Icelanders Expected to Wager ISK 7.5 Billion During World Cup

Icelanders are expected to spend around ISK 7.5 billion on online betting during this summer’s FIFA World Cup , according to a report commissioned by the University of Iceland Lottery and prepared by the US-based Gaming Compliance International . As reported by RÚV , the report estimates the value of Iceland’s betting market at ISK 51.8 billion in 2025, up from ISK 46.8 billion the previous year. What's the Story? ISK 7.5 billion expected to be wagered by Icelanders during this summer’s FIFA World Cup Icelandic betting market valued at ISK 51.8 billion in 2025, according to a report by Gaming Compliance International Government working group examining licensing models for betting and online gambling activities in Iceland Betting Market Growth GCI chief executive Ismail Vali said the sector has grown to a significant size in international terms. “This is a market that is approaching worth three to four hundred million dollars,” Vali said. “If you put this in comparative size, the market in Iceland is worth more than in Alaska and Hawaii together.” Vali is visiting Iceland to discuss the betting market with stakeholders, including the Ministry of Justice, as authorities consider possible changes to gambling regulation. According to the report, major sporting events such as the World Cup are often used by betting operators to attract new customers. Vali also argued that many users who begin with sports betting later engage with online casino products, where operators typically generate higher returns. “You could win something by betting on football, but you will lose money elsewhere,” he said. Meanwhile, Þorbjörg Sigríður Gunnlaugsdóttir said a government working group is examining whether Iceland should adopt a licensing system similar to those used elsewhere in the Nordic region. The group is considering international models, including reforms recently introduced in Finland. No timetable has been announced for the group’s conclusions or any related legislation. For more on Icelandic policy and regulation, see Iceland Review’s coverage of government affairs . The post Icelanders Expected to Wager ISK 7.5 Billion During World Cup appeared first on Iceland Review .