Are Bitcoin Casinos Legal?

When it comes to Bitcoin, the leading cryptocurrency in the world, most people are concerned by its legal status. The truth is that no matter how many advantages it has, the legal status of Bitcoin casinos is still not known by everyone.

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Bitcoin is not accepted by major players in the trade market. Big countries with strong geopolitical influence such as the USA don’t accept it fully, while all banks in the world cringe when they hear the word.

Unlike what banks and some financial experts are saying, Bitcoin is a pretty safe digital currency. Thanks to the transparency and safety of the blockchain, the public ledger for cryptocurrency transactions, you can use Bitcoin without seeing it as a shady currency.

In the past few years, Bitcoin has been making its way to the online gaming industry. A thriving industry on its own, online casinos will certainly increase their annual revenues with the addition of Bitcoin. However, the legal status of online casinos and Bitcoin both leave a lot to be desired.

Legal Status of Bitcoin Casinos

The legal status of Bitcoin casinos is a bit up in the air. Of course, an online casino with all the proper licenses and certificates is legal to play at. However, the legality of Bitcoin makes things a mess.

In short, Bitcoin isn’t legal in many countries, yet online casinos accept it as currency. This makes the legal status of Bitcoin casinos a bit confusing if your country doesn’t consider cryptocurrencies legal. You can still play in foreign casinos that accept Bitcoin, but if the cryptocurrency is banned in your country, you may experience legal troubles.

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Legal status Bitcoin

The best way to make sure that Bitcoin is legal is to either check your country’s laws or talk to a professional. If online gambling and the use of Bitcoin are legal in your country, you can play all the online games you want. If it’s not, things are pretty complicated.

While Bitcoin doesn’t break the rules (violate the laws of a country), it does operate in a grey area. It’s deemed illegal in many countries, and while there haven’t been major arrests made against gamers that have played online with Bitcoin, such a possibility exists. This is why we recommend talking to a professional before playing with your Bitcoins. If your country’s laws are not clear, it’s best to hold onto them.

That depends on the country or state. For example, not all USA states allow Bitcoin gambling. As a matter of fact, most prohibit it. In Europe, things are a bit different. Russia accepts Bitcoin, but doesn’t allow online gambling. In the UK, Bitcoin gambling is fully legal, with other countries expected to follow suit.

USA BitcoinOnline gambling in the USA is legal in only 8 states – Nevada, Delaware, Louisiana, New Jersey, New York, Pennsylvania, Rhode Island, and West Virginia. Other states may join the fray soon, but for now, these are the online states that allow online gambling.

When it comes to Bitcoin, the US Treasury has recognized cryptocurrencies as viable convertible decentralized currencies. Bitcoin is fully legal in the United States, with anti-money laundering regulations applying to it. All gambling is legal in the aforementioned 8 states and that includes Bitcoin gambling as well.

Russia BitcoinUnlike the USA, Russia doesn’t allow online gambling. Gambling such as sports betting and lottery is legal in Russia, but unfortunately, online gaming was banned in 2017. This hasn’t stopped Russian players to enjoy foreign gambling websites and play with Bitcoin, which is legal in the country. The Russian government is currently trying to block access of gambling sites to Russian players, but nothing has materialized so far.

Bitcoin is legal in Russia as of 2018. The law is still in the early stages, so taxes haven’t been set. Until everything is complete, Bitcoin online gambling in Russia will be put on hold.

Bitcoin United KingdomIn the UK, both online gambling and Bitcoin are fully legal. Online gaming is a seriously thriving industry in the UK, with Bitcoin casinos opening their doors pretty frequently recently. The top casinos in the UK are regulated by the UK Gambling Commission, which is the top jurisdiction when it comes to online gaming.

In regards to Bitcoin, it is recognized as a single purpose voucher. The cryptocurrency is subject to Added Value Tax of 10-20% and a Capital Gains tax as well. But, hey, at least you get the chance to play online casino games with it.

Canada BitcoinCanada has officially recognized Bitcoin as a digital currency. You can own and trade it, with all profits taxed accordingly. Canada is one of the rare countries in the world that has a proactive stance on blockchain currencies unlike many other countries.

However, online gambling is a bit of a grey area in Canada. It is mostly confined to a few provinces that operate online casinos while gambling as a whole is legal in all provinces. The Canadian government allows its citizens to place wagers on betting sites and buy lotteries online. Still, providing online gambling services to Canadian players is illegal. This means that even major online gambling operators are not allowed to legally offer their services in the country.

Due to this, Bitcoin casinos in Canada are few and far between.

Bitcoin australiaAustralia has decided to treat Bitcoin just like real money. Since 2017, the cryptocurrency is no longer subject to double taxation. Bitcoin is subject to anti-money laundering laws, with all digital currency exchanges in Australia required to register with the Australian Transaction Reports and Analysis Centre.

The legal state of online gambling in Australia is a bit confusing. Online slots and table games are prohibited, yet you can bet on auto racing and sports betting. There are some online casinos which accept Australians and Bitcoin as a currency, but until the law makes things clear in regards to online gaming, Bitcoin casinos in the land down under won’t thrive.

As you can see, the legality of Bitcoin casinos varies from country to country. Some countries such as the UK allow all forms of online gambling and recognize Bitcoin as a common payment method. In general, Bitcoin is a valid currency in most countries, yet the unclear laws on online gambling may cause confusion.

As we already mentioned, you can play legally at any Bitcoin casino as long as you’re not breaking your country’s laws. If it allows online gaming and treats Bitcoin as money, you can spin all the slots and play all the table games you want to.

The Future

As more and more countries are open to the idea of Bitcoin and loosen their laws on online gambling, we fully expect things to change in the coming years. As each operator and country understand and recognize the advantages of this thriving cryptocurrency, legal Bitcoin casinos will pop up on the market more frequently. If you’re a player sitting on a bag of Bitcoins and you love playing casino games, the future is bright for you.

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