5 Benefits of Bitcoin in Gambling

[matthew15]

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Let’s be clear right from the start. Bitcoin and Altcoin (other cryptocurrencies such as Ethereum, Ripple, or Litecoin) are the best thing that ever happen to the iGaming industry and its operators since the Internet became a commonplace. It naturally thrives today, thanks to multiple benefits of Bitcoin in Gambling that we will explain in this article.

First Benefit of Bitcoin and Other Cryptocurrencies in Gambling: They are Borderless

This one is the biggest advantage and we only saw fit that we start with it. As it is, cryptocurrencies are not tied to any country. Everyone with a bank account and a crypto wallet can buy coins and use them on the Internet, for any activity willing to accept them. Operators can therefore target the whole world for their marketing, or focus on specific places ripe for the opportunities as they see fit. The possibilities are endless.

Furthermore, fiat currencies (USD, EUR, VND, etc) are complex, and converting one to another can make the value depreciate, depending on its strengths and the international news. That not the case with cryptocurrencies. Once players buy them, they use them as they see fit, without having to deal with lengthy conversions processes.

Finally, there is no transaction fee with cryptocurrencies. Banks will not get a percentage of their transfer, leaving player in complete control of their own money. Operators profit from this methodology as well.

Second Benefit of Bitcoin and Other Cryptocurrencies in Gambling: They Don’t Require Online Casino Licenses

Yes, you read that right. As long as the local legislation and the target market allows it, any operator can start an online casino without the authorizations normally required to do so. Study the situation and see where it is the easiest. On that note, Cambodia is part of those countries. You can use the license of an existing casino to get started, Look it up with us!

Third Benefit of Bitcoin and Other Cryptocurrencies in Gambling: They Don’t Require Gambling Licenses To Apply For Payment Methods

Neteller, Paypal and other credit/debit card payment methods require licenses. This is not a problem with cryptocurrencies, as they are anonymous, which is another benefit in and on itself. There is absolutely no restriction or barrier to stop avid players from connecting and wagering on their favorite games. Besides, crypto wallets are safe and secure as long as passwords and authentications are set;

Fourth Benefit of Bitcoins and Other Cryptocurrencies in Gambling: Anonymity

Since we mentioned it, let’s talk about anonymity. All cryptocurrency transactions are completely and utterly anonymous. Once players transfer a cryptocurrency, they cannot be traced anymore. Their crypto wallet is only recognizable by a set of numbers and letters. No identification data will ever be requested, which is invaluable in countries where gambling is not recognized as legitimate pastime.

Fifth Benefit of Bitcoins and Other Cryptocurrencies in Gambling: Transaction Speed

As cryptocurrencies are decentralized, funds come directly from the player’s wallet to the operator’s account – you, with no intermediaries. Reducing the waiting time, players feel more confident and wager more.

We hope that this article has helped you to understand the Benefits of Bitcoin and Other Cryptocurrencies in Gambling. To learn more about this and Bitcoin Online Casinos, we welcome you to contact us, either by mail or phone. Alternatively, you can also browse through our website at www.asialivetech.com

[Kakmakr]

It is not really Borderless. I think in the early days SatoshiDICE had to permanently block US players in May 2013, citing potential legal concerns. They can operate illegally until they are caught and then they will be closed down.

If you plan to do this legally, you have to abide by the law. If a country does not allow online gambling, you should filter and block their IP's or make amendments to your ToS to warn them.   

[galkina]

I like most of the points that you mentioned in your thread:

1) Regarding bitcoins being border less, it is very much helpful for people like me in developing countries. There is no such gambling website in my country that offers playing with bitcoins. We only have websites that require payment in cash by bank transfer. This means that you will have to share bank details with them. In fact, all of them also require identity documents.

2) Regarding bitcoins transactions being faster, the other payment mediums we use are also instant like bank transfer or credit card payment. However, if there is some issue in credit card payment, it takes days to resolve the issue.

