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Is Internet Gaming with Bitcoin and Other Tokens Lawful?

17 may 2021
Online casino, Licensing, Management
Author: James Burton
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It is quite complicated yet necessary for any business segment to adapt to the changes of the modern world. The emergence of Bitcoin was not initially perceived as a revolutionary achievement. Today, with the price for a token of more than $50,000, a lot of industries, including online gambling, accommodate this new digital form of payment.

Internet gaming with Bitcoin and other cryptocurrencies

An urgent issue that appeared soon after is the legality of crypto usage. Since BTC is decentralised, no one is in charge of its management. So, more iGaming operators want to know the details of online casino licensing with this currency.

Casino Market offers to get acquainted with our analysis. Also, you can review additional services we propose and call for assistance if you are looking for a reliable aggregator.

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General Notions of Legislation in the Area of Bitcoin Gambling

There are two main aspects to consider while dealing with the lawful aspect of crypto:

  1. It is a monetary concept, so governments of countries may perceive the legislation around Bitcoin casinos similarly to fiat cash.
  2. The decentralised nature of the token does not oblige to install regulations due to the absence of connection with the local budget and treasury.

Consequently, if an entrepreneur looks for a Bitcoin casino to buy, he should be aware of a few comprehensive facts about this crypto:

Permission/prohibition

Due to the absence of a single owner, there are no generally accepted rules and legislation of BTC casinos.

Each country is entitled to install its conditions or keep a marginal position for playing and accepting crypto in such projects

Countries’ perspective

According to global statistics, the majority of states has specified crypto in their legislation.

While a lot of them have positively perceived the existence of BTC and its possibilities in entrepreneurship, some remain resentful and are not eager to deal with it

Comparison to conventional projects

In the US, for example, where online gaming is strictly regulated and is legal only in a few states, Bitcoin licensing is also under severe control.

However, due to the particular anonymity of the technology, managers still target such markets and offer wagering in crypto

Reasons for the massive popularity

Operators who have already obtained online licences can feel the benefits of working with BTC.

Besides anonymity, the technology emphasizes a high pace of transactions as well as a secured wagering environment. It means that stealing tokens is impossible

Developed districts

Among the nations that have already enabled registration in crypto are Curaçao and the UK. As long as operators comply with the requirements, they can receive instalments in digital forms.

So, if you are looking how to get the Curaçao licence, you can contact our company for additional information

Casino Market offers a wide range of iGaming services. The chance to buy an online casino licence is not the only proposed feature connected with Bitcoin. Reach out to inquire about White Label projects, sportsbook developments, and other reliable products.

Should a Bitcoin Casino Have a Gambling Licence?

Bitcoin casino with a gambling licence

Every online gaming enterprise must receive a working permit. This is because transactions are made through bank facilities and involve personal data. It ensures that the operator with a casino gaming licence pays taxes according to the received profit.

In the case of a Bitcoin-driven project, things happen a bit differently:

  • No bank connections are established if cryptocurrency is the only form of payment.
  • The process of depositing and withdrawing digital tokens involves two destinations — a sender and a receiver; no third parties are involved.
  • There is no authority entitled to control BTC transfers or the entire infrastructure.
  • Electronic wallets are used for storing digital currency, so no accounts are involved in the process.
  • With no control and no banks related, the obligation to accept a common casino authorisation disappears.

Since no law regulating Bitcoin gambling requires the token to be used alongside fiat money, the registration process seems to be unnecessary. However, there is an opposite side of the coin here.

For ordinary players, the BTC gambling site looks and feels very similar to a conventional web casino. Many betters refuse to deposit funds to unregistered venues. So, an operator needs to open a casino with a licence regardless if he utilises just crypto. It boosts players’ trust and eradicates unnecessary concerns about the establishment legality.

Are Bitcoin and crypto gambling legal? Of course. Does it need official working permission? Also yes if an operator wants to have a fully functional establishment with a steady stream of players.

Casino Market offers to order turnkey casinos with a licence that are capable of supporting any digital form of transaction. Contact our customer support team for additional information.

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Bitcoin Situation in Malta

There is no direct mention of BTC in the local code. Fortunately for casino operators, the country’s development policy is directed at organising perfect conditions for operating with Bitcoin.

The year 2017 became crucial for Malta in terms of online crypto gambling licences since:

  • In October, a special body was created to elaborate a unique operational network for joint venture plans as well as the progression of digital types of payments.
  • In November, this body indicated the ability to regulate only a few most influential tokens (including BTC) while the rest would remain untouched for the time being.
  • In late December, the special casino licence system was provided by the authoritative bodies of Malta. The operators of web gaming portals were granted the possibility to receive local permits that regulate BTC projects.

