Online casinos that desire to succeed in the industry and legally operate within specific jurisdictions must obtain requisite licenses. Without these, online gambling operators are not permitted to set up bank accounts to process payments from its customers. If you are looking to play real money games then it is important to choose a casino that is licensed and regulated from a credible jurisdiction. The same holds good when it comes to playing with Bitcoin, the digital currency that is accepted and many online casinos.
Playing at licensed Bitcoin casinos offers several advantages. However, it is important to be aware of some of the reputed licensing jurisdiction that regulate online casinos. This includes the:
- Lotteries & Gaming Authority, Malta
- UK Gambling Commission
- Gambling Supervision Commission, Isle of Man
- Kahnawake Gaming Commission
- Curacao e–Gaming Licensing Authority
- Alderney Gaming Control Commission (AGCC)
- Gibraltar Regulatory Authority (GRA)
- Antigua Directorate of Offshore Gambling
These licensing authorities are quite popular and license and regulate several online casinos so it is advisable to look for certifications from these jurisdictions when choosing licensed Bitcoin casinos.
*******Tip from our expert: Since licensing is still a gray area when it comes to Bitcoin casinos, it is important to pick only from casinos that are licensed.
Why play at licensed Bitcoin casinos
There are several benefits of playing at a licensed casino.
- It is a smarter choice for players who can avoid unfortunate circumstances in the future.
- For the most part, licensing lends credibility to the site and strengthens security of the players.
- Players gain access to top notch games from well known gaming content developers.
- Players can enjoy higher deposit and withdrawal limits depending on the casino’s policy.
- If there are violations, the casino can be held accountable.
- Play in a secure environment
- Enjoy instant deposits and speedy withdrawals
- Some reputed jurisdictions such as Curacao and the Isle of Man have issued licenses to several casinos to accept Bitcoins. The licensing authority has the onus of monitoring the casino’s operations.
- Bitcoin offers players complete anonymity with no jurisdictional restrictions.
Making a Bitcoin casino deposit
To start playing at a licensed Bitcoin casino:
- Login with your username and password
- Enter the Cashier section and select Bitcoin as our preferred payment method
- You will be redirected to your Bitcoin wallet.
- Enter the casino’s Bitcoin address and your funds will be transferred to your casino account almost instantly.
How to use Bitcoins
Licensed Bitcoin casinos feature plenty of information on their site on how to convert regular currency such as dollars, euros and pounds into Bitcoin (BTC). Many casinos permit exchanges directly via their own site.
In addition, Bitcoins can be bought or sold at online sites known as Bitcoin exchanges. These exchanges publish the rates at which they buy or sell and you can make your purchase or sale using such services. However, remember that the buying price (the price at which they buy the Bitcoin from you) of the Bitcoin at Bitcoin exchanges will always be slightly lower than the current value of the Bitcoin and the selling price will always be slightly higher than the current value of the Bitcoin because this is how these services generate revenue for themselves.