings?

Winnings are usually transferred immediately to a player's account, but it will depend on the chosen payment method as to how fast you receive them into your bank account. Bitcoin takes a few minutes, e-wallets can take a few hours, but credit/debit cards can take up to 7 days.