Online gambling in some countries works under certain regulations; however, it remains to be a mystery for some people whether or not gambling with Bitcoin is legal. At this point, many Bitcoin casinos have already been put up, and many more brands continue to debut in the gambling scene from time to time. Thus, it is important to verify what really makes a Bitcoin casino legal.
Fiat-powered online casinos are permitted to function because they comply with the jurisdiction of the lands they are operating on. This means that they have acquired the necessary licenses and are regulated by respective gaming commissions or boards.
However, not the same can be said about Bitcoin casino gaming. Keep in mind that wagering here does not involve real money. As such, the clear line that dictates the legality of a Bitcoin casino is vague, and it remains in the gray area.
Thus, some anonymous Bitcoin casinos have opted to be licensed and regulated. However, this is not completely mandatory; instead, it is a precautionary measure that will serve as protection in the event unlicensed and unregulated Bitcoin casinos happen to be regarded as illegal.
Moreover, there have been talks that using Bitcoin in online gambling-related activities fall under the Gambling Act 2005 of UK because the digital currency, although not money, is considered money’s worth.
Without a solid statement regarding the question “Is Bitcoin casino legal?” this form of online gambling is poised to function normally as it has been for the past years. Only until UK releases its stand on the matter will make the unlicensed provably fair Bitcoin casinos in the region a clear violation of the law.
The best thing to do is to stay updated about the developments concerning the legality of Bitcoin casinos operating in UK. While at it, make sure to enjoy all the amazing games like the best Bitcoin slots, dice, roulette, lottery, poker, and even sports betting!