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Licensed Bitcoin Casino

Bitcoin is defined as an encryption currency and therefore gives users a lot of freedom with Bitcoin when and where they can pay. Bitcoin is not recognized as a legal payment method in any country, which may in fact be the greatest advantage. Basically, you don’t process transactions with real money and no bank approval is required to complete the transaction. It is certainly possible to use Bitcoin as a casino currency, but Bitcoin does not currently meet the definitions for currencies.

The legislation in Bitcoin gambling is immature and leaves a lot of room for speculation. Operators who start online casinos to accept Bitcoin are often confused with uncertain decisions by authorities in relation to controversial facts and encryption. They try to determine whether it is legal to offer gambling services for Bitcoin, who wants to do their jobs legally, whether a Bitcoin casino must be licensed, and which countries players can accept.

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  • Bitcoin is not regulated by a bank institution or by a country authority. For now, legislative issues are uncertain, and so there is a lot of room for speculation.
  • Online casino operators often face the opportunity to give customers the chance to use the encryption currency as a deposit method.

Does the Bitcoin casino have a gambling license?

An online casino is required to apply for a gambling license in order to legally process payments and allow the largest software providers to use the game content. When payments are made through Bitcoin, this makes the participation of the third party (the bank institution) unnecessary. The amount that a player wants to withdraw / withdraw is immediately transferred between the player and the casino wallet. In other words, the casino does not need to offer a gambling license.

Casino players who decide to use Bitcoin as a deposit / withdrawal method must ensure that their online casinos are a reputable account and are audited by an independent testing organization. From this perspective, a casino with a reputable jurisdiction has become a powerful marketing tool, and players are more secure in accounting and depositing.

Since there are no legal frameworks for Bitcoins, it should be assumed that betting with cryptocurrency is the same as betting with any government-accepted currency. If the online casino accepts your local currency, it means that depositing with Bitcoins will not be legal.

licensed bitcoin casino

In most cases, individual players are not charged with depositing money with Bitcoin. The aim of the competent authority is to ensure that operators stop accepting Bitcoin as a payment method and, as a result, often put their customers in trouble rather than be fined.

However, some companies that have the right to gamble on a global scale argue that their servers do not have to abide by the laws of each country they own, but that they are not complying with the laws established by the issuing authorities.

Bitcoin Casinos With Licences

There is no difference between the traditional gambling license, the fiat exchange casinos and the Bitcoin casino license. The operation of the different casino is different. In a traditional casino, a bank account, credit card transactions, e-wallets and so on. To get it, you need your license. Without a license, financial institutions will not work with you.

We heard the arguments that traditional casinos were controlled through banking relations managed by the gambling license. Unlicensed casinos cannot accept payments as banks will refuse to carry funds or refuse to carry these funds.

Curacao legislation fully supports Bitcoin casinos, one of which is that you cannot act as a cryptocurrency change. If a customer deposits a Bitcoin, they must play Bitcoin.

If you’ve gambled too much online with your Bitcoin, you’ve noticed that, as now, many gambling sites, especially those that tend to offer typical casino type games (rather than simple Bitcoin dice sites). wait with a full-fledged physical casino, display a license or call themselves a licensed casino.

In terms of gaming, customer support and performance, there is nothing that distinguishes licensed casinos from unlicensed ones. However, it is important to note that there are several security and background controls that form part of the application for a casino operator to obtain a license.

In other words, an external party (usually appointed by regulatory authorities) is, among other things, a party who has to verify details to ensure justice and security. This means that any licensed bitcoin casino is verified externally as is fair and safe.

License types

A license can help you better determine whether the type is available (or from which license authority). There are more than 10 online gambling licensing authorities around the world, from the Philippines in Southeast Asia to Western Europe in the United Kingdom, Costa Rica in South America and Nevada in North America.

In the early days, the licensing jurisdictions saw small countries such as Gibraltar and Malta emerging from small economies benefiting from additional revenues, but more countries were allowed to gamble online.

  • Gibraltar Gaming Commission
  • Government of Curacao
  • UK Gambling Commission
  • Costa Rica

It can simply take a business license for an online Bitcoin casino by paying $ 5,000 a year. This license does not contain any control, so license holders are practically exempt from examination and most are self-regulated. Next time you are in a Bitcoin casino with a Costa Rican license, you will know that it is unlikely to be monitored or tested for justice and security.