Many gamblers in the UK know that using credit cards to gamble online is prohibited. This ban was set by the UKGC and it is hard to way around it. But, this restriction made the use of cryptocurrencies for online gambling more prominent! More and more gamblers nowadays use Bitcoin, Ethereum, and other virtual currencies to gamble online. Now is the right moment to explore this topic.

The Appeal of Cryptocurrencies in Online Gambling After CC Ban

Cryptocurrencies work on the decentralized principle. There is no single country or bank that controls them. This made them appealing to gamblers and for gambling online. When UKGC provided restrictions on credit card payments, many casinos this payment method from the available options. While some people are still looking for casino sites that have credit card deposits and continue playing there, others are looking for an alternative. As you may guess, cryptocurrency is one of the most popular choices players have made.

Add the fact that there are a lot of cryptocurrencies available, and you can see why so many players like this method. When it comes to using cryptocurrencies, players do get a lot of perks. They can enjoy instant deposits and very fast withdrawals. While a card like Visa or MasterCard would need 3-5 days to process a withdrawal request, with cryptocurrencies this takes 10 minutes. We must add that fees are non-existing or they are extremely low, another thing players look for.

Cryptocurrencies are anonymous as well so you can enjoy playing games and nobody can tell that you are gambling. You can use these at countless online casinos all over the globe.

Here is another advantage. Using virtual currencies is easier than you may believe. You need one e-wallet and you can play at all crypto casinos. You will use the same e-wallet to withdraw the funds which make things even easier.

Don’t forget that you don’t need to pay conversion fees or anything like that. If you have a cryptocurrency on your e-wallet that the online casino supports, you can deposit, play and withdraw using that currency only.

How Online Casinos Are Adapting to Cryptocurrencies

It is not a secret that more and more online casinos are now accepting virtual currencies. A while back you had to find a real crypto casino where you could deposit using one of these methods. Today, most casinos will accept cryptocurrencies. Even some of the biggest online casinos in the world allow you to do this. Some casinos even allow you to purchase cryptocurrencies directly at their website which makes things even simpler.

We all know that casinos will continue using this trend and more and more websites will accept multiple, virtual currencies. For players, there is one more advantage. The promotions and bonuses these sites offer are massive. If you can get a 100% match when using GBP, you will get a 400% match when using Bitcoin. This is a massive difference.

Keep in mind that it is not super-easy for casinos to accept cryptocurrencies. They need to implement these methods, use processing partners and so much more. As such, this is an investment these operators want to make.

The Impact of Cryptocurrencies on Players

Once the credit card ban became active, a lot of players started to explore alternative methods. One of the top 3 alternative payment methods is virtual currencies. It looked like the right deal for most players so they opted for that.

For most players, this was a confusing or even difficult process. But, quickly they were able to start using Bitcoin, Litecoin, or some other cryptocurrency to play games and claim the bonuses. Honestly, all of this is easier than it may sound and you would need 10 minutes to start playing online using any of the virtual currencies.

We have mentioned some of the benefits can get. In a nutshell, gamblers get more appealing and easier gambling possibilities. They can enjoy more, get more from the operators and so much more. At the same time, this made crypto casinos more popular than ever before so they can offer even better deals to players all over the world.

Regulatory Considerations for Cryptocurrency Gambling

All we can add here when it comes to regulations is that using cryptocurrencies to gamble online is legal and allowed. There is no law that prohibits that. We also believe that even in some countries where online gambling is not allowed or heavily controlled, virtual currencies make it easier and available to more people.

It is possible that new laws and regulations are going to be implemented for this type of play. Maybe some countries will start to heavily control virtual currencies which is not easy as they may think.

One way or another, it is important to play responsibly and help players realize that. When playing using virtual currencies, there is no real cash you will use which can make responsible gambling a bit harder. It is important for the operators to realize that and make sure they care for the players and they are making sure that online gambling is still safe and sound.

Conclusion

The bottom line is simple. Cryptocurrencies are heavily used in this form of entertainment and they will be used even more, by a lot more people. If you are one of the players who like to play, be free to explore new methods on a daily basis. You never know when you are going to discover something new and something appealing. All we know is that crypto gambling is going to become massive and probably equally common as gambling with fiat currencies.