UK casinos are licensed and regulated by the United Kingdom Gambling Commission and must apply for a license to cater to local players. This means that their games, as well as the payment methods are under the scrutiny of the watchdog, which is dedicated to protecting players. In order to obtain and maintain the license, casinos need to abide by the highest security standards and accept certain limitations. The good news for crypto currency fans is that UK casinos accept Bitcoin deposits and wagers. Other types of digital money are also accepted and punters are eligible for bonuses in currency equivalent.
Why do UK casinos accept Bitcoin?
Gambling operators are commercial entities at their core, providing a service in a highly competitive environment. The competition among online casinos is particularly harsh and those who fail to adapt are swept away by the flood. As soon as crypto currencies came along, casinos were quick to react and add them to the list of accepted payment methods. Today, there are many gambling operators that offer a mix of traditional and digital money, as well as exclusive Bitcoin casinos.
Not allowing players to deposit in their currency of choice is a highly risky practice, as casinos would lose a lot of business. Bitcoin deposits are allowed at licensed UK betting sites, so players don’t take any chances if they choose this type of payment. On the other hand, they enjoy the unmatched security and privacy offered by crypto currencies and a convenient way of gambling. Difficult to trace and ensuring their anonymity, digital currencies can also be used by international punters playing at UK casinos.
Enjoy the perks of Provably Fair Games
The United Kingdom Gambling Commission goes to great lengths to make sure that the casinos it licenses play by the rules. This means that they need to keep the funds and sensitive information shared by players secure and protect them from the outside threats. In addition to keeping cyber criminals at bay, casinos are also expected to create and maintain a level playing field for real money gamblers. Independent auditors certify the games as fair by looking at the random number generator.
Playing at a licensed casino bearing the seal of approval from such independent auditors will alleviate a lot of pressure. However, nothing can match the transparency of provably fair games which are available exclusively at crypto currency casinos. One of the main advantages of playing at UK casino sites that accept Bitcoin is that you can verify the fairness of the games. Players can do it in real-time, so they know right away if the outcome of the game is truly impossible to predict by the casino.
Casual Bitcoin investors have lost much of their enthusiasm for the crypto currency and have long moved on to other financial opportunities. For the online gambling industry, digital money remains just as exciting and it is included on the list of accepted payment methods. UK casinos accept Bitcoin and they are likely to allow such deposits for many years to come.