Bitcoin entered the world in 2009 and immediately begun a revolution on the cryptocurrency market. Presently, there are more than 700 different digital currencies, but Bitcoin still remains the most used one. However, despite the large business activity around Bitcoin, there is still no international legal law to regulate it.
Key facts on Legality in Bitcoin casinos
Laws and obligations concerning online gambling legislation vary from country to country. There are many jurisdictions that can issue gambling licenses to online casinos. But, these licenses are issued only after the online casino business meets the requirements of the chosen jurisdiction.
The necessity of Gambling License for Bitcoin casinos
In order to make it clean and clear, a reliable online casino will obtain an online gambling license. Among other things, it allows running a legal activity and assures the casino operator’s trustworthy behavior, fair gaming policy and transparency in business operations and gaming software offered to customers. A representative of this kind of casino, such as FortuneJack for example, will have good reviews and reputation, and stable business that is constantly growing and expanding throughout the years. You can also feel the stability by checking the website, and important details such as casino withdrawal time and the number of games offered for playing, as you can examine on Fortunejack.
There is a difference between Bitcoin and Bitcoin gambling legality. There are countries where payment in Bitcoin can be done and it is regulated by the law, and also there are countries who allow Bitcoin payments but still waiting for the laws to cover its use. For example, in France, Germany and some US states Bitcoin is legal and regulated but Bitcoin gambling is still prohibited. In countries such as Russia and China, both Bitcoin and online gambling with Bitcoin are currently banned.
Before you start with online gambling, some research should be done. There are few facts every online gambler should know. Trustworthy online casinos are dedicated to service safety as it is a source of their business, but some additional checking is more than necessary.
In order to stay protected and keep your anonymity, while enjoying some online gambling, use your common sense. If something feels shady it probably is, so look for online casinos with good recommendations that already proofed themselves as safe and reliable.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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