The invention of bitcoin is a revolution not only in the financial sphere but also in the gambling industry. Online casinos that support cryptocurrency payments take anonymity and security to a brand-new level, opening up all the advantages of blockchain technology to players.
British bitcoin casinos were the trend of 2020. Such gambling sites are likely to become a real headliner for the gambling industry in 2021. Anyway, we should figure out why BTC operators become people’s choice in our time. Below we collected the main benefits of using a bitcoin casino for players from the UK and other countries.
Why does everybody love crypto in gambling online?
There are a lot of main reasons why more and more bets are made with the help of cryptocurrency. Here is the list of the main advantages of BTC casinos in the British gambling community:
- A minimum of intermediaries. A player who does not want to advertise their hobbies will most likely choose the bitcoin online casino. The format ensures independence from banks, which have recently become increasingly interested in the activity on clients’ accounts. And you will not have to worry about anonymity, which has become very conditional in the era of KYC, FATCA, and BEPS;
- Simple registration. In order to register at a casino, a player only needs to keep a cryptocurrency wallet number. Verification procedures, KYC, AML are not applied, therefore BTC casinos are becoming more and more popular among Brits;
- Savings on fees. A traditional bank takes a percentage of each transfer. In the cryptocurrency world, any transactions are almost free. So players will be able to save money on payments. For a casino, due to its specificity, this criterion is not particularly important, but the fact itself certainly brings some pleasure;
- Maximum simplicity of use. A visit to a regular hall is a waste of time, an unusual atmosphere, constantly noisy audience. The player must allocate enough time, which is not always possible in modern reality. Bitcoin online casinos are a completely different matter. Players can relax playing at the virtual table anytime and anywhere. In the park, in line, on a long trip, at home;
- Minimum bets. Traditional casinos limit the minimum bet, and the more solid the establishment, the higher it is. Bitcoin online operators do not restrict the player, so the bet can be any size.
Are bitcoin casinos legal in the UK?
Now you know all the pluses of cryptocurrency in gambling but the question remains: can players use bitcoins in UK gambling sites? The short answer is yes, in the UK bitcoin casino gambling is legal. However, some moments exist. In short, every GB casino must be licensed by the Gambling Commission (UKGC). While the UKGC allows digital and virtual currencies to be used for gambling, they say only operators who can fulfill their anti-money laundering commitments can do so. They must also act in a socially responsible manner. Since there are currently few casinos in the UK offering this electronic currency as a deposit or withdrawal method, it seems that people have not violated the UKGC requirements.
By the way, here is the list of factors influencing the choice of players:
- Availability of a license (at least the UKGC).
- Support for secure HTTPS protocol that protects vulnerable data.
- Licensed and checked software.
- EULA (end-user license agreement) transparency. An operator that has nothing to hide means a lot to every responsible player.
- The presence of reviews from other players also matters.
Although there are still few solid bitcoin online casinos, this situation will change soon. This is explained by the fast growth of cryptocurrency’s popularity among gambling businesses and players of Great Britain in 2021.