Is Crypto Gambling Legal for Bookies?

So, you are a bookie that loves online gambling and betting, and you’ve decided to start your own pay-per-head betting site. So, what about accepting payments in cryptocurrencies such as bitcoin? In recent years, the number of casinos and online betting sites offering deposits and withdrawals in crypto has grown significantly. But some bookies are still hesitant and question whether crypto gambling is legal or worth getting involved in.

What is crypto gambling?

Crypto gambling is when your players place bets or play casino games and use cryptocurrency instead of fiat. All deposits and withdrawals are made with cryptocurrency, which means you and your players can enjoy quicker and lower-cost transactions, a secure and immutable way to transact, and anonymity as cryptocurrencies are totally decentralized. In short, crypto gambling is the same as regular online gambling but just with a different kind of currency and a number of benefits. But is it legal?

Is gambling with crypto legal?

The first cryptocurrency, Bitcoin was launched in 2009, and since then, the popularity of digital, decentralized currency has continued to rise. From just one currency then, there are more than 2.000 being exchanged, traded, and gambled with today. As crypto has become more popular, its use cases have expanded. You can buy groceries and plane tickets with it, purchase real estate, trade, and of course, use it to place bets and play casino games online.

As a new technology still in its infancy and prone to a lot of volatility, some are still not sure whether it is legal or how they are or will be regulated. As online casino operators seek to work in a legal and ethical way, they may be put off by the ambiguity around cryptocurrency, but this need not be the case. Many gamblers are looking to place bets and play games without risking getting into trouble with the authorities. Every jurisdiction and region has its own rules or lack of rules around cryptocurrency which just adds to the confusion, but in this article, we will seek to clarify a few key points.

Do crypto casinos have to have a license?

If your players are gambling with fiat, for example, dollars or euros, then they may look for an online casino that has a license in a reputable gambling jurisdiction. This will protect them against fraud and reduce the risk of unethical activity, such as not getting paid out properly.

But when you gamble with just crypto, things are different. A number of jurisdictions do not recognize crypto as legal tender and do not require a license to operate. That means you can provide betting and gambling services with no license. When you gamble with crypto, it is immutable and can be traced with no risk of it being edited or fraudulently changed in any way. This gives you extra piece of mind to you and your players.

Is crypto legal?

There are only a few countries where cryptocurrency is illegal, including China, Algeria, Bangladesh, Iran, Egypt, Nepal, Qatar, and Tunisia. But even people based in these countries find ways to use cryptocurrency in various different ways. Everywhere else, you can use cryptocurrency for multiple different things, including trading, shopping, and online gambling.

Crypto gambling with Bookie Helper

There are lots of sites out there that offer bitcoin wagering and crypto betting to players, but not all are reputable. At Bookie Helper, we offer premium sports betting, racebook, and casino services for our international clients, with the highest dedication to professionalism. When you partner with us, we do not interfere with payments in any way- everything is managed directly by you, outside of the platform. This leaves you free to accept fiat or crypto payments, as you see fit.

Last but not least, we provide round-the-clock customer service that is responsive and transparent, aiming to resolve any queries you might have in the most efficient manner possible. Check our guide to amazing customer service. We believe in nurturing relationships, not just making a profit. But don’t just take our word for it, join our community and see for yourself!