There has been much debate regarding the legality of cryptocurrency and online gambling. Many legislators worldwide have wildly varying opinions on cryptocurrency and gambling laws. Recently, the United States has begun to work towards allowing States to legalize online gambling, and it has resulted in a significant increase in the tax base.
For instance, the United Kingdom is a country that allows the trading of cryptocurrency and gambling, both online and in physical bookmakers. In countries like the UK, using cryptocurrency to play a host of casino games like poker and blackjack is perfectly legal. Gambling may be subject to tighter regulations in other territories, but cryptocurrency could flourish.
If a gambling company wants to accept crypto payments and allow users to use the digital asset to gamble on their platform, they are well within their rights. They can offer this service as long as they obey the local regulations set by the jurisdiction in which they operate.
So how does it work?
Much like a casino that accepts centralized currencies like the US Dollar, you can use the cryptocurrency in your wallet and send it directly to the casino operator. The added benefit is that there isn’t a bank in the center of the transaction that could stop your payment from going through or delay it for a few hours. The luxury afforded by playing poker with crypto is that you can take advantage of the instant transfer of your digital asset.
It also works positively for the operator as connecting your wallet securely means they do not have to store identifiable details such as credit card or bank account information. This also includes personally identifiable information such as addresses and dates of birth.
Despite cryptocurrency gambling being an emerging gaming method, it has excited operators. The idea of gambling companies not having to store information, which protects them in the event of a security breach, is welcome news to everybody who uses their platform.
Although casinos that store these details are widely considered incredibly safe, it does not harm to add another level of security when protecting your finances.
Are crypto poker sites easy to find?
Due to the emerging nature of the market, one of the downsides can be finding a reliable operator that will allow you to play cryptocurrency poker. Most operators still use more well-known currencies like the Euro or Dollar.
However, due to the benefits this space has afforded the gamblers who use it and the companies that provide the platform, a number of new operators will likely emerge into this space within the next few years.
It isn’t very difficult to find poker sites online in this day and age. You would be inundated with offers and results if you performed a quick search. Poker sites that deal specifically in crypto are not as well established.
Nonetheless, it is a fantastic combination for purists who love poker and the innovations that cryptocurrency provides.
To gamble using a digital asset and avoid card transaction fees, slow deposits, or issues with your bank are all welcome inclusions to this highly competitive industry. In a world where convenience is crucial, whoever provides the most convenient service will rise to the top.
Conclusion
So yes, in conclusion, poker sites that accept crypto are legal. However, be wary of the operators you are using and ensure they have a good reputation.
Seeking out other players who use this method will usually give you the best indicator of how to use cryptocurrency to gamble securely and responsibly. It will be interesting to see exactly how this new market takes shape and how far it could expand.
