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The global crypto casino industry is booming, and many countries are embroiled in the fray. Placing bets and gambling with Bitcoin, Ethereum, and dozens of other alternative cryptocurrencies is becoming more popular daily.
The rise of the crypto casino industry is due (in part) to cryptography and blockchain technology that enables faster transactions, anonymity, security, and so on. That being said, how cryptocurrency is handled varies wildly from country to country. As such, some countries are warmer to the idea of crypto casinos than others.
In this article, we will look at the countries with the most popular support for crypto casinos and touch briefly on others. Remember that the laws and regulations that govern crypto transactions in any country can change at a moment’s notice.
North America? It’s Complicated.
A 2021 study revealed that one in every ten Americans has a cryptocurrency investment. Despite the ongoing volatility in the price of Bitcoin, the number of American investors in cryptocurrency is growing every day. It isn’t a shock that the crypto casino industry is currently attempting to capitalize on the USA market. After all, many US residents and citizens already have crypto investments. It’s no great stretch of the imagination to assume many investors are also gambling enthusiasts.
No state within the USA specifically restricts the use of cryptocurrency. However, every state has different rules regarding gambling of any variety. Some states ban gambling outright, and others allow it under certain circumstances. Online gambling websites based within the USA are generally subject to more stringent regulations that those from overseas.
Canadians, like many other countries in this article, are much more lenient towards cryptocurrency gambling, and online gambling in Canada often falls into something of a grey area. Canadian law does not prohibit the practice of betting via the internet. Still, it does require a service to be licensed or owned by provincial government authorities to be considered legal. This hasn’t prevented thousands of unlicensed offshore sites from opening their digital doors to Canadian citizens.
A good rule of thumb for determining whether cryptocurrency gambling is legal in your country is the regional legality of Bitcoin itself.
The Best Choice in Europe
The United Kingdom is a European country known to be well-permeated by the crypto casino industry. Approximately 4% of the adult population in the United Kingdom owns some form of cryptocurrency, making the UK one of the most crypto-friendly countries in the world. The UK also has future plans to explore adopting digital currency for a variety of uses.
Most online casinos and offshore bookies are available in the United Kingdom and sites like this offer a list of every bitcoin casinos. And because the United Kingdom is a crypto-friendly country, most online casinos based in the region accept cryptocurrencies. Hence, the United Kingdom is the perfect go-to online casino for overseas punters. Additionally, many of these crypto casinos offer their users decent odds and good security.
The Far Eastern Option
Investors and major firms have recently blossomed in Japan thanks to its crypto-friendly environment. For example, online shopping exchanges like Rakuten and bitFlyer have brought forward-thinking development to Japan's cryptocurrency market by offering users a way to use cryptocurrency to shop. Japan has been one of the most popular gambling destinations in the world for many years. It is no great leap of logic to find such a spike in the number of online crypto casinos there.
Your Country and Crypto
Before you attempt to gamble with cryptocurrency, always remember first to check and see whether or not cryptocurrency is legal in your country. Then determine what the local gambling laws are and act accordingly. Regardless, many crypto casino users worldwide simply use a VPN to spoof their IP address to their favorite country for gambling. This continued grey area of legality exists to this day and is one of the primary factors in the online gambling industry’s massive growth, especially with the rise of cryptocurrency.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.