Blockchain Influence in the Isle of Man

If you wonder about how to start a Bitcoin casino, this country might be one of the easiest selections. The reason for this is a close comparison of crypto with the conventional payment types on an authoritative level.

The first document that would specify crypto transactions was created in 2008. This act became an attempt to adjust the anti-money-laundering processes of digital money. Seven years ahead, the local administration amended the bill and made it possible for internet businesses to start officially receiving BTC and other tokens as instalments for services.

One of the main responsibilities under the bill was the necessity to prove anti-money-laundering security measures. The key to this was the Blockchain technology that aligned with BTC and other tokens perfectly well. As a lot of entrepreneurs now know, this system makes it possible to conduct anonymous transactions and secure personal data.

DLT Opportunities in Gibraltar

Operators who want to find out how to buy a gambling licence in the country might need to get acquainted with a distributed ledger technology. It works under a Blockchain system and grants a stable transferring of digital money and other significant assets.

The local legal body wanted to grant complete safety for the users of the wagering services, establishing an immaculate reputation of the reliable force. The distributed ledger technology played a huge role in this. Now, Gibraltar is known as an innovator in the presentation of digital money and its implication in the business.

The owners of portals should also be contented with the current policy. For now, the local authoritative bodies are attempting to set up the licensing procedure. Their priority is to establish new legislation especially for managers who plan to work with tokens.

Bitcoin Prospects in Antigua and Barbuda

A popular iGaming destination currently has no relation to crypto licensing. On the other hand, the local authoritative body is allegedly moving towards accepting digital tokens on the national level. It will help the internet gambling industry to organise an entry into the local crypto market.

What does it stand for in the current situation? Managers of casinos are recommended to work with BTC on conventional licensing. Players will feel more secure about the nature of the project and ensure a stable inflow of deposits.

Organisational Components for Crypto Projects

Crypto casino: organisational components

While a licence is an obligatory part of every online gaming resource, the entertainment and administrative inclusions make up the business core. Reliable Bitcoin casino software can be found at the world’s most renowned representatives.

Top 4 suppliers of BTC-based systems:

  1. Yggdrasil game software. The winner of several competitions proposes a gigantic scope of virtual slots and more amusement for online gambling clubs. Their offers are adjusted to utilising BTC and other virtual forms of money in Europe, Asia, and Africa.
  2. Golden Race software. A sought-after vendor of sports-based content has practical experience in offering wagering solutions. The opportunity to incorporate BTC and other tokens as a separate instalment technique is positively accepted by numerous iGaming administrators.
  3. Pragmatic Play software. The organisation has its services accredited all over the world, orienting on internet casino content. Up to 3 dozen official languages are accessible on portable and desktop gadgets. Mainstream offerings acknowledge payments in fiat money and crypto.
  4. Betradar software. This vendor of casino content centres around sportsbook virtuals and similar amusement. Its new crypto opportunities increased the extent of instalment prospects, welcoming new administrators to attempt the company’s propositions.

The Main Things about BTC Regulation

Advanced technologies penetrate the iGaming sphere fast and successfully. Virtual reality, live dealers, chatbots, and crypto mark a new era in the sector. The positive inclination in the regulation encourages more operators to build projects and earn on them.

The key factors on the BTC legality in recent years:

  • The decentralised possibility of the technology eliminates the presence of a single owner, allowing countries to administer crypto on their own at reasonable discretion.
  • Global acceptance of virtual currency is directed positively, with many states already encouraging entrepreneurs (including operators) to work with tokens.
  • In several destinations, the necessity of the permit, in case of accepting tokens as a payment method, is motivated by players’ bigger trust in legal sites.
  • The UK, Curaçao, Malta, the Isle of Man, Gibraltar, Antigua and Barbuda are the most renowned destinations with relation to crypto payments.
  • The chance to obtain top-tier software that works smoothly with BTC gives operators stimulation for further development in the area.

Casino Market has already become a guide for dozens of entrepreneurs who wanted to establish legal Bitcoin platforms. We have helped answer such questions as how to get a German licence, where to advertise a crypto casino, when it is the perfect time for a transition, etc.

You can find the answers to these and many more queries by contacting and ordering our best services. Casino Market also offers security provision, business plan development, affiliate programs, and unique content creation features.

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