Bitcoin is over a decade old and is now worth tens of thousands of dollars. That staggering valuation is a testament to the currency’s popularity and scarcity.
No matter what Bitcoin is worth or what will happen to the currency tomorrow, today, it’s valuable and can be wagered in online casinos.
Does the prospect of making money in a Bitcoin casino sound like fun to you? If it does, keep reading.
In this post, we share a handful of topical notes regarding Bitcoin casino gambling, all of which will come together to paint a picture regarding the activity’s operational and legal legitimacy so you can determine if it’s right for you.
The first piece of the Bitcoin casino legitimacy puzzle has to do with the quality of the site you’re on. As with any online gambling site, you’ll want to make sure its games are calibrated fairly, that your linked bank accounts are safe, and that ultimately, the experience you enjoy online is on par with the experience you’d enjoy at a regulated, physical casino.
Laws vary from place to place regarding how online casinos are regulated. A low-hanging way to make a calculated bet on a casino’s legitimacy is to do business with big-brand casinos that stand to lose a lot if found ripping off players.
TrustGeeky is a quality source to find good casinos that are worth exploring. Do your own diligence as well though before playing.
Looking at the Law
You’ve found a great Bitcoin casino and are ready to start wagering your wallet on blackjack. Unfortunately, another hurdle you’ll have to get over before playing is laws that govern where you live.
If your state has made online gambling illegal (as is the case for most states), online gambling in Bitcoin casinos is illegal.
One of the states that have the most liberal laws when it comes to online gambling is New Jersey so if you live there, you may be in luck. For laws affecting all states, including New Jersey, here’s a chart to reference.
Whether or not state laws tie Bitcoin gambler’s hands, many choose to gamble anyway given Bitcoin’s perceived anonymous aspects.
While Bitcoin can be private, casinos may gather player information which they may then push to state authorities as part of their annual tax preparation practices. Understand what each casino’s policies are regarding user anonymity before you feel too comfortable in how shrouded you are.
Should You Gamble in a Bitcoin Casino?
Gaming online, particularly in a Bitcoin casino, can be a lot of fun. As to whether or not you should participate in that fun, we’d suggest abiding by local laws.
If the law isn’t an issue, read Bitcoin casino reviews, find one you like, and play away! And if you’d like more guidance on anything related to making money in Bitcoin casinos, business, or any topics in-between, explore more content on our blog.
Danny White is a freelance writer who offers to ghostwrite, copywriting, and blogging services. He works closely with B2C and B2B businesses providing digital marketing content that gains social media attention and increases their search engine visibility.