Bitcoin gambling legality

While gambling is something that is seen as the game of the riches, it is often frowned upon by those who try not to understand the thrill of the game itself and instead go after the negative aspects that human nature derives from this completely neutral mechanism.

It is not just us saying that out of our need to have the gambling industry thrive in the modern age, but it is a well-established fact that any invention, tool, or function has the potential to be used in both positive and negative capacities. For instance, you can use the internet to connect to and learn about the world around you, while you can also use it to waste hours and hours of your time on things like viral videos & memes. At the end of the day, a usage of anything depends upon the human users, who have the power to turn anything into a productive tool or an unproductive machine of procrastination and addiction.

While the aforementioned approach to gambling is based upon logic, it still seems nuanced to those who are against anything that has the word “gambling” in it. Be it conventional casinos, sports booking establishments, or online gambling platforms, if it pertains to betting, it would be a big no for such people – especially when they are in a position of power.

Local legislation on the subject explicitly covers conventional gambling and by extension online gambling in some cases, but nothing is ever really done about Bitcoin gambling, the new medium of online betting that is slowly gaining traction all over the world.

Cryptocurrency gambling through various platforms renders a user untraceable by the facilitator as well as by the local authorities in some cases, which makes them roam freely around the land of online casinos where they deposit and withdraw their funds right from their virtual wallets without ever having to verify their identity in most cases.

Once again, even online gambling gets to be a two-edged sword for the users, where on one hand, operating from their computer screen gives them complete freedom and control upon protecting their personal identity, while on the other hand, the notion of being behind the curtain of anonymity exposes them to scams and thefts against which they do not really have any power to do anything. While the former gets more and more users interested in this form of gambling, the latter has its own share of incidents, one of which involved three sites namely Absolute Poker, Full Tilt and PokerStars, where a group of companies behind Absolute Poker owed its players $50 million at the time of its abrupt closure.

Seeing these incidents spread across the gambling medium, authorities have taken stringent actions into making gambling and its online operations illegal in many territories. While this has not curbed most websites or users from taking part in online gambling anyway, what it has achieved is make life difficult for those who want to maintain the letter of the law and do not want to get into any violation even if it remains as trifling as their participation in an online gambling site.

Since Bitcoin gambling is tied to online gambling legality, finding information on its legal status is a difficult task. Due to the scarcity and ambiguity towards this segment, it is challenging to find which jurisdictions are accommodating online gambling platforms and which regions take a sterner approach towards this medium of recreational entertainment.

Keeping this mind, we have outlined the major regions where online gambling is legal as well as those where it is considered a strict “no” by the authorities, so you would know by extension where Bitcoin gambling is considered as legal and where is it not a good practice to follow.

United States of America

In the U.S., 4 states have legalized online gambling in some form or the other, including Delaware, New Jersey, Nevada, and Pennsylvania.

Whereas, most of the other states have either taken a strict approach towards the legalization of gambling to keep it well away from their jurisdiction, or they are currently in the talks of discussing bills that would allow online gambling operations to take place for the citizens of these states.

While the list of “considering” states is a long one, New York is deemed to be the closest one to actually discuss the proposed bills and not table them without a second glance. However, no information has been provided by the lawmakers that could allude to their alliance towards one side of the spectrum.

United Kingdom

Anyone over the age of 18 can safely indulge in online gambling from a licensed provider. However, a provider that is not licensed to offer its services in the country is strictly prohibited from entertaining any users from the region at all.

Canada

Online gambling is considered a gray area in Canada, where any Canadian citizens who are participating in offshore websites are free to do so without any legal repercussions; however, it is those offshore providers which have to worry about acting out of the lines of law, since Canada’s legal status on online gambling largely depends upon the jurisdiction of its provinces.

Whereas, every Canadian province besides Saskatchewan has acknowledged the legality of online gambling in some shape and form.

Therefore, if you are a Canadian citizen, then you can ensure that the site you are accessing is based in your province, because while it would not harm you legally to access offshore providers, it might create issues for them down the road.

France

France provides licenses to online gambling hopefuls, where any provider who fulfills the requirements can move forward with offering their services to the citizens of France.

However, the licensing only covers online sports and horse race betting along with online poker games. Licensees are not provided to casino games since the authorities believe that they tend to be “too addictive”.

Germany

Germany has a strict stance towards online gambling where it does not allow any form of online betting except for horse racing. However, following discussions in the state of Schleswig-Holstein, online betting platforms can apply for licensing within this state only.

Australia

Australia has banned all forms of online gambling within its borders where any offshore provider cannot offer their services to the Australians. But similar to Canada, any citizen of Australia is not penalized for taking part in offshore gambling platforms.

With that being said, online sports betting is legal in the country where many states have legalized various local betting operations.

Rest of the World

Several countries have legalized online gambling in a perspective that they think is suitable for their jurisdiction, and the best bet to find this information is by asking around and searching through websites of local institutions, where you would be able to get the information of your jurisdiction’s stance towards online gambling.

While Bitcoin gambling is treated the same way as online gambling through fiat, it remains as one of the more safer options for the medium due to the aforementioned reasons of anonymity, added security as well as faster deposits and withdrawals.

Whatever you do, ensure that you gamble safely and only utilize funds that you have set aside for recreational playing, since anything is only optimal when it is practiced in moderation.