Most Popular Bookies in Paraguay

Paraguay is a South American country positioned between Brazil, Bolivia, and Argentina. The country's land area is 406,752 KM2, hosting a population of approximately 7.2 million. According to IMF's economic report, Paraguay is still a developing country. A large percentage of the young adult population has engaged in sports betting at some point, with some being regular sports betting punters. However, most bets are placed on online betting sites.

The popularity of online sports betting in the country has increased over the last decade. That was thanks to technological advances in internet connectivity and website development. In addition, the introduction of mobile sports betting has fueled the industry's growth as the number of smartphone owners snowballed over the last decade.

Most Popular Bookies in Paraguay
Everything you need to know about betting in Paraguay

Everything you need to know about betting in Paraguay

Despite the popularity of online sports betting in Paraguay, only one betting provider operates in the country. However, punters from the country can place bets on several other offshore betting sites that accept Paraguayan bettors.

There are dozens of online Paraguay betting sites today. As such, choosing the right sports betting site is essential as it informs the bettor's overall betting experience. Considering factors such as security, range of sports offered, and quality of customer support services can help with the selection process.

Everything you need to know about betting in Paraguay
Paraguayan Players' Favorite Sports to bet on

Paraguayan Players' Favorite Sports to bet on

Football

The most popular sport in Paraguay, and the entire world as well, is football. That also applies to the gambling world, as most sports bets are usually on football. Football is popular among punters because it offers diverse betting markets. Punters can thus find easy combinations of bets to match their betting strategies.

Basketball

Basketball is another popular sport among bettors in Paraguay. Punters typically bet on the NBA league, the highest level of professional basketball. That is because most sports betting sites usually have limited basketball betting markets, with most not featuring local basketball matches. The high number of bet types for basketball matches makes the sport more popular among punters.

Tennis

Tennis as a game is not particularly popular, judging from the relatively few professional tennis teams in the country. However, it is prevalent among sports bettors for several reasons.

For example, punters can wager on money lines, the set or game spread, and the over/under options, among many others. In addition, according to many players , it is easier to make predictions for a tennis match than in other sports.

Paraguayan Players' Favorite Sports to bet on
Best Odds for Paraguayan Players

Best Odds for Paraguayan Players

Different matches and bet types usually have varying odds. The odds of any game are informed by several factors and may vary in betting sites, even for the exact match. Punters can consider that when choosing a betting site to join.

One of the main contributing factors regarding the odds is the likelihood of a team winning against opponents. The more likely a team or player is to win, the lower the odds for the team or player will be.

Odds offered by the best bookmakers can change in real-time, especially for live games. This is because the changes are based on the real-time happening of a match. Punters should thus have fast internet connections and be fast when betting to ensure maximum chances of getting the best odds.

Best Odds for Paraguayan Players
Biggest Local Tournaments and Events

Biggest Local Tournaments and Events

The biggest local tournaments in Paraguay feature football. That is obviously because of the high popularity of the game. The top football league in the country is the Paraguayan Primera Division. Others include the Division Intermedia, Tercera Division, and Cuarta Division. Several other sports events involve the national teams, which usually attract many fans. Big events and tournaments present numerous opportunities for punters to bet.

Biggest Sporting Events in Paraguay

Over the years, Paraguayan bettors have always demonstrated a liking for the biggest sporting events in the country. Some of the biggest sporting events in the country include:

  • Trans-Chaco Rally
  • Rugby Union
  • Copa America
Biggest Local Tournaments and Events
Payment Methods in Paraguay

Payment Methods in Paraguay

Credit Cards

Credit cards account for over 80% of all deposits made to online sports betting accounts. One reason is that credit cards are readily available to most adults as they use them to make regular daily purchases. Credit cards are also widely accepted by betting sites, sometimes even attracting payment method bonuses.

E-Wallets

Paraguayan punters also use a wide variety of e-wallets to make payments to betting sites. E-wallets are particularly popular because of the convenience of making payments without geographical restrictions and usually with no transaction fees charged for deposits. E-wallets also support the withdrawal of funds from an online bookmaker.

Electronic Bank Transfer

Electronic bank transfer is another popular method, especially for punters who use local betting sites. The payment method offers high levels of security, making it a good choice for sports bettors looking to transact large sums of money.

Bank transfers also usually have high transaction limits, minimizing the number of transactions punters have to make when looking to deposit large sums of money. In addition, electronic bank transfers are generally processed instantly, unlike traditional bank transfers, which can take several days.

Other alternative payment methods that are also relatively popular include mobile payments, cryptocurrencies, and debit cards.

Payment Methods in Paraguay
History of Betting in Paraguay

History of Betting in Paraguay

Regulated betting does not have a long history in Paraguay. Several forms of betting took place in the country before independence, but they were primarily private and among punters.

Paraguay gained independence from Spain in 1811. That did not work well for the gambling industry. Dictatorial leadership took over for the next century, through which all forms of gambling were prohibited for the masses.

The economic and political situation in the country also made it difficult for even underground gambling operations to thrive. For example, a six-year Paraguayan war occurred from 1864 to 1870, with more than 50% of the population becoming casualties.

Sports betting could not be among the interests of the Paraguayans at such times. It was until 1993 that things began to change after democratic elections were held.

After the battle, the adoption of Law No. 1016 was introduced in the country in 1997 and served as a turning point in the country's gambling history. This new law paved the way for the formation of CONAJZAR, the regulatory body tasked with overseeing gambling activities in the country.

As a result, all forms of gambling were legalized, including sports betting. However, the law allowed only one state-owned gambling provider to operate legally within the country.

Online Gambling

Law No 1016 did not cover online sports betting as online gambling had not yet been introduced by the time the law was passed. Online sports betting thus remained unregulated until 2015, when it was made legal. Notably, the online gambling legislation was adopted three years later after legalization.

History of Betting in Paraguay
Betting Nowadays in Paraguay

Betting Nowadays in Paraguay

The online betting industry is thriving, though not as much as in neighboring countries. A majority of online bets placed by Paraguayan punters are on sports. That is because sports are a popular form of entertainment and part of the Paraguayan culture.

Also, most bettors in the country opt to bet on betting sites outside the country. One of the top reasons is that international betting sites offer more betting markets, better bonuses, and lower tax rates than the local betting provider.

A Huge chuck of betting today is done through smartphones, thanks to the convenience offered by this mode of betting. Statistics indicate that more than 80% of Paraguayan punters use their smartphone devices to place bets. That is made possible as most sports bookies have optimized their sites for mobile devices.

Betting Nowadays in Paraguay
Future of Betting in Paraguay

Future of Betting in Paraguay

Online betting and other forms of gambling in Paraguay will likely develop further to match or beat the industry standards in the neighboring countries.

Most of the regulations will be enhanced in the coming years, with all betting activities monitored more efficiently to prevent illegal gambling. There is also a likelihood of changes introduced to gambling legislation, which can help improve the management of the industry and maximize revenues from it.

Expert opinions also indicate that the number of punters in Paraguay will increase. That is because most locals own smartphones, giving them easy access to the best online bookmakers. As a result, the government may increase the tax rates, as has been the trend in some of its neighboring countries, to minimize the overall gambling harm to the nation and maximize revenue from the industry.

Future of Betting in Paraguay
Betting Legislation in Paraguay

Betting Legislation in Paraguay

Betting on sports is usually overlooked in Paraguay, especially regarding the betting options allowed. For example, it is illegal to bet on blood sports and those with financial traps or loopholes that can be exploited. Yet, no legal safeguards exist to curb outlawed sports betting practices.

A great deal of betting legislation in Paraguay revolves around licensing. Betting Licenses in generally issued by the regulatory authority called the CONAJZAR. The law requires betting operators to provide information about themselves to provide online betting services.

Technically, all providers must be affiliated with the only licensed provider and operate under the same license. Some requirements include license application fees and proof of financial capabilities. In addition, the providers need to invest a minimum of $3 million. In most cases, the investors' amounts usually need over $50 million.

Betting Legislation in Paraguay
Betting Acts in Paraguay

Betting Acts in Paraguay

While there aren’t as many betting acts regulating the betting industry, one act particularly stands out. The Law-6903 ‘Ley de Tragamonedas, passed in April 2020, aims to regulate slot gaming, with a particular interest in protecting minors from gambling-related risks.

One of the primary additional legal requirements is all punters must be 18 years or older to wager at an online bookie. The minimum allowed age can be higher in some sports betting sites, typically 21 or 24. Online betting providers are responsible for ensuring all players are of legal age.

Another additional legal requirement relates to advertisements run by online betting providers. Specific outlines guide the best bookmakers regarding what they should or cannot include while running marketing campaigns. Betting providers are also responsible for protecting all their customers from all forms of gambling harm. That includes providing all related information and offering assistance where necessary.

Gambling Tax in Paraguay

The government imposes taxes on betting providers in the country. The tax amount is only 8% of all winnings that exceed approximately $70. The betting provider pays the tax amount, not the punters who win. That means bettors receive the entire prize in case of a betting win. Most betting providers usually factor the tax required on the odds.

Betting Acts in Paraguay
FAQs

FAQs

Is online betting legal in Paraguay?

Online sports betting has been legal in Paraguay since 2015. Punters can wager on any sports event or match, except blood sports. Punters can also join online betting sites based outside the country, provided the betting sites they choose are licensed.

Can private sports betting providers operate in Paraguay?

Currently, only one company is licensed to offer its services to the local population. The company, called Daruma Sam SA, will remain a monopoly until 2023, with a high chance of extending the contract.

Do Paraguayan punters pay taxes on their winnings on sports bets?

Bettors do not pay any taxes on their winnings when wagering at a local betting site, irrespective of the amount they win. Instead, punters receive the entire amount that they win. However, the betting site has to pay taxes for all player winnings of more than approximately $70.

How can Paraguayan punters find the best international betting sites?

For bettors who are still figuring out how to bet in/from Paraguay, the first step should be to locate the best online bookmakers that accept Paraguayan players and analyze the features and offers to determine the most suitable ones.

However, finding all the relevant information and comparing the data can be pretty tedious. A solution for that is visiting a ranking site for betting providers, which offers all the relevant information and provides the best suggestions.

FAQs