[Carmen03]

Benefits of Gambling are:  1. Gambling stimulates local economics. Thousands of people from outside the area  come and do business.Some of the money they bring will be spent on local business .They spend the money earn for contributing to the economy.   2. Gambling Is a form of Entertainment. Gambling is a great group activity for friends , family and many groups. 3. Gambling can take place in a safe environment. No place is truly safe but a large gambling pavilion like a casino or race track offer a safe environment.4. Gambling contribute to government budget.Taxes on gambling winners can contribute to government revenues . 5. Gambling is a form of game play .We use games to enhance our lives.                                                                                                                                                     

[someoldcoins]

can someone vouch for this business asialivetech.com

legit?

[Carmen01]

Think if we play in crypto a lot of conveniece here not like in real world and the gambling here is so good for past time but we need big btc to play so better to study first to invest in trading,earn in faucets and in campaign then after that use it in some gambling here but still it so risky actually i play only gambling for fun like in primedice that i only deposit a little like 0.001 btc only then i use that to play

[buwaytress]

It is not really Borderless. I think in the early days SatoshiDICE had to permanently block US players in May 2013, citing potential legal concerns. They can operate illegally until they are caught and then they will be closed down.

If you plan to do this legally, you have to abide by the law. If a country does not allow online gambling, you should filter and block their IP's or make amendments to your ToS to warn them.   

Yeah, I wouldn't say borderless is an advantage - most casinos are happy to accept whatever currency you use since the bank will convert it into the currency they support anyway. In fact, this is actually the same for a lot of so-called Bitcoin accepting casinos, you deposit Bitcoin in the amount of dollar of Euro it's determined to be worth at the time anyway).

No transaction fees also wrong. You pay that with Bitcoin. In fact, it's usually 0 fees for deposits and withdrawals on other options like credit cards. Credit cards also beat Bitcoin on waiting times...

A bit of a weird article probably written by someone who's never actually used Bitcoin to gamble

[metenjean]

Furthermore, fiat currencies (USD, EUR, VND, etc) are complex, and converting one to another can make the value depreciate, depending on its strengths and the international news. That not the case with cryptocurrencies. Once players buy them, they use them as they see fit, without having to deal with lengthy conversions processes.

So it mean to said that bitcoin value will never depreciate? So what can you tell about the current bitcoin price compared to last december? I think it already depreciated in value since then, not overall since the beginning but it depreciated for half its value because of international news such as countries and government try to ban bitcoin.

Second Benefit of Bitcoin and Other Cryptocurrencies in Gambling: They Don’t Require Online Casino Licenses
Yes, you read that right. As long as the local legislation and the target market allows it, any operator can start an online casino without the authorizations normally required to do so. Study the situation and see where it is the easiest. On that note, Cambodia is part of those countries. You can use the license of an existing casino to get started, Look it up with us!

Because they are not meant to use for gamble, its a currency as the name define "cryptocurrency" and not online casino. Did dollar, euro and cable need online casino license? And did this article provided by some gambling operator from cambodia to draw customer?  

[belyaevi]

Are you sure about the license part ? I do not think it is true and any government will allow that. That can result in a lot of problems and most of the earnings will  not be reported for tax. I agree to the first point that you made regarding the bitcoin being borderless. I am able to play on gambling websites in other countries because of this benefit. In my country all games are not allowed and there is a rule that only those are legal which allow some sort of skills from the players.  I like to use gambling websites that allow crypto mainly because it increase the thrill.

[redsun114]

Think if we play in crypto a lot of conveniece here not like in real world and the gambling here is so good for past time but we need big btc to play so better to study first to invest in trading,earn in faucets and in campaign then after that use it in some gambling here but still it so risky actually i play only gambling for fun like in primedice that i only deposit a little like 0.001 btc only then i use that to play

There may be certain advantages of using bitcoin for the sake of gambling but I don’t really think so that there can be anything profitable which you can have by using your bitcoins for the sake of gambling.

Doing this can put in lot of danger as your most of the bitcoins will be at the stake then as you will be unable to do anything good if you lost your bitcoins while doing gambling.