Best Betting Sites in Armenia

Sports Betting Regulation in Armenia

New and experienced players can join local and international betting sites in Armenia because sports betting is legal in the country. Before 1992, Armenia offered only two forms of gambling: horse racing and lotteries, with no additional options available. However, following the country's independence from the Soviet Union, Armenia experienced increased freedom in its gambling sector. Consequently, a plethora of new gambling options emerged, providing a diverse range of choices for enthusiasts.

However, it is good to note that the legality comes with certain restrictions established under the 2005 Law on Games of Chance. Sports betting websites can operate in the country, and gambling operators can provide access to Armenian players.

The role of the law is to ensure the gambling industry in Armenia is regulated, and players are protected. The aim is to reduce the negative effects of gambling. Also, it is to prevent underage gambling and all forms of gambling addiction. As a result, Armenia betting sites must adhere to the regulations and restrictions set under the law.

Regulations and Restrictions in Armenia

In Armenia, there are different restrictions when it comes to online gambling. It is important to note these regulatory restrictions before getting started with your betting journey. That way, you can know what being part of the industry entails and can focus your search on top sports betting sites.

• Geographical Restrictions: It is important to understand that even though bookmakers are allowed to operate nationwide, regardless of whether they are online or offline, casinos and slot machines are restricted. Operators who want to offer casino gaming can only do so in specially designated economic zones.

• Single-Event Betting Restriction: Based on the current legal framework, only pool-style betting is primarily allowed, and this is on a restricted selection of sporting events. So, individual wagers are usually combined. Single-event betting, which is very popular among international platforms, is prohibited in the country.

• Advertising Restriction: The country has a major limitation on advertising gambling activities. The current law prohibits operators and marketing agencies from advertising gambling-related content through media channels and other forms. Disobeying this rule can attract certain penalties and fines from law enforcement agencies.

The Armenian Online Gambling Industry

Even though, by law, online gambling is permitted in the country, only one operator holds a licence for online gambling. As a result, bettors in the country looking for the best sports betting site to join must turn their attention to offshore betting platforms or any top-notch VPN-friendly betting sites so they can enjoy the goodies that come with playing online.

Talks have been around the modernisation and proper regulation of the online gambling market in Armenia. Therefore, there might be changes to the market, but there haven't been any major implementations. However, there is hope that we might see more operators enter the scene and provide Armenian bettors with top-notch gambling opportunities.

Key Facts & Stats About Betting in Armenia

• Annual Growth Rate: Based on a recent Statista report, the Armenia betting market is expected to experience a 5.58% CAGR between 2024 and 2028.

• Industry Growth: Following the report from Statista, the market has experienced an annual growth rate of about 5.47% between 2020 and 2023. With this growth rate, the projected market volume for the industry will be over US$31 million by 2028.

• Betting Frequency: Due to limited data, it is hard to tell the average betting frequency in Armenia, especially as most seasoned gamblers in the country play at international bookies. But from speculations, about 75% of the betting population are casual bettors.

• Purpose of Betting: Like in most countries, the Armenian market is filled with bettors who bet for entertainment purposes. It is estimated that between 65% and 75% of the betting population bet for fun.

• Popular Sports: Football is the most popular sport in Armenia. Most of the market share goes to football betting. Based on global estimates, the share should be about 75-85% of the betting activity.

Popular Payment Methods for Armenian Betting Sites

Armenia betting sites have different payment methods offered to players who want to start betting. These payment methods let you start your next betting journey without stress. Although the payment options you'll find at these sites vary from one to the other, there are a few common options you can check out. We've highlighted these options below. Check them out before proceeding.

Bank-Based Methods

You can use various bank-based payment options if you want to complete transactions without worrying about third-party services. With these options, you can fund your newly created account without hassle. For instance, you can choose bank transfer to fund directly from your bank account. Below are some popular bank-based payment methods you can consider.

• Bank Transfers
• Credit/Debit Cards
• Trustly
• Klarna

Pick the right betting site and you can forget all about the rigorous processes that come with most. No, all you need is a suitable payment method and your journey should move smoothly. There are many options to go for so feel free to explore which one suits you best. Once you deposit your funds then you can try different bets and pray lady luck smiles at them.

Cryptocurrencies

Outside bank-based methods, you can join other sports lovers who use cryptocurrencies to fund their betting accounts. Crypto is a secure and reliable payment method that allows players to complete transactions without stress. There are different cryptocurrency options to consider if you want to start your journey. Some of these popular options include:

• ETH
• USDT
• BTC
• LTC

Understand that cryptocurrencies can be complex and the market is volatile. So, before you decide to consider them as your next payment method, you should understand the various aspects of the industry. Once you understand how it works and know what it entails, you can proceed to use cryptocurrencies to deposit and withdraw.

E-Wallets

The best bookmaker sites in Armenia let you use different e-wallet services to deposit and withdraw money. Most e-wallet options allow users in Armenia to deposit without stress because they provide services that allow you to use the local currency to complete transactions. Some of these services also let you use their applications or contact support in the Armenian language.

• Neteller
• PayPal
• WebMoney
• Skrill

These e-wallets work well on an international betting site by the way. They are popularly used due to how simple it is to deposit and withdraw cash from them. All you need to do is find the perfect one, make an account, fund it, and then play! You also have to check if there's a suitable platform that’ll accept your choice so that with just one click, you can make any Armenia bet of your choice without worries.

Most Popular Sports to Bet on in Armenia

• Football (Soccer): Football has a massive following in Armenia. The Armenian Premier League is popular among locals and football fans across Europe and other continents. It is estimated that about 75-85% of the betting population bet on football.

• Boxing: Although it is not as popular as football, boxing also has a large following in Armenia. It is one of the most popular sports to bet on in the country, with local professional and amateur boxers rising through the ranks.

• Basketball: This sport is more popular among the younger demographics and continues to gain support in Armenia. It is speculated that about 5% of the betting population now engages in basketball betting as the Armenian national team continues to represent the nation.

Conclusion

With sports betting legal in Armenia based on the current gambling laws, players can try their luck with online betting. Unfortunately, there is only one locally licensed betting site in Armenia. Because of the limited options, players might have to look to international betting sites for betting opportunities.

However, the good thing is that many betting platforms allow players from Armenia to join. So, you can pick from the different options available and start your betting journey with the best option. We've handpicked a few top sites. You can check them out and get started with your next adventure.