Odds are you clicked on this article while trying to find out whether Bitcoin gambling sites are legal or not. It can depend on many different factors, and the answer may remain unclear in some rare cases.
We looked everywhere we could and researched for hours before bringing you the results. We are not only going to talk about what makes a site legal but also show you how to find out if it is even legal to play on such online casinos based on your countries regulation. So if you want to find out the answer just lay back, relax, and start reading.
So, if you want to find out the answer just lay back, relax, and start reading.
Is Online Gambling Legal
This is probably the very first thing you should look into as not all countries are too welcoming when it comes to online gambling. If you are a player based in Europe, then chances are you won’t face any difficulties playing with money on web-based casinos, but if you are a resident of the US, then you aren’t so much on the smooth side of things.
Most laws in America state that online gambling is prohibited but not always as it is based on various factors. If the casino is established in the US or out, whether it has a license to operate legally and also specific laws that may apply to the state you are leaving in.
Fortunately, the government targets the banks that may accept transactions from online casinos that don’t have a license or aren’t based on American ground. When it comes to players, only cheaters, whose play is suspicious or are match-fixing, will face the law. So if you are a player who happens to be a part of a table play like this you are excused in most cases. You may be asked to testify, but no charges will be pressed against you. Other than these, you are legally set to play online.
So, if you are a player who happens to be a part of a table play like this you are excused in most cases. You may be asked to testify, but no charges will be pressed against you. Other than these, you are legally set to play online.
Is Online Gambling with Bitcoin Legal
Well, things aren’t that clear when it comes to that. It relays on two separate things. Firstly, it depends if your country acknowledges Bitcoin as a form of currency, and thus have regulations about its use. Secondly, if the laws in your state allow online gambling in general.
The good thing is that there are no laws that prohibit the online use of Bitcoin to play table games such as Poker, Blackjack, and Baccarat. So, if you comply with the local jurisdiction, then you are good to start gambling online using Bitcoin.
Just be sure to read the related laws or ask a legal advisor to help you determine whether online gamble using Bitcoin in your country is legal. The reason this is advised is that rules may not directly affect your online gamble endeavours, but they may passively contradict the currency you use.
What Makes an Online Bitcoin Gambling Site Legal
Apart from the obvious which is whether the site has the necessary licenses and is certificated to operate in the legal realm, there are some things you have to be careful of.
Depending on the country of your residence some laws may contradict the fair use of the site’s system of play. The existence of an unfair house edge might be one of the things going wrong.
Keep in mind that casinos aren’t designed to make you lose as much money as possible, but they are designed so that at the end of the day the casino makes a standard profit. It is the casino’s advantage or how it is mostly known as the house edge.
Each game has its small rate of house edge that is in the majority of cases under 5%. If you come across a game where you can see the code running on it to determine the payouts, check if the house edge is over 5% – then chances are you are gambling on an illegal platform.
How to Choose a Good Online Bitcoin Casino
Apart from what you have already learned after reading the article so far, there are still some things you have to know so you can safely choose a good gambling site to play on. Earlier we talked about the regulations you may face when it comes to where the online casinos base of operation is located.
Most casinos to avoid extra taxes and to make the player’s gambling experience satisfying choose to base their websites not only outside the US but also in places where the laws regarding online gambling are very loose or even nonexistent. Some places like that are Costa Rica, Malta, Panama, Curacao (north of Venezuela) and some other countries and cities as well, but these are the ones you are going to meet on a regular basis.
Doing so the casinos can safely “bypass” your country’s regulations, and that is the reason many of the notable ones accept players from everywhere including the US.
License to operate and a certificate stating an online casinos’ games are “provably fair” are two separate things. Well, the first is self-explanatory but the second one is more for the tech-savvy gamblers out there.
“Provably Fair” means that you can have a look at the code running behind a game on a gambling site to see if there is anything wrong with it. If the casino has that feature available to you, chances are it has nothing to hide and that everything is legal and legitimate.
One of those sites is CloudBet which may be licensed but isn’t “provably fair”. Judging from its player base, though, we don’t think it is such a necessary thing to look for but still an extra point in favour of the online casino you may be looking into to start playing.
The last you have to look for when you’re searching for a good gambling site to play using Bitcoin is the minimum deposits, the maximum payouts and the fees of any transaction going through the website.
Try to choose one where the minimum deposit is relatively small such as 1mBTC and the maximum payout is big like 2-3 Bitcoins daily or up to 5-10 bitcoins weekly. Transaction fees are minimal compared to what banks charge, and bitcoin is a decentralised currency, meaning banks have no authority on the transaction made with it. So this is a feature you probably won’t have to look much into.
Another advantage would be for the casino to have a big list of available games to choose from, live games support, live chat or 24-hour support and a sports book feature. Although, all of these are based on each player’s preferences but are still good things for an online bitcoin casino to have.
Now, that you have read the whole article let’s recap a bit. If you want to determine whether playing online using any currency or a cryptocurrency such Bitcoin is, you would have to read the rules regarding online play in the country or state you live in. When it comes to choosing an online casino check safely, look for all the necessary licenses and certificated implying it is legal and fair to bet on.
If you wanted to know whether Bitcoin gambling sites are legal or not – now you know the answer, and everything related to it. So, you can start looking for an online casino that advances to all the things we taught you and you are good to start using Bitcoin to gamble online safely.
If you know reliable online casinos that accept Bitcoin, please, let us know in the comments below!