License Name
Icelandic State Lottery Licence
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Issuing Country/Region
Iceland
Regulatory Body
District Commissioner (Sýslumaðurinn); national framework governed by the Act on Lotteries, with oversight from the Icelandic Ministry of Finance and Economic Affairs
Types of Regulated Games
Ticket lotteries, scratch-ticket lotteries, bingo, tombola
Market Coverage
Local
Regulator's Reputation
Good
Legal Entity Requirements
Only organizations, associations, or institutions registered in the European Economic Area and working for the public good may apply
Reporting Requirements
Licensees must send settlement or statement of accounts to the District Commissioner within 6 months after the lottery's completion
Audit Requirements
Routine audits and compliance inspections required
RNG Certification
Drawing must be conducted in the presence of a representative of the District Commissioner for ticket lotteries
License Scope Restrictions
Only organizations for social, charitable, cultural, or humanitarian purposes; private for-profit gaming is prohibited
License Application Transparency
Clear process—application submitted to the District Commissioner with publicly listed requirements and supporting documents
Regulatory Contact Point
District Commissioner in each region (Sýslumaðurinn)
License Cost
No fee for applying for a standard lottery license
Annual Fees
None for standard charitable lottery licenses
Player Winnings Taxes
Winnings are typically untaxed when proceeds are for public benefit; subject to Iceland’s general tax framework
Financial Reporting Requirements
Detailed statement including income, cost, and profit must be submitted after each lottery event
Application Processing Time
Not explicitly stated; processing times can vary depending on the scope and completeness of application
Required Documents
Application form, number of tickets, central price, number and value of wins, extraction date, and prize list
Business Plan Requirements
Must detail the intended use of proceeds and compliance with public benefit purposes
Internal Policy Requirements
Responsible gaming and compliance with Icelandic laws required
Testing Requirements
Requirement for District Commissioner oversight at draws for ticket lotteries
Responsible Gaming Measures
Legal gambling age is 18; responsible gaming policies must be in place
Self-Exclusion System
Operators must provide self-exclusion and spending limitation programs
Age Verification Procedures
Only adults (18+) can legally gamble; operators required to verify player age
KYC Procedures
Customer due diligence under Iceland’s AML framework
Player Funds Protection
Trusteeship—proceeds must benefit approved public or charitable causes
Permitted Games List
Ticket lotteries, scratch-ticket lotteries, bingo, tombola
Betting Limits
Lotteries with ticket sales over ISK 2,000,000 require national-level licensing
Security Standards
Operators must comply with strict data protection and financial integrity standards as monitored by Icelandic authorities
Encryption Requirements
Data security and privacy laws apply
License Duration
Typically valid for up to three months per lottery event
Renewal Procedure
May reapply (maximum three times per 12-month period per operator)
Penalties for Non-Compliance
Violations may result in loss of license and legal penalties, including fines and possible imprisonment under Icelandic law
Dispute Arbitration
Governed by Icelandic administrative law and court system
Charity Contributions
Mandatory—all lottery profits must go to approved charitable or social initiatives
Official Address
Ministry of Finance and Economic Affairs, Arnarhvoll, 150 Reykjavík, Iceland
Online Application Portal
https://island.is/en/application-for-lottery-license
Departments
Department of Lotteries and Gaming (within the District Commissioner offices as part of the Ministry’s administrative structure)
FAQ Question 1
What is Icelandic State Lottery Licence?
FAQ Answer 1
The Icelandic State Lottery Licence allows eligible charitable organizations to operate lotteries for public benefit under strict regulation.
FAQ Question 2
Which jurisdiction issues Icelandic State Lottery Licence?
FAQ Answer 2
The licence is issued in Iceland by the District Commissioner under the regulatory oversight of the Ministry of Finance and Economic Affairs.
FAQ Question 3
What is the cost of obtaining Icelandic State Lottery Licence?
FAQ Answer 3
No application or annual fee is charged for standard charitable lottery licences.
FAQ Question 4
What are the main requirements for Icelandic State Lottery Licence?
FAQ Answer 4
Only registered EEA organizations acting for public benefit can apply; transparent application, oversight by the District Commissioner, strict reporting, and charitable use of proceeds are required.