The present invention relates to a dry-type transformer coil vertical-type casting mold and a casting method. The dry-type transformer coil vertical-type casting mold comprises a bottom plate, an inner mold, an outer mold, and a sealing rubber plate arranged on the bottom plate. A metal supporting ring for being supported on the sealing rubber plate is arranged at a bottom portion of a part between the inner mold and the outer mold. The metal supporting ring is provided with an inner side surface for closely fitting with an outer side surface of the inner mold and an outer side surface for closely fitting with an inner side surface of the outer mold. When casting, on the one hand, the metal supporting ring, the inner mold, and the outer mold define a casting cavity; on the other hand, a flat cavity bottom can be formed, so that an impact caused by deformation of the sealing rubber plate on the shape of a resin at the bottom is avoided, and cutting and grinding are no longer required to be performed on the bottom portion, thereby reducing the working load, improving working efficiency, and moreover reducing the impact on the working environment. The metal supporting ring can bear the casting temperature, can easily achieve sufficient strength to avoid deformation, and can be used repeatedly.