Sri Lanka is an island nation situated in the South Asia region, in the Indian Ocean, to the south of the South Asian subcontinent and to the west of India across the Palk Strait. It was granted independence in February 1948. Over the last few years, betting has gain much popularity in Sri Lanka providing numerous chances for sports fans and gamblers. This ultimate guide will explain the history, legislation, online betting platform and sports betting site for anyone who wants to know about betting sites in Sri Lanka.
Up To £100
Terms Apply
Up To £122
Terms Apply
Up To £130+ £5 Free Bets
Terms Apply
Bet £30 Get £30
Terms Apply
Up To £120+ £30 Free Bets
Terms Apply
Up To £120
Terms Apply
Up To £10015% Free Bets
Terms Apply
Up To £100
Terms Apply
Up To £1000 + £10 Free Bets
Terms Apply
Up To £100
Terms Apply
Up To £150 + Recharge £150 Free Bets
Terms Apply
Up To £100
Terms Apply
Up To £100
Terms Apply
Bet £10 Get £10
Terms Apply
Bet £10 Get £50
Terms Apply
Up To £100
Terms Apply
Up To £130
Terms Apply
Table of Contents
Summary of Key Events
History of Gambling Regulation in Sri Lanka
Gambling is not new to Sri Lanka as there are statutes that have been passed from time to time to govern the activity. The following are some important events that are worthy of further discussion.
- 1889: The Gaming Ordinance No. 17 is enacted that makes unlawful gaming an offense that is punishable by a fine, and/or imprisonment.
- 1983: The Betting and Gaming Levy No. 40 is enacted, which provides taxes on the gaming businesses.
- 2010: The Casino Business Regulation Act No. 17 is certified which outlines the licensing and operational procedures of the casinos.
- 2022: The Casino Business Licensing Regulation No. 1 comes into force, which provides detailed procedures and conditions of the licensing.
These laws provide the basic framework of the gambling laws in Sri Lanka that makes the betting activities to be regulated and systematic.
Regulatory of Betting Sites in Sri Lanka
Gambling activities in Sri Lanka are regulated by several agencies as mentioned earlier in this paper. These include.
- Department of Inland Revenue: Execute the responsibilities of registration and assessment of gaming related business.
- Ministry of Finance: Responsible for the regulation of the issuance of casino licenses.
- Gambling Regulatory Authority (proposed): Its objectives include overseeing of the gambling business and proper taxation of the revenues realizes from gambling.
These agencies collaborate of ensuring that the gambling environment in Sri Lanka is balanced and free from manipulation.
Prohibited and Permitted Bets
It is very important that each bettor knows the kinds of bets that are allowed and the kinds that are not allowed. The following activities are often regarded as criminal in Sri Lanka.
- Cockfighting: Cock fighting is well forbidden and therefore one is not allowed to place bets on it.
- Street Gambling: It is unlawful to bet or to play games of any kind for stakes on any public highway, street, or road.
- Unlicensed Venues: It is unlawful to gamble in areas that have not been issued with licenses.
On the other hand, the licensed casinos and the betting sites allow the players to place their bets on various permissible products such as sports betting, casino games etc.
Gambling Licenses and Fees
To get a gambling license in Sri Lanka, one has to go through a very strict procedure provided for in the Casino Business Regulation Act. Below are the details of the key elements.
- Application Process: Applicants for the license are required to make the application within sixty days from the date of the regulation.
- License Fees: A new license costs Sri Lankan Rupees 500 million, and a renewal also costs the same amount, for five years.
- Regulation Compliance: The operators that have to be licensed strictly have to observe on bookkeeping, employees and activities ban.
These regulations make it possible to avoid the provision of gambling services by unreliable and non-compliant subject in Sri Lanka.
Well-known Betting Sites in Sri Lanka
Numerous credible betting sites are available for the Sri Lankan market. Below are some of the best choices that are available.
Betandyou
Betandyou: Provides you with a number of sports and events to choose from and provides bonuses for new registered users.
Up To £120 + £30 Free Bets
Betmaster
Betmaster: This site is famous for offering a huge number of bets before and during the events of different sports.
Up To £1000 + £10 Free Bets
Melbet
Melbet: It offers competitive lines on sports and casino and offers attractive sign up bonuses.
Bet £30 Get £30
It is vital to note that these platforms are preferred by the bettors due to the friendly interface, many choices of bets and various bonuses.
Important events in Sri Lankan sports history
Thus, the history of Sri Lanka also boasts a number of significant sports events that have become TL;DR important for the nation. Some noteworthy milestones include.
- 1996: Sri Lanka win the Cricket World Cup and it is a very proud moment for everyone in Sri Lanka especially for the cricket lovers.
- 2007 & 2011: The national cricket team is in the Cricket World Cup final.
- 2014: Sri Lanka Wins Cricket World Cup 2011 and Proves Why It Is the Largest Democracy of the World.
- 2016: Sri Lanka also has regional games known as South Asian Games in which athletes from this part of the world come and show their talents.
- 2020: Sri Lanka being a sport loving country jubilates the multiple medal wins in South Asian Games.
These events have helped to boost Sri Lanka’s position in the world of sports competition.
Commemorating the Sri Lankan Sports Personalities
Sri Lanka has also been blessed with many talents who have contributed to the pride of the country. This paper aims at identifying some of the most famous personalities in the sporting world.
- Muttiah Muralitharan: Murali is considered as the greatest Test match bowler ever and he took most Test wickets.
- Sanath Jayasuriya: The ex-cricket captain and one of the best batsmen for this sport in the world.
- Susanthika Jayasinghe: The first Sri Lankan Olympic medalist and a silver medalist in the 200m event at the Sydney Olympics 2000.
These athletes have also not only won for themselves but also set examples and paved ways for upcoming athletes of Sri Lanka.
Gambling Regulatory Laws in Neighboring Countries
To put the matter into a broader context, it is useful to consider briefly the legal foundations of gambling in three neighboring countries.
- India: The laws concerning gambling also differ from one state to another for instance while some states have allowed casinos and lotteries other states have tougher laws against it.
- Maldives: Gambling is unlawful in most cases; however, an exception can be made for tourist zones that provide casinos.
- Bangladesh: Gambling is prohibited, and severe sanctions are applied for the Illegal gambling operations.
Thus, knowing the regional differences, the bettors can get acquainted with the diverse legal frameworks of South Asia.
Conclusion
Betting sites in Sri Lanka has been a means for the people of Sri Lanka to enjoy their favorite sports and placing their bets legally. Due to the fact that gambling laws as well as the regulatory structure of the industry have been explained, the major betting sites have been identified, so that the reader can make rational choices and enjoy a risk-free and entertaining gaming experience.
FAQ of Betting Sites in Sri Lanka
Related content
Betting Sites in Asian: Best Bookmakers
