The online casino industry is fast growing, with an estimated 50 million players enjoying real money casino games annually. Players can now enjoy their favourite online mobile casino games for real money effortlessly, a factor that has been made possible by the different payment options available online. They payment options enable players to not only deposit real money into their accounts and place real money bets, but to also withdraw their winnings easily.

While there are different payment methods available online, the one that we focus on is the newest addition to the industry – Bitcoins. More and more people across the world are becoming aware of this new form of making payment online and have different views on the same. Furthermore, different countries such as the UK and the US seem to have fully embraced the idea behind integrating and using this method as a form of payment, while other countries such as Australia and Canada are yet to decide on whether or not they should officially legalize the use of Bitcoins. However, people in these countries still continue using Bitcoins in their day to day activities.

Anyway, regardless of whether or not Bitcoins become legally approved by some of these countries, this Bitcoin review focuses on enlightening you on a number of facts surrounding the usage of Bitcoins at online mobile casinos.

  • First, we seek to clarify on the controversy surrounding the legality of using Bitcoins as a method of payment online.
  • Second, we also seek to clarify whether or not you’ll win some real money if you decide to use Bitcoin as your method of payment online
  • Third, we’ll briefly mention on the safety and security of using Bitcoins as a method of payment at the Bitcoin casinos
  • Lastly, we’ll look at the best Bitcoin Online Casino and the different platforms which you can use to make Bitcoin deposits

Legality of Bitcoin as a method of payment at online casinos

When you want to play real money online casino games using Bitcoins, you certainly want to ensure that the service is legally accepted in your jurisdiction. It’s always important that you do this so that you don’t find yourself in problems with the online casinos especially when you’ll be withdrawing money from your account.

While most of the online casinos have been granted the license to offer real money casino games using different currencies, including the USD, Euro, the CAD, AUSD, among others, there’s still too much controversy surrounding the Bitcoins. Why? Because in some countries that have legally accepted and licensed all online casino services, Bitcoin as a method of payment hasn’t been licensed. We are therefore going to look at this issue in some of the following countries.

UK – The UK is one of the country with the highest number of recreational and professional gamblers. The country has laws that protect such players as well as laws that guide all the online casino activities including the methods that players use to make deposits and withdrawals from their accounts. While Bitcoin hasn’t been included in the list, the country has at least allowed Bitcoin Casinos such as mBit and Bitstarz to offer their services to the UK players. This means that players can easily make payments and withdrawals using Bitcoins at the online casinos.

The US – Although matters of legality surrounding the online casino industry in the United States remain to be a grey area, the state of all transactions carried out by players between the online casinos and different banking institutions have been banned and are considered illegal. There’s however no Federal law which will lead to your arrest, arraigned or prosecution should you be found gambling online.

So how exactly should the US players access online casino services? The only option for all the US players is to play online casino games offered by offshore websites, especially those registered and operated in Netherlands Antilles or Antigua. These companies accept all forms of payment options, including Bitcoins, and they process the deposits using international codes.

How will players in these countries access their Bitcoins?

The United States and the United Kingdom are some of the few countries that seem to be open and receptive to this new form of currency. As mentioned earlier, there are no laws that will lead to your arrest or prosecution if you are found gambling online or using Bitcoins.

Therefore, in the event that you win your Bitcoins online, you can easily withdraw them just as we’ve elaborated in our Bitcoin guide. If you find yourself having problems using Bitcoin on your mobile device, you can always contact the casino’s customer support team and they’ll be glad to help.

Since they aren’t legalized, is it safe to use Bitcoins at online casinos?

While Bitcoins haven’t been legalized in any country yet, they still remain to be the safest way to make payments at online casinos. In fact, this payment method is best known by its users as the safest technology with a very good reputation for privacy and security. When making any Bitcoin payment at online casinos, you don’t have to input any personal or information that you don’t want anyone to see when making your transaction. Instead, the transactions will be carried out over two keys – the public key, which is visible to every Bitcoin user, and also serves as your Bitcoin address and the private key that only you can see.

What if you lose your coins, will casinos refund you?

Yes, the online casino will of course refund you. It’s the sole responsibility of the online casino to ensure that all the Bitcoins that you have in your account are safe at all times. Therefore, in the event of a hack or security breach, it will be the sole responsibility of the online casino to ensure that you’ve been reimbursed the cash.

Which is the best Bitcoin Casino Online?

Having said all this, it’s about time that we looked at the best Bitcoin Casino Online. A casino that will not only guarantee your safety online, but it will also ensure that in case of a security breach, you’ll have all your Bitcoins refunded ASAP.

At Bitstarz Casino, you are assured of the aforementioned features. This online casino was founded in 2021 and has steadily grown to become the best Bitcoin Casino, and make a name for itself as a trusted entertainment brand. By visiting the site, you are guaranteed of a welcome bonus of 5BTC in addition to other in-gaming perks.

Play Mega Moolah Slots For Free Using 5BTC at Bitstarz Casino

Categories: guides

Posted on: 8th March 2017 by:

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