Are Bitcoin Casinos Legal?
Bitcoin gambling has been becoming increasingly popular these days because its transactions are completed almost instantly. The transactions remain completely private with only the initiator knowing the details. You simply need to provide the Bitcoin wallet address and all your payments are executed smoothly.
Is Online Gambling Legal?
Of late, the intriguing world of gambling has witnessed numerous changes in terms of legalization. Many US states such as Nevada, Delaware, Pennsylvania, and New Jersey have made online gambling legal. However, California hesitated to legalize the process.
In New Jersey, all forms of gambling are legal, be it online poker, online sports betting or online casino games. While in Nevada, online casino games are not legal, only online poker and online sports betting are legal. In Delaware, both online casino games and online poker are legal, but not online sports betting. Pennsylvania has also legalized all forms of gambling, be it online casino games, online poker, or online sports betting.
Is Online Gambling with Bitcoin Legal?
In countries where online gambling is legal, Bitcoin gambling is legal too. For example, Australia is one of the gambling and bitcoin-friendly countries. Canada is also another country where Bitcoin gambling is accepted. There are also Bitcoin ATMs in Canada. There are many countries where Bitcoin gambling is illegal, but you can gamble with this cryptocurrency on sites that do not fall under the specific country’s jurisdiction.
Which US states have made bitcoin gambling legal?
Bitcoin gambling is legal in US states such as Nevada, New Jersey, and Delaware but not legal in other states. If online gambling is not legalized in a certain state, then you can’t gamble through Bitcoin in games such as slots, poker, and blackjack.
What Makes an Online Bitcoin Gambling Site Legal
A legal site is a site that operates in a place where online gambling is legal. A Bitcoin gambling site must have a license given to it by a licensing authority. The operations of the site must be conducted in a place where its license has been issued.
Texas is one of those states, where operations in Bitcoins are legal. There was a law passed in this state known as Memorandum 1037, after which conducting transactions in Bitcoin became legal. However, besides, this state, when you are conducting a transaction in bitcoins, you need a licensed money transmitter who has given bitcoins to you. Other bitcoin-friendly states are Montana, Kansas, and Tennessee. So, when a Bitcoin site is located in these states, it’s legal.
Some of the bitcoin-unfriendly states are North Carolina, Wisconsin, Connecticut, New Hampshire, and California.
How to Choose a Good Online Bitcoin Casino
It’s important to choose a good casino otherwise there are high chances that you will lose your money. There is quite a good number of online casinos which are mere scams. These casinos can delay the withdrawal and leak your bitcoin wallet address and extract your money. It is therefore advisable to choose a casino, that not only accepts Bitcoin as a form of payment, but also accepts other modes of payment.
Casinos only accepting Bitcoins do not require a license, therefore, they are not supervised by government authorities. While choosing a casino, make sure it offers your game of interest. If you are keen on playing slots then the Bitcoin casino should be offering a lot of variety in slots.
The amount of welcome bonus should be large too. This means it should give you one-to-one payment as bonus for your deposited Bitcoins.
Since all Bitcoin transactions are stored in the blockchain, you need to incur only a minimal transaction fee. Each transaction with Bitcoin is processed through the blockchain. Therefore, transfers with Bitcoins are comparatively quite fast as compared to transactions done with fiat currencies.