Iceland is an island located in the northern end of the Atlantic Ocean. It's located south-east of Greenland and north-west of the United Kingdom.
From the perspective of the players, online gambling is a wide open industry in Iceland. There are no laws against people enjoying online gambling of any type, and this includes playing with foreign operators. However, the government has entertained a lot of potential changes to how they handle Internet gambling, which would make it illegal for foreign operators to offer their games.
For the time being, players have a large selection of games and sites to choose from. This includes the Icelandic Getspa online lottery site and the Icelandic Sport Web for sports betting. Both of these sites are backed by the government, and this shows that they are open to expanding online gambling on some level. Chances are that they will regulate the industry on a more robust level at some point relatively soon, but for now, there have been no major changes on the horizon.
No true licensing process exists in Iceland. The sites that do operate by the government are done so on a case-by-case basis. This is the first thing that would have to change for online gambling to gain a foothold in the country as a regulated jurisdiction. What's so interesting about their potential as an online gambling jurisdiction is the position that they have taken against some other countries like the United States in international matters from time to time, and that shows that they would likely stand up for what they believed was the right way to handle things regardless of popular opinion.
For the state-operated sites, there are strong levels of player protection in place. The general idea is that these sites have high levels of oversight, and players are encouraged to file complaints if necessary. These complaints are taken very seriously because they are careful not to damage the legitimacy of their brand since they have a virtual monopoly on regulated online lottery tickets and sports betting in the country.
If you're playing on foreign sites from Iceland, then you will not have any real form of player protections in place. If this is the case for you, then you should be sure to only stick to the most reputable of sites and to stay away from any sites that haven't proven themselves.
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