It is a lot simpler now with Bitcoin casino UK. In the beginning, Bitcoin gambling was restricted to a variety of unlicensed gambling sites. However, things changed when TonyBet became the first UK-licensed sites to offer Bitcoin to players. Another milestone has been reached though as leading online gambling site NetBet has become another UK-based online gambling operator to offer Bitcoin payment options to UK bettors. Though the site is mainly focused on sports betting, it also has sections dedicated to poker and other casino games.
The main reason for this adoption is the change earlier this year when the UK Gambling Commission (UKGC) updated its License Conditions and Codes of Practice (LCCP). The LCCP is supposed to guide all UKGC licensees on how to operate. The language change is in one section to ensure that licensees were implementing appropriate policies and procedures concerning the usage of cash and cash equivalents. Instead of just referring to normal currencies, the LCCP added “digital currencies” under this category.
This is just one part of UKGC’s push to the future. The UKGC has been looking at all of the emerging technologies that could affect the gambling landscape. Bitcoin acceptance is just a part of the organization’s goal of keeping up with the times. However, the UKGC states that Bitcoin as a digital currency was just one part of it. The need to ensure proper anti-money laundering protections also prompted the change.
NetBet managed to integrate Bitcoin with a lot of help from BitPay. As one of the world’s largest Bitcoin payment processor, BitPay has been in the business for a long time now and has helped companies add Bitcoin as one of their payment options many times.
BitPay’s experience shows in the way that the payment process is simple and easy. Checking out NetBet’s Bitcoin payment option is a simple task. All in all, it lets players do a simple Bitcoin transfer, while also allowing for instant currency conversion into Bitcoin. Unfortunately, this is only for deposits.
Bitcoin use has a couple of advantages. First, it is easier and more convenient than fiat currencies. It also reassures customers and gives them the peace of mind because online payment fraud is hard to do using Bitcoin. Bitcoin may still not be that a big presence in the UK online casino marketplace, but it is obviously a good idea for NetBet to seek a solid Bitcoin payment